topic Re: New Chevron/Texaco program in Credit Cards

New Chevron/Texaco program

Anonymous — Tue, 16 Jun 2015 23:54:10 GMT

Just got this. Don't know if this will make it preferable to SM (or Freedom for the quarter), but it's something to consider.

Re: New Chevron/Texaco program

Anonymous — Tue, 16 Jun 2015 23:56:19 GMT

looks very interesting!

Re: New Chevron/Texaco program

TRC_WA — Wed, 17 Jun 2015 00:11:41 GMT

I cancelled my Chevron card.

5% on SM ($250 monthly cap) and 5% Sam's MC ($6,000 yearly cap) seems to be a better deal... at least according to my napkin math.

Re: New Chevron/Texaco program

happypill — Wed, 17 Jun 2015 00:17:24 GMT

I don't know about you guys, but around me Chevron stations always seem to be $.10-$.20 more expensive than other stations nearby.

Re: New Chevron/Texaco program

Anonymous — Wed, 17 Jun 2015 00:18:15 GMT

Not many of thoese brands around the Northeast that I have seen. I have my PenFed Cash Rewards for 5% off gas.

Re: New Chevron/Texaco program

CreditCuriosity — Wed, 17 Jun 2015 00:22:16 GMT

meh.

Re: New Chevron/Texaco program

Anonymous — Wed, 17 Jun 2015 03:08:28 GMT

@TRC_WA wrote:
I cancelled my Chevron card.

5% on SM ($250 monthly cap) and 5% Sam's MC ($6,000 yearly cap) seems to be a better deal... at least according to my napkin math.

If you put $1,000 a month "other" spend on the card in a month, you will get 23c a gallon off, which is more than 5% in most places (national average today is 2.80 a gallon according to AAA(. A 5% card would give 14c, so this gives 9c per gallon more.

But it looks like there are no other rewards, so if you put that $1000 a month on a 2% card, you would get $20 more, Which means this card would win over an uncapped 5% if you use more than 220 gallons a month, but then you would run into the $300 a year maximum in a few months

So probably not a great deal for a lot of people!

Re: New Chevron/Texaco program

doctorofcredit — Wed, 17 Jun 2015 05:07:48 GMT

What am I missing? Isn't this the exact same rewards program they previously offered? Somebody help me out here...

Re: New Chevron/Texaco program

takeshi74 — Wed, 17 Jun 2015 14:08:06 GMT

Not sure about what has changed about the program but I'd adivse reading reviews of the cards from those who have actual experience with them before applying.

Re: New Chevron/Texaco program

SecretAzure — Wed, 17 Jun 2015 14:26:04 GMT

@takeshi74 wrote:
Not sure about what has changed about the program but I'd adivse reading reviews of the cards from those who have actual experience with them before applying.

Have the card, my car's tank of gas normally lasts me over 2 weeks, there is no way I can swing this to work for me, I think. IDK, would it be worth it to run money through this over Amex BCE? 2%.

Re: New Chevron/Texaco program

Anonymous — Wed, 17 Jun 2015 14:37:55 GMT

@SecretAzure wrote:
@takeshi74 wrote:
Not sure about what has changed about the program but I'd adivse reading reviews of the cards from those who have actual experience with them before applying.
Have the card, my car's tank of gas normally lasts me over 2 weeks, there is no way I can swing this to work for me, I think. IDK, would it be worth it to run money through this over Amex BCE? 2%.

Over a 2% card, it will be a little easier to make it worthwhile. From the numbers above, if you spent $1000 a month elsewhere on this card, you will get 23c a gallon off, whereas BCE would be 6c or so, so 17c a gallon extra savings. The $1000 would "lose" between $10 and $20, depending what other cards you have,(1-2%) so you would be ahead only if you use 50 gallons (for $10) or 100 (for $20) a month, and it sounds lke that is unlikely

Someone check these figures! It seems that this card is not going to be a good deal for many!

Re: New Chevron/Texaco program

SecretAzure — Wed, 17 Jun 2015 14:41:01 GMT

@Anonymous wrote:
@SecretAzure wrote:
@takeshi74 wrote:
Not sure about what has changed about the program but I'd adivse reading reviews of the cards from those who have actual experience with them before applying.
Have the card, my car's tank of gas normally lasts me over 2 weeks, there is no way I can swing this to work for me, I think. IDK, would it be worth it to run money through this over Amex BCE? 2%.
Over a 2% card, it will be a little easier to make it worthwhile. From the numbers above, if you spent $1000 a month elsewhere on this card, you will get 23c a gallon off, whereas BCE would be 6c or so, so 17c a gallon extra savings. The $1000 would "lose" between $10 and $20, depending what other cards you have,(1-2%) so you would be ahead only if you use 50 gallons (for $10) or 100 (for $20) a month, and it sounds lke that is unlikely

Someone check these figures! It seems that this card is not going to be a good deal for many!

Except I'd rather put my spend on my Chase Freedom for most other purchases. Those points are actually worth something. Thanks though.

Re: New Chevron/Texaco program

Anonymous — Wed, 17 Jun 2015 14:52:28 GMT

@doctorofcredit wrote:
What am I missing? Isn't this the exact same rewards program they previously offered? Somebody help me out here...

Previously, Chevron cards required a minimum spend before you start getting 10 cents off per gallon...the 3 cents off always is new.

I love using my gas cards because you get same as cash price. Look at the posted "cash price" and then look at the price you actually pay with your Sallie Mae and you'll see why. The "Cash price" is at least 10 cents to 20 cents lower than using a regular credit card.

They have relaxed the rewards structure of the Chevron card to better match Shell's $.05 cents off every gallon.

With the $.03 off every gallon and cash price, Chevron card is comparable to the Sallie Mae being used at the same station.

With the $.03 off and $300 spend elsewhere and cash price, Chevron saves me around $10 more a month than SM 5%

This $.03 freebie per gallon and lower spend is great for people who regularly pump at Chevron. By putting some $300 of autopay bills on my Chevron card every month, I figure, I'll save $120 yearly on gas over the Sallie Mae since Chevron is where I normally pump gas anyways.

Using the $1,000 spend option to get $.20 off per gallon isn't worth it in my opinion unless you buy 200 gallons of gas or more per month.

Re: New Chevron/Texaco program

Anonymous — Wed, 17 Jun 2015 15:10:03 GMT

In my area of the country cash and credit purchases are the same price (except occasionally some truck stops will have diesel cheaper with cash)...always interesting to hear how things are different in other states

Re: New Chevron/Texaco program

Anonymous — Wed, 17 Jun 2015 20:07:30 GMT

I run around 2000.00 a month through fuel cards, I have the chevron card and the BP visa. Very happy with both.