Best for Gas purchases

[UpperNwGuy]

I live in the city and rarely use my car, so my annual gas expenses are about $300.  With my 2% flat rate card, I earn $6 cash back.  If I had a 5% gas card, I would earn $15 cash back.  The $9 difference isn't worth it for me, so I just use my PenFed Power Cash Rewards card for gas.

[scarfa21]

Yeah thats what im going to use, just got approved for that card.

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@UpperNwGuy wrote:

I live in the city and rarely use my car, so my annual gas expenses are about $300.  With my 2% flat rate card, I earn $6 cash back.  If I had a 5% gas card, I would earn $15 cash back.  The $9 difference isn't worth it for me, so I just use my PenFed Power Cash Rewards card for gas.

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[UncleB]

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@Gregory1776 wrote:

I'm not sure it's worth using a Credit card for gas. .10 extra a.gallon would cancel out any rewards, no?? 🤔🤔🤔

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Where I buy gas the credit price is the same as the cash price, so using a card that earns 5% back for fuel is a no-brainer. 

[Gregory1776]

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@UncleB wrote:

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@Gregory1776 wrote:

I'm not sure it's worth using a Credit card for gas. .10 extra a.gallon would cancel out any rewards, no?? 🤔🤔🤔

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Where I buy gas the credit price is the same as the cash price, so using a card that earns 5% back for fuel is a no-brainer. 

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If thats the case, yup, no brainer. However i have a gas station near me where its 5-10 cents more than stations around me. Make sure you check that too! Gas Buddy is amazing. 😜😊😉

[happypill]

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@Gregory1776 wrote:

I'm not sure it's worth using a Credit card for gas. .10 extra a.gallon would cancel out any rewards, no?? 🤔🤔🤔

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Ok, so let's see if we can work through the complicated math here.  Around me, gas is about $3 per gallon.  That means if I use a 5% gas card, I get 15 cents per gallon in rewards.  In your scenario, paying cash would be .10 less.

So the real bottom line all-in end-of-story question is, "Is 15 cents more than 10 cents?"  I'll leave you to figure that one out on your own.

The optimal strategy for gas would be to find the lowest gas prices available without driving out of your way, and if if the cash discount is less than .15/gallon, a 5% card would make more sense than paying cash.

[Anonymous]

Murphy through their card is offering 15 cent promo, its usually 5 cents.  Also in my area several of the regional chains offer a frequent gas buyer  promo  linked to your debit card good for 5 to 10 cents off.  

[creditfan]

if you can buy gas gift card for the particular brand with the discount price and from my understading giftcard = cash price. What a nice couple

where I live there are so many exxonmobile, so I just go to ebay and grab some with 8% discount. Although I do have 5% CB card, I just use it as a backup whenever my giftcard all runing out

[Anonymous]

Here in California gas price is high, most of the times $3 and up per gallon, I spend around 300/month on gas, so any card with 5% back on gas is worth it to me

[Anonymous]

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@creditfan wrote:

if you can buy gas gift card for the particular brand with the discount price and from my understading giftcard = cash price. What a nice couple

where I live there are so many exxonmobile, so I just go to ebay and grab some with 8% discount. Although I do have 5% CB card, I just use it as a backup whenever my giftcard all runing out

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I have a friend who buys Sunoco gift cards when they see them on ebay: $100 card for $93. They get 2% back on the $93 and then the cash price on the gas.

[BronzeTrader]

I use the BA 3/2/1 Cash Reward card, with 1.75X, it is a 5.25% gas reward card all year around.  It is a $0.12/gl discount.  Better than any cash discount you can get.  Also, I shop at Wawa, where there is no difference cash or credit.