One of the best ways to diffuse gasoline costs is to pick up a gas rewards credit card. When looking for the best gas credit card, the most important thing to consider is the percentage in cash back you’ll receive with each purchase. Some cards have tiered percentage amounts while others offer straight cash back. Other factors to consider are annual fees, introductory and bonus offers and finally, what kind of rewards are provided for other purchases.
Allow us to present the best gas credit cards available today. If you are currently using a card that deserves to be on this list, let us know and we’ll add it!
PenFed Visa Platinum Cashback Rewards Card – If you’ve never heard of PenFed before, your not alone but the Pentagon Federal Credit Union offers the best has credit card bar none. 5% cash back is earned on all gas purchases and that’s in addition to 2% cash back on dining purchases (until August 31, 2011) and 1% cash back on everything else. While it sounds a bit confusing, the point here is all of the cash back percentages are high, and 5% back on gas is as good as you’ll find anywhere.
Now, there is one drawback to obtaining the PenFed Visa Platinum Cashback Rewards Card and that’s it’s restricted to United States Government employees, members of the United States Military and Uniformed Services, employees or volunteers of the American Red Cross, members of the National Military Family Association, or a family member/housemate of a current PenFed member. Luckily, if you don’t meet the criteria, you can still obtain the PenFed Visa Platinum Cashback Rewards Card with a $20 military donation.
True Earnings® Card from Costco and American Express – A close second, the True Earnings Card from Costco and American Express offers consumers a flat 3% cash back on all gasoline purchases (up to $3,000 spent annually). Cardholders will also earn 2% cash back on travel and restaurant purchases and 1% cash back on everything else, including at Costco, which is rare to find. If you pay your Costco membership each year, then the True Earnings Card from Costco and American Express won’t carry an annual fee.
Discover® Open Road Card – The Discover Open Road Card offers 2% cash back on all gas purchases, for up to $250 spent per billing cycle. After you spend $3,000 annually on your Discover Open Road Card, you’ll earn 1% cash back on all purchases, otherwise 0.25%. This tier also applies to gas purchases made in excess of $250 per billing cycle. The Discover Open Road Card offers a 0% intro APR on balance transfers for 15 months and on purchases for 15 months and does not carry an annual fee.
Blue Cash Everyday℠ from American Express – American Express has designed a credit card for the big spender and it’s the Blue Cash Everyday from American Express. Members receive 3% cash back on all supermarket purchases, 2% cash back on every department store and gasoline dollar spent and 1% cash back on everything else. Cardholders of the Blue Cash Everyday from American Express will earn $100 cash back bonus after spending $1,000 in eligible purchases in the first 3 months and also receive a 0% intro APR on purchases for up to twelve months and strangely enough, won’t be charged an annual fee. (Rare for American Express)
Chase Freedom® Visa – $100 Bonus Cash Back – The Chase Freedom Visa – $100 Bonus Cash Back is one of three cards on our gas credit cards list that offers 5% cash back on rotating categories throughout the year, one of which is always gas. All other purchases will receive a 1% cash back amount and new cardholders can earn $100 cash back after spending $500 in the first three months. The Chase Freedom Visa – $100 Bonus Cash Back comes with a 0% intro APR on purchases for six months and balance transfers for 12 months and does not carry an annual fee.
Citi® Dividend Platinum Select® Visa® Card – $100 Cash Back – Similar to the Chase Freedom Visa – $100 Bonus Cash Back, the Citi Dividend Platinum Select Visa Card – $100 Cash Back rewards customers with 5% cash back on rotating categories throughout the year and offers $100 cash back after making $500 in purchases during the first three months. All other purchases will earn 1% cash back and if you need to transfer a balance, this is your card. The Citi Dividend Platinum Select Visa Card -$100 Cash Back has an intro 0% APR on balance transfers for 12 months, on purchases for 12 months and cardmembers are not charged an annual fee.
Discover® More® Card – The last of the rotating 5% cash back trio, the Discover More Card is a little different than the previous two. While 5% cash back is earned on rotating categories, including gas, throughout the year, cardholders will only earn 0.25% cash back on all other purchases until they spend at least $3,000. Then, all purchases will earn 1% cash back (still earning 5% cash back on select categories). The Discover More Card also carries an intro offer of 0% APR on balance transfers for 15 months and purchases for 15 months and does not have an annual fee.
Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are authors alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
Published or updated February 1, 2012.
{ 6 comments… read them below or add one }
The PNC Everyday Rewards card seems like it would also be a great gas card. It gives 4% on the first $250 spend on gas each month and there are other bonus categories as well with lesser cashback. I rarely see this card mentioned on credit card reviews so I am curious if people have had negative experiences with it?
Bill, thanks for the tip. That card does sound like a good offer.
interesting dont all credit card company has hidden fees that they charge you for life.
NO CREDIT CARD COMPANIES DON’T HAVE HIDDEN FEES- THEY HAVE FINE PRINT. ITS UP TO THE CONSUMER WHETHER OR NOT THEY READ THE FINE PRINT. BY USING THE CARD EVEN ONE TIME YOU AGREE TO ALL THE FINE PRINT WHETHER YOU READ IT OR NOT.
The PNC card is pretty solid, but if you’re STRICTLY after gas rewards you’re almost always going to get a better cash back structure with a credit card that’s directly partnered with a specific gas station…such as a Shell/BofA card. The only downside is that the card usually lacks any perks outside of gas and you’ll always have to scramble for a Shell station when you’re on E…which sometimes sucks….
The Penfed card is still fantastic for gas, but it no longer gives you 2% on groceries – just 1%