Best Credit Cards for Gas Savings

By: Nicole Young | Views: 996 | Date: 08-Aug-2011

There’s little doubt that gas prices will still be a big consideration in most household budgets in 2012, and alternate transportation isn’t always an option, so we all want to do what we can to cut spending on gas. Credit cards are the best way for gas savings.

It's no secret that gasolineprices have been outrageous in the past months. They've been so high thatmany car owners have resorted to trading in their SUVs for moregas-mileage-friendly compact or hybrid cars. Some car owners are even taking ona different lifestyle and beginning to take only public transportation. But didyou know that there are actually creditcards available that can help you save on the gas that you buy? Followingare the best credit cards available for gas savings:

 

1. Discover Open Road Card

The Discover Open Road Card will give you 2% cash backautomatically when you use the card at any gas station—up to $250 per billingcycle. Many people prefer general credit cards such as this one over gasstation-specific cards because they're simply more convenient. Furthermore, theOpen Road Card also provides up to 1% unlimited cash back on all purchases, nomatter where they're made, and there's no annual fee to worry about.

 

2. American Express Premier Rewards Gold Card

This credit card gives you your gas savings and benefits inmembership rewards points. You can earn two times the points on gas andgroceries, three times the points on airfare, and the standard amount of pointson everything else. Furthermore, there's no annual fee for the first year;after that, your annual fee is $175.

 

3. Capital One No Hassle Cash Rewards Card

Capital One's credit card offers 2% cash back on gas, justlike Discover's Open Roadcard above. The big difference between the two is that there's no limit on thecash you can earn—and your cash won't expire! You can redeem your cash rewardsany time and for any amount, so this rewards system is convenient and easy touse. The annual fee for the No Hassle Cash Rewards Card is a mere $39.

 

4. True Earnings Card from Costco and American Express

This card may be one of the best for gas savings andfeatures. It's the only credit card on the market at this time that offers aflat 3% cash back on all gas purchases—up to $3,000 per year. If you're aCostco member, then you get this card with no annual fee. Furthermore, you canearn 3% cash back on all restaurant purchases, 2% on travel purchases, and 1%on everything else—and that includes your Costco purchases!

 

5. Pen Fed Visa Platinum Gas/Cash Rewards Card

With "gas" in this credit card's name, you know ithas to have some great features. The Pen Fed Visa Card offers an astounding 5%cash back on all gas purchases with no spending levels or tiers. Furthermore,you can get 2% cash back at the supermarket and 1% on everything else. The onlybig drawback with this card is that you must be a member of the PentagonFederal Credit Union to be a cardholder.

 

There you have the top five credit cards when it comes togas features, savings, and benefits. Which card are you going to apply for tomake buying gas a little less painful?

 

Katrina Robinson is a freelance writer and editor who coversa wide variety of finance topics including the best 0 APRcredit cards, balancetransfers cards, and reward creditcard offers.

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