topic Re: Is it worth having a gas card? in Credit Cards

Is it worth having a gas card?

Blackswizz750 — Tue, 28 Jun 2016 14:59:56 GMT

Since I buy gas like millions of drivers, I wanted to get a card as it would get paid biweekly. Got denied from 1st bank of Omaha for their new Quick Trip card. I just use my quicksilver for that purpose now. I think I just need to stay in the garden and nature the two cap1 cards I have.

Re: Is it worth having a gas card?

Anonymous — Tue, 28 Jun 2016 15:31:08 GMT

Depends on how much you spend on gas I suppose.

Me, I fill up my tank once a month so the $35 I spend on gas a month isn't really significant rewards wise whether I use a 2% general CB card or a special gas card. That extra 1% that would give me back another 35 cents really isn't worth me having an extra card dedicated to it.

But, if you're the type of person that commutes a lot or travels a lot and you fill up once a week or more, I could certainly understand the desire for a gas card.

Re: Is it worth having a gas card?

Sharingan — Tue, 28 Jun 2016 15:41:15 GMT

For me, it sure is. I have the PenFed Platinum Cash card for 5% back at the pump. My CUV uses 91-93 octane gas for optimum performance and will burn through regular and mid grade like water. The difference between regular and premium is as much as .50 - .70 cents per gallon here, so it definitely amounted to enough to warrant a dedicated gas card.

Re: Is it worth having a gas card?

Anonymous — Tue, 28 Jun 2016 15:44:01 GMT

@Anonymous wrote:
Depends on how much you spend on gas I suppose.

Me, I fill up my tank once a month so the $35 I spend on gas a month isn't really significant rewards wise whether I use a 2% general CB card or a special gas card. That extra 1% that would give me back another 35 cents really isn't worth me having an extra card dedicated to it.

But, if you're the type of person that commutes a lot or travels a lot and you fill up once a week or more, I could certainly understand the desire for a gas card.

Right, if you spend enough, and cash back is fine, you should look at the 5% year round cards (e.g. Penfed Cash Rewards)

Re: Is it worth having a gas card?

kdm31091 — Tue, 28 Jun 2016 16:04:53 GMT

I only fill up maybe twice a month so for me a card for just gas expenses is silly. You just have to look at your spend.

Re: Is it worth having a gas card?

Anonymous — Tue, 28 Jun 2016 17:47:00 GMT

Gas stations are very risky due to card skimmers.

I've never used my card at any gas station.

Better to just Google the cheapest gas around you and pay with cash.

Re: Is it worth having a gas card?

creditguy — Tue, 28 Jun 2016 17:47:34 GMT

Your better off getting a general use card that has a good gas category. Gas only cards that can only be used at one brand location are fairly worthless after their promo periods end.

Re: Is it worth having a gas card?

Anonymous — Tue, 28 Jun 2016 18:23:15 GMT

@Anonymous wrote:
Gas stations are very risky due to card skimmers.

I've never used my card at any gas station.

Better to just Google the cheapest gas around you and pay with cash.

Probably depends. I don't care about skimmers since I'm not responsible for charges. In some areas, cash only will be cheaper than cc with rewards, in others not so much.

Re: Is it worth having a gas card?

Gmood1 — Tue, 28 Jun 2016 18:53:14 GMT

I 2nd the PenFed cash rewards card recommendation. No hassle 5% back from any pump. I use mine religiously.

Re: Is it worth having a gas card?

galahad15 — Tue, 28 Jun 2016 18:58:15 GMT

Since I don't have any PenFed cards, I use my BoA Cash Rewards card for gas payments, since it provides a recurring 3% cashback reward amount for charges at gas stations. I have found it to be useful and am very glad to have it.

Re: Is it worth having a gas card?

Anonymous — Tue, 28 Jun 2016 19:04:22 GMT

Sam's Club Mastercard has 5% cash back on fuel, and 3% cash back on dining and travel.

Chase AARP has 3% cash back on fuel, plus 3% cash back on dining and restaurants, as well as a 0% APR period for 12 months on both purchases and balance transfers.

Each of these cards serve multiple purposes and as a result, have more overall utility and value than just a straight gas card, which has limited usability and often a higher APR as well.

Re: Is it worth having a gas card?

juniornj23 — Tue, 28 Jun 2016 20:13:28 GMT

Let's do the math if you live in state were paying cash gas is cheaper than paying with card than you good paying cash .

