Nowadays, gas prices are so incredibly and insanely high. It is getting ridiculous. Perhaps the supply is largely increased due to the recent global instability and ongoing conflict in the gas-producing regions of the world such as the oil-rich Middle East. If the ordinary consumer, we have little say on the matter beyond griping to ourselves and shake our fists in futile struggle against the almighty gas pump.
Unless our government or society as a whole intends to self sufficient alternative forms of energy development can accelerate to power our vehicles, gas prices will likely remain subject to increase in the near future. Until we can replace our total dependence and the thirst for fossil fuels, and replaced with other alternative fuels such as solar, hydrogen, ethanol, or heck, even vegetable oil (or at least greatly improve the efficiency of our current electric fuel cell technology), we are probably going to keep suffering through high gas prices high for some time.
But as consumers, we have a valuable financial instrument at our disposal – gas credit cards that allow cardholders to earn cash back rewards and discounts up to 10% in some cases related to all gas purchases. Using an online tool like Gas Buddy to find the lowest gas price in the district or region is a great way to lower the cost of gasoline used, but the reality is that it is not always possible to go to the cheapest gas station every time. The discounts you can earn cash back on all purchases of gas is universally applicable and can be earned at each station location or brand, wherever you go. These gas cards are often to be the best overall bet when it comes to saving money on gas at the pump.
Then the gas rebate drops to 3%. Citibank Dividend Platinum Select offers 5% cash back on gas and pharmacy, supermarket, grocery and utility purchases for six months, but then drops to 2%. But the card is to get an editor of CardRatings.com.
Remember: Issuers can change their terms and conditions with little notice. A perfect example is MBNA’s AAA credit card. The card was once extremely popular – you have a 5% discount on all your gas purchases. Then the issuer realized that consumers only use it for gas, says Curtis Arnold, president of CardRatings.com, and the plan was scaled back dramatically.
Instead of 5% rebate on gas, most customers now receive only 2% if all they do is use the card for gasoline. If terms are changed on your card, ask the issuer if they offer a tempting alternative.
Not all gas stations qualify for a full rebate. Given the high cost of gasoline, fuel at a wholesale club sounds appealing. If your American Express Blue Cash card to pay for gas at a warehouse club, for example, you get a paltry 1.5%.
Here are the top gasoline rebate offers from the best gas credit cards available: