Are You The Right Person For A Gas Rewards Credit Card?

July 24, 2011 by  Filed under: Credit 

There are plenty of Reward Credit Cards on offer and though Gas cards are not as flashy as cash-back or travel reward cards, they could lead to greater savings. This is more apparent with the prices of gas soaring to almost $4 per gallon.

Unfortunately gas reward cards are not for everyone and there are certain standards that need to be met in order to be entitled to the rewards that come with the acquisition of the cards. Applicants should ensure that they have a good credit rating with prompt monthly payments. If you have a poor rating it would be best to work on improving it before applying for a card.

You may have a good credit rating but gas is not a major expense on your monthly budget; for instance if you work from home or simply use public transport for most of your journeys. In such cases it may not be viable to get a rewards card considering that you will hardly be able to accumulate enough points to qualify for rewards.

If you are used to filling up at the same gas station then you would typically be at a greater advantage if you get a reward card that is specific to your favored gas company. On the other hand if you fuel at different places a co-branded card will not restrict you to only one gas company.

If you already have a gas rewards card you may probably consider getting several cards in order to supplement you rewards, however, this is not such a good idea because the chances of accumulating sufficient rewards is lowered.

If you are an avid bargain hunter, then a gas reward credit card is right for you. Being able to make rewards on gas purchases that you would make anyway is a definite plus and any saver would take advantage of this.

The most important thing when taking on a credit card of any sort is that you understand all the terms and conditions on that card, and that you understand your own repayment capacity. If you over extend yourself all the rewards under the sun won’t make any difference if you end up paying higher interest rates or late fees simply because you can’t make your payments.

So at the end of the day ensure that you read through the terms and conditions to find out if you fit all the criteria that has been laid out by the service provider.

For great information and tips on choosing and using a gas reward credit card, check us out at and leave us a comment on your best tips to manage your credit card and how to get the most from your rewards program.

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