Saying that gas prices have been a pain in the you-know-where is a complete understatement. It is an ominous problem that seems to grow out of proportion each year. Try as we may, this is a problem that we cannot rid ourselves of. Most of us need our cars not just because we are too lazy to walk to the bus stop, but because we need it for our jobs and to expedite our transportation time so that we can tend to the other responsibilities we have.
So as fuel prices continue to increase, there is not much left we can do but grit our teeth and just hope that maybe someday, we could run our cars with water, (but at the rate things are going, we may not even afford water in the future). So what is there left to do? Fortunately, gas companies and other financial establishment shave come up with a way to alleviate this dilemma, and our savior is a small rectangular plastic card called the gas credit card.
Okay, so it may not be relatively new as it has been available for the past few years already, but the way the competition is heating up with all the gas companies, the rewards, rebates, cash backs and gifts they send our way (the consumers) have been a great surprise.
But to say another understatement, the gas credit card has been very handy, if not very beneficial. Basically, deriving from its name, a gas credit card allows you to purchase gas in credit, big deal, regular credit cards are also able to do that and they have already been widely available for use in most gas stations. True, but gas credit cards, especially those that are used for a single gas company and only in their gas stations provides more benefits like the aforementioned cash backs, rebates, low interest rates, zero APR's, rewards and so much more. Hey, in these times, every thing that we can get our hands on (legally of course) counts.
Gas companies do these because they want, or maybe need, our patronage. They dangle these offers in front of us to attract us (lure us?) into getting their gas credit cards. But not that I'm saying its bad, in fact, I love that this is happening, the more they compete with each other, the more savings, us the consumers get.
Some of the juicy bait they try to attract us with are ten percent rebates after sixty days of acquiring the card, some even continue the rebates but at a lower percentage, like say five percent after the initial three months. Some gas credit cards forego with the annual fees for a certain period of time. Some may even have zero APR's on balance transfers. These are all good for us.
A number of these gas credit cards may even be used for other purchases like regular credit cards, so you get the best of both worlds.
So if you seem to be living in your car zipping from one place to another, its high time that you get a gas credit card now. Application is easy, you can either go to your favorite local gas station and inquire if they have one, or you can just go online and do your application there. Fuel prices may eternally be going up, but with all the benefits gas credit cards offer, you will certainly be going places, with a lot less cost.
How do gas credit cards work?
I'm thinking about getting a gas card. I want it to only purchase gas for my wife and I. It is a Chase Mastercard. The gas station that we are thinking about getting a card for displays two prices for gas - one without using the card, and one with using the card which is currently about 0.30 cheaper.
What I would like to do is get the card, buy gas with it for the month, then pay it off every month. But my question is, how does the interest factor into this? Do you get the discounted gas price immediately or do you get it refunded to you either as a credit to your card or something like that? What would be the point in getting a gas card to save money on gas if you're going to be paying interest on the card.
Anyone have experience with gas cards or know how they work? Tell me all you can. Thanks.
Answer
I actually have a Chase Mastercard gas card as well. It is for Speedway Superamerica. The card is good anywhere, I don't need to just use it for gas (but I do). The gas discount is deducted at the pump, so if gas says 3.50 when I put my card in it lowers that amount by a certain amount per gallon and only charges me by the reduced amount (which shows up on the pump and receipt). If it is for superamerica, be sure to get a Speedy Rewards card first. You can then link the card to the credit card and every time you use the credit card you get speedy rewards points too. I got enough speedy rewards points in the first 2 months of having my card to get $100 in gas cards. Its a pretty sweet deal. I also pay off my bill every month in full, so I don't have to worry about interest payments. I gas card like this is a good way to get more credit, boost your credit score, and get free gas if you know how to use it correctly. I would highly recommend using it.
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"If it works, it is valid (the truth); all else is philosophy." -- Uncle Wayne, "Love and optical illusions"