Even with gas costs falling this year, it’s not as cheap as it used to be. Maybe you’re reminiscing about the days when you could fill the whole tank for $5. If so, you’ll love these gas cards.
Credit cards offering cash back and other gas rewards can be a great way to trim your gas bill. Many of the cards listed below will give you a straight percentage back on qualified gas purchases. Others offer tiered percentage amounts, which can be better in some situations. Of course, don’t forget to consider introductory offers, annual fees, bonus rewards, and rewards for other purchases, too.
Here are some of the gas cards* we think are the best on the market today:
1. Barclaycard® Rewards MasterCard®
This one is a good all-around rewards card, but it offers especially good rewards for gas purchases. You get 2 points per $1 spent on gas, groceries, and utilities purchases, and 1 point per $1 spent everywhere else. 1,000 points are worth $10, so you’ll get around $10 back on $500 worth of gas purchases.
No reward expiration: As long as you’re a customer in good standing with this card, you don’t have to worry about losing your points. You can redeem as many as you want at a time, and you can save up points for as long as you’d like.
No annual fee: One of the best things about this card is that it has no annual fee.
APR: With 24.99% APR for purchases and balance transfers, this card isn’t the best option for carrying a balance. But if you’re planning to use it for gas and groceries and pay it off monthly, the high APR won’t matter.
Complimentary FICO® Score: On your monthly statement or through your online account, you can access your up-to-date FICO® score. The card will automatically notify you of any changes in your credit score, too. Plus, after you make 5 consecutive on-time payments, Barclay will automatically review your credit for a possible credit line increase.
Credit Needed: The average cardholder has a credit score of 663, but the lowest score approved was just 589.
Bottom Line: This is an easy-to-use rewards card that offers great cash-back options for gas and groceries. It could also be a good option if you’re building your credit, as the lowest accepted score is in the 500’s.
2. Barclaycard Arrival Plus™ World Elite MasterCard®
This one offers 2X the miles on all purchases – so 2 miles for every $1 spent on anything. It’s not specifically geared towards gas savings, but it’s a great rewards program. Your miles don’t expire as long as your account is active and in good standing. Plus, you’ll get a 40,000 mile bonus when you spend $3,000 on this card in the first 90 days of ownership. That’s enough for a $400 travel statement credit!
Miles for Everything: The 2X miles offer counts for any purchase made with this card – including gas and including bills.
Extra Miles: Besides the 40,000 bonus miles deal, this card also offers 10% miles back to use towards your next redemption when you redeem miles for travel statement credits.
Chip Card: This specialized chip card is the wave of the future. The chip gives the card extra security, and makes it easier to pay both abroad and at home.
No Foreign Transaction Fees: The true travelers’ credit card, this one offers no transaction fees. So while you’re enjoying your vacation travel paid for in rewards, you can rack up rewards for the next trip, too.
APR: This card offers 0% introductory APR for 12 months on any balance transfers made within 45 days of account opening. After that, an APR of 14.99% or 18.99% applies.
FICO® Score: Like the above-listed Barclaycard®, this one offers a free FICO® credit score with each bill, or unlimited access to your updated FICO® through your online account.
Average Credit Score: This is a card for those with excellent credit. The average approved score is around 740, with the lowest credit score approved at 683.
Bottom Line: If you want to combine great rewards for gas purchases, as well as travel rewards, this is an excellent option – as long as you’ve got excellent credit.
3. Chase® Freedom
This one is a good “part time” gas card. Like many rewards cards these days, it offers rotating rewards categories. So during the third quarter of 2015 (July 1-September 20), it offers a 5% cash back bonus on up to $1,500 in gas purchases. If you’re looking at a road trip this summer, this card would be a good one to have in your wallet! Plus, the card offers an unlimited 1% cash back elsewhere.
Introductory APR: This card offers a 0% introductory APR for the first 15 months after account opening. That makes it a great option for paying off debt or just moving balances to lower-interest cards. After the introductory period, the APR jumps to 13.99% to 22.99%.
Bonus: You can get two cash back bonuses with this card. One is a $100 bonus after you spend $500 in the first three months of use. The other is a $25 bonus when you add an authorized user to your card within 3 months of opening your account.
No Annual Fee: The Chase® Freedom has no annual fee.
Credit Needed: You’ll need good credit to obtain this credit card. The lowest approved score is around 615.
Bottom Line: This is a good option if you’ll use the bonus rewards the other three quarters, and want to take advantage of a solid 1% cash back on all purchases, all year long.
4. American Express Blue Cash® Preferred
If you want absolutely the best in cash back rewards for gas purchases, this is probably the card for you. It offers an unlimited 3% cash back on gas pumped anywhere in the U.S. Besides that, it offers 6% back on up to $6,000 in groceries per year, and an unlimited 3% cash back on U.S. department store purchases.
Bonus Offer: This card offers $150 in bonus cash back after you spend $1,000 in purchases within the first three months of use.
Annual Fee: Because of its excellent rewards, this card does come with an annual fee of $75. If you max out the grocery bonuses and spend enough on gas, you’ll well out-earn the fee. However, if you don’t use this card regularly enough, the annual fee could easily eat into your earnings.
Easy Rewards: With the Blue Cash® Preferred card, you’ll rack up cash back rewards, which you can then use as a statement credit. The rewards aren’t quite as flexible as with some other programs, but they’re great if your main goal is to offset spending.
Credit Needed: As you might guess, this card requires good to excellent credit. Credit Karma puts the low score around 640, and the high around 800.
Bottom Line: If you’ll use this as your primary gas card and max out the grocery rewards, too, you’ll be sitting on $400+ per year in savings – well over enough to offset the $75 annual fee. Plus, the $150 cash back bonus for new signers offsets two years’ worth of annual fees.
5. American Express® Blue Cash® EveryDay
This is similar to the Blue Cash® Preferred in that it’s a good all-around rewards card. However, the rewards aren’t quite as great – 3% cash back on up to $6,000 in groceries per year plus 2% on all U.S. gas and department store purchases. However, it doesn’t have an annual fee, so you don’t have to worry about using the card enough to offset $75 in fees per year.
Cash Back Bonus: If you spend $1,000 in your first three months of use, you’ll get $100 cash back as a bonus.
1% Cash Back: On any spending outside of groceries and gas, you’ll get 1% unlimited cash back.
Annual Fee: As we noted above, there’s no annual fee for the Blue Cash® Everyday, so you don’t need to worry about maximizing benefits to offset an annual fee.
Introductory APR: This card offers a 0% introductory APR on both purchases and balance transfers for your first 15 months of card ownership. After that, it jumps to a variable APR of 12.99% to 21.99%.
Credit Needed: You can probably get this one with slightly lower “good” credit – 610 to 740 is the average range.
Bottom Line: If your credit’s not quite good enough for the Preferred – or if you don’t like the idea of a $75 annual fee – check this card out. It’s a good everyday spending card with excellent cash back rewards for gas and other purchases.
6. PenFed Platinum Cash Rewards Visa®
This credit card offers killer cash back rewards on gas purchases – but only if you’re a member of PenFed. Regular users get 3% cash back on gas purchases, but Plus users will get 5% cash back on gas. That’s a great deal, especially if you travel often.
Qualify for Plus: To qualify for the 5% cash back for gas on this card, you’ll need to have another qualifying product with PenFed Credit Union. Checking accounts, loans, lines of credit, and mortgages all count. But as long as this other product is active, you can take advantage of the great rewards of this card.
Annual Fee: Standard users will pay $0 the first year, and $25 per year after that. Plus users will pay $0 per year in annual fees.
APR: Both standard and plus users will pay 9.99% to 17.99% variable interest with this card.
Credit Needed: We don’t have exact numbers for the credit needed for this lesser-known rewards card. But you’ll need excellent credit to qualify.
Bottom Line: If you have excellent credit and you’re already searching for a loan or another financial product, check out FedPen. If their other products meet your needs, this credit card could be the icing on the cake.
* See the online credit card application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty.