best credit card for gas rewards

Gas prices fluctuate constantly, and for many, filling up the tank is a significant monthly expense. A gas rewards credit card can help offset those costs by earning cash back, points, or miles on every purchase at the pump. This guide explores the best gas rewards credit cards available in 2024, helping you choose the one that best fits your spending habits and maximizes your savings.

Fuel rewards cards offer a practical way to earn rewards on an essential expense, making them a valuable addition to any wallet. By strategically using a gas rewards card, you can effectively reduce your overall transportation costs and free up more of your budget for other priorities.

Detailed Explanations

Blue Cash Preferred® Card from American Express

The Blue Cash Preferred® Card from American Express stands out with its high cash back rates on everyday spending. Earn 6% cash back at U.S. supermarkets (on up to $6,000 spent annually, then 1%), 6% cash back on select U.S. streaming subscriptions, and 3% cash back at U.S. gas stations and on transit. The remaining purchases earn 1% cash back. This card offers a welcome bonus and comes with various benefits like purchase protection and car rental loss and damage insurance.

Citi Custom Cash® Card

The Citi Custom Cash® Card offers a unique rewards structure: 5% cash back on your highest spending category each billing cycle (up to $500 spent), then 1% on all other purchases. Gas stations are an eligible category. This card is a great option if your gas purchases consistently make up your largest spending category each month. The card has no annual fee and often comes with a 0% introductory APR period.

Chase Freedom Flex℠

The Chase Freedom Flex℠ features 5% cash back on rotating quarterly categories (which often include gas stations), making it a potentially lucrative option for gas rewards. You also earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on dining and drugstore purchases, and 1% cash back on all other purchases. This card has no annual fee and comes with an introductory APR. The Chase Ultimate Rewards® points are highly valuable and can be redeemed for travel, cash back, or gift cards.

Discover it® Chrome Gas & Restaurant Rewards

The Discover it® Chrome Gas & Restaurant Rewards card offers 2% cash back at gas stations and restaurants (on up to $1,000 in combined purchases each quarter, then 1%), and 1% cash back on all other purchases. A key benefit is Discover's first-year cash back match, effectively doubling your rewards in the first year. The card has no annual fee.

PenFed Platinum Rewards Visa Signature® Card

The PenFed Platinum Rewards Visa Signature® Card offers 5x points on gas and EV charging stations, 3x points on groceries, and 1x points on everything else. While it has no annual fee, it requires PenFed membership, which is open to many individuals. The card also boasts a low APR, making it a good choice for carrying a balance (though ideally, you should pay your balance in full each month).

Costco Anywhere Visa® Card by Citi

The Costco Anywhere Visa® Card by Citi provides 4% cash back on eligible gas worldwide (on the first $7,000 per year, then 1%), 3% cash back on restaurants and eligible travel purchases, 2% cash back at Costco and Costco.com, and 1% cash back on all other purchases. A Costco membership is required to apply for this card. Cash back is issued annually as a reward certificate, redeemable at Costco.

Shell Fuel Rewards® Mastercard®

The Shell Fuel Rewards® Mastercard® offers 10¢/gal savings on every fill-up at Shell, 2% on dining and groceries, and 1% everywhere else. The fuel rewards savings stack with other Fuel Rewards offers, potentially leading to significant discounts at the pump. There is no annual fee. This card is best for those who frequently fill up at Shell stations.

Amazon Prime Rewards Visa Signature Card

The Amazon Prime Rewards Visa Signature Card offers 5% back at Amazon and Whole Foods, 2% back at restaurants and gas stations, and 1% back on everything else. While not solely focused on gas, the 2% back is a decent reward, especially for Amazon Prime members. This card has no annual fee, but an Amazon Prime membership is required.

U.S. Bank Altitude Reserve Visa Infinite Card

The U.S. Bank Altitude Reserve Visa Infinite Card offers 5x points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center, 3x points on eligible travel and mobile wallet purchases, and 1x points on all other eligible purchases. While not specifically a gas card, the 3x points on mobile wallet purchases can be valuable, as many gas stations accept mobile payments. This card comes with premium travel perks and a high redemption value for travel, but it also has an annual fee.

Wells Fargo Autograph Card

The Wells Fargo Autograph Card provides 3x points on restaurants, travel, gas stations, transit, popular streaming services, and phone plans, and 1x points on everything else. This card offers a broad range of bonus categories, making it a versatile choice for everyday spending. There's no annual fee.

Frequently Asked Questions

• What is a gas rewards credit card? A gas rewards credit card is a credit card that offers rewards, such as cash back, points, or miles, on purchases made at gas stations. These cards help offset the cost of fuel.

• How do gas rewards credit cards work? Gas rewards credit cards typically offer a certain percentage or fixed amount of rewards per dollar spent at gas stations. These rewards can then be redeemed for cash back, statement credits, travel, or other benefits.

• What is the best gas rewards credit card for me? The best card depends on your spending habits and preferences. Consider factors like annual fees, rewards rates, redemption options, and any additional perks.

• Do gas rewards credit cards have annual fees? Some gas rewards credit cards have annual fees, while others do not. Cards with higher rewards rates often have annual fees, but these fees can be offset by the rewards earned if you spend enough on gas.

• Can I use my gas rewards credit card for other purchases? Yes, you can use your gas rewards credit card for any purchase, but you will typically earn a lower rewards rate on non-gas purchases unless the card has other bonus categories.

• What are the different types of gas rewards? Gas rewards can come in the form of cash back, points, or miles. Cash back is a direct credit to your account, points can be redeemed for various rewards, and miles are typically used for travel.

• Are there any drawbacks to using a gas rewards credit card? Potential drawbacks include annual fees, higher interest rates if you carry a balance, and the temptation to overspend to earn more rewards. Always pay your balance in full each month to avoid interest charges.

• How can I maximize my gas rewards? To maximize your rewards, use your gas rewards credit card for all gas purchases, take advantage of any bonus categories, and redeem your rewards strategically.

• Can I use a gas rewards card at any gas station? Most gas rewards credit cards can be used at any gas station that accepts credit cards. However, some cards may offer additional rewards or discounts at specific gas station chains.

• Do gas rewards expire? The expiration policy for gas rewards varies by card. Some rewards may expire after a certain period, while others do not expire as long as your account is open and in good standing.

Conclusion

Choosing the best gas rewards credit card depends on your individual spending habits and preferences. By carefully evaluating the rewards structure, fees, and benefits of each card, you can find one that helps you save money on gas and maximize your overall rewards. Consider your typical spending patterns and whether you prefer cash back, points, or miles when making your decision.