I live in northern new Jersey here the gas is 5 to 9 cent more expensive if you pay with cc so there is no credit card but discover on the win side .

But if your gast station have the same price on cc and cash any credit card will be better

Re: Is it worth having a gas card?

juniornj23 — Tue, 28 Jun 2016 20:14:28 GMT

3% is not cover your 9 cent over cash

Re: Is it worth having a gas card?

Loquat — Tue, 28 Jun 2016 20:45:59 GMT

My wife and I spend between $520-$560 a month in fuel (we both drive large SUV's) so the Penfed Cash Rewards works out nicely for us.

Re: Is it worth having a gas card?

Anonymous — Tue, 28 Jun 2016 21:03:22 GMT

@juniornj23 wrote:
Let's do the math if you live in state were paying cash gas is cheaper than paying with card than you good paying cash .

I live in northern new Jersey here the gas is 5 to 9 cent more expensive if you pay with cc so there is no credit card but discover on the win side .

But if your gast station have the same price on cc and cash any credit card will be better

Well, any of the 5% cards right? Penfed, Fort Knox. And if you value points high enough, something like 3MR with EDP.

Re: Is it worth having a gas card?

Anonymous — Tue, 28 Jun 2016 21:13:24 GMT

Before I found myfico I was using a station specific (Chevron) card. I can't recall if the stations here went to different prices for cash/credit before or after I got the card, but they definitely are 95% that way now. If you use THEIR card, you get the cash price. Chevron has a program that if you charge some amount per month you get an extra something per gallon and if you charge a higher amount you get more. I had recurring expenses set to this card to meet the minimum for the lower tier of extra rewards. I did the analysis with what we spend and what we were losing on that card vs. a 1%/1.5/2 card (can't remember what we had at the time) and it made sense to go for a 5% gas card and ditch their extra rewards, even paying the extra .10 per gallon to use a major CC. This is in So Cal so 5% per gallon has been around 15 cents per galllon for quite a while. We were lucky enough to get a Sallie Mae while they were still around and use that (or Freedom/Discover if it's a cat). I was using the EDP going for the 30 transactions for a while, but didn't want to stress the #.

Re: Is it worth having a gas card?

Loquat — Tue, 28 Jun 2016 21:36:44 GMT

@Blackswizz750 wrote:
Since I buy gas like millions of drivers, I wanted to get a card as it would get paid biweekly. Got denied from 1st bank of Omaha for their new Quick Trip card. I just use my quicksilver for that purpose now. I think I just need to stay in the garden and nature the two cap1 cards I have.

I would have thought things would be a little better when they recently made the switch from US Bank to First Bankcard (FNBO) but maybe they're just as conservative as US Bank.

Re: Is it worth having a gas card?

adelphi_sky — Tue, 28 Jun 2016 21:38:17 GMT

I applied for the Costco card specifically for its dual use. 4% at the pump. Not as high as 5%, but we also shop at Costco. But 4% is higher than the rest of the cards in my wallet give me.

Re: Is it worth having a gas card?

Anonymous — Tue, 28 Jun 2016 21:53:56 GMT

I have a phillips66 card and love it. I wanted this card specifically because the gas station near my home offers the card holders the "cash" price (about $0.05 cheaper per gallon) and then you get $0.05 per gallon in rewards ($0.10 for the first 90 days). They also work with the Kickback rewards card but I don't put a lot of value on that and give even more of a discount for a car wash.

With gas being less than $2.13 per gallon where I am getting at least $0.10 off, 3% is only $0.064. I know that's splitting hairs but it all adds up.

(I can also track how much I spend on slushies per month. LOL.)

Edit to add that gas cards are also technically "Store" cards which can limit spending in a good way to help with UTI and may also be easier to get than most cards that offer 2%+ in CB.

Re: Is it worth having a gas card?

Meanmchine — Wed, 29 Jun 2016 01:42:42 GMT

I actually have 2 gas cards

1) Chevron/Texaco card, one of my oldest cards ( I added my daughter as AU and gave her the card FOR EMERGENCIES ONLY ) I feel better knowing she wont be

stuck aywheres by accidenrt.

2) PepBoys store card which is also accepted at all Mobil and Exxon stations

Neither card has an AF and i dont care about interest rates as i PIF monthly.

I personally see no downside to having a gas card