Best Gas Credit Cards

Navigating credit card rewards offers can be a tricky business. Often times, the better the rewards being offered, the worse the APR, fraud liability and card features. Gas credit cards are among the hardest rewards cards to sort out because of the varying rewards structures and the number of card issuers. It seems that nearly every gas station has some sort of "gas card" to offer these days. In this post, we're going to take a detailed look at the four most popular gas rebate credit cards to help shed light on the best gas credit card in the industry. The four cards being considered are the Chase BP (British Petrol) Gas Card, the Chase Perfect Gas Rebate MasterCard, the American Express Blue Cash Rebate Card, and the Discover Platinum Gas Rebate Card. These are among the most popular, most competitive cards in the industry, so in terms of gas rebate cards these are the top of the line. That's not to say that all the other gas cards are bad. However, when looking at cards issued by small banks or individual gas chains it is vital to consider a few factors: Is the card being considered a true "credit card"? Some gas stations issue cards that can only be used at a particular chain of stores. If it doesn't carry the Visa, MasterCard, American Express, or Discover Card logo, it is very important to check fraud liability protection and repayment terms and conditions. If the card in question is a credit card, be sure to check the issuing bank and read the terms and conditions very carefully. Extremely high interest rates can easily cost significantly more than any savings on gas.

Each of the four cards discussed below has its merits. They are all issued by major banks, are true credit cards, and offer competitive interest rates.

The Chase BP Rewards Visa:
The Chase BP Visa Card offers the highest introductory rebate rate of the four cards being considered. For the first two billing cycles this card offers a whopping 10% gas rebate for all purchases at BP gas stations, a 4% rebate on other select purchases and 2% on all other purchases. After the introductory period has passed, the rebate amount drops to 5%, 2%, and 1% respectively. Redemption of rebates is relatively easy. After a $25 rebate has been earned the card user gets to choose between a BP Gift Card, $25 personal check, or a donation to the Conservation Fund.

BP Visa Card Pros: High introductory rebate rate, competitive long term APRs, 0% introductory ARP for 6 months, and issued by major card issuer featuring great fraud protection and card benefits.

BP Visa Card Cons: Can only use the card at BP gas stations for maximum rebate, and rebates are not automatic.

Summary: The BP gas card is one of the best gas station specific cards in the industry, but has limitations.

Blue Cash From American Express:
The American Express Blue Cash Credit Card has many of the same advantages as the BP card including great fraud protection, an established credit card issuer and great credit card benefits including a six month 0% introductory APR. Despite the fact that AmEx is advertising this card as a "gas rebate card," it is in fact just their regular cash back credit card. The advantage of this card is that the card holder earns 5% cash back on ALL credit card purchases at any gas station and at any store. Although this card has no high rebate introductory offers, 5% on all purchases can add up!

Blue Cash From American Express Pros: 0% introductory APR for 6 months, 5% cash back on all purchases, and issued by major card issuer featuring great fraud protection and card benefits.

Blue Cash from American Express Cons: 5% rebate only begins after $6500 has been spent annually with the card (until then the rebate amount is only 1%), and the cash rebate is only automatically applied at the end of the year.

Summary: For big spenders the AmEx Blue Cash Rebate card has obvious advantages. For people making less than $6500 in credit card purchases per year, the 5% rebate never kicks in.

Chase PerfectCard MasterCard:
Chase describes this card as the all-in-one gas card. It has many of the same features as the BP chase card except for the gas rebates apply for gas purchases made at ANY gas station and the gas rebate amount isn’t very high. For 90 days the gas rebate is 6%. After that the gas rebate is only 3% with a one percent rebate for all other purchases.

Chase PerfectCard Pros: Gas rebates apply for purchases made at ALL gas stations, rebates are automatically credited towards future card purchases, great fraud protection and card benefits.

Chase PerfectCard Cons: The rebate amount is relatively low and the maximum monthly rebate is $15 (the equivalent of spending $500/month on gas).

Summary: The Chase PerfectCard is a great all around gas credit card, with good benefits which can simplify life for people trying to manage more than one gas rebate credit card.

Discover Platinum Gas Rebate Card:
Discover touts some of the best customer service, card benefits and credit card rewards in the credit card industry. The Discover Platinum Gas Card is no exception. This card features a full 5% cash rebate at gas stations from day one, a 0% APR for a whole year and a competitive APR thereafter.

Discover Platinum Gas Card Pros: 5% gas rebate on all gas purchases at any gas station, great card benefits, and a 0% introductory APR for one year.

Discover Platinum Gas Card Cons: 5% rebate applies only on the first $1200 of gas purchases per year. After that the gas rebate is only 1%. Rewards are not automatically applied.

Summary: This is a great gas rebate card for people spending less than $1200 on gas per year. It can’t be beat there, but for gas guzzlers a different card might be in order.

Conclusion:
So what is the best gas credit card? Like most “what is the best…” questions, the answer is as varied as the person asking the question. If you only shop at BP, the BP card is your answer. If you spend less than $1200 per year on gas – the Discover Platinum Card. If you make lots of credit card purchases per year, the American Express 5% Cash Rebate Card is tough to beat. For maximum savings you’d get all the cards and take advantage of their introductory offers one at a time. No matter which card you choose, each card can offer a significant savings, but always be sure to read the small print. It makes a BIG difference.*

Click here to see offers and promotions for popular gas credit cards.

*This article was written on 8/17/06 and the details were accurate at the time it was written. It was written with the purpose of giving guidance on some common issues encountered when applying for a gas rebate credit card. Credit card offers change frequently. The only way to get exact terms for a credit card is to contact the credit card provider directly.