If you are looking for ways to save money on gas, you should definitely consider applying for a credit card exclusively for gas purchases. Many credit cards come with cash-back programs where you can earn cash every time you make a purchase. Other programs offer points with every purchase. You can later spend the points on specific rewards, like gift cards or travel fare.
Accepting a credit card offer to serve as your primary method of payment for gas purchases will enable you to save significantly on gas. The question is – which kind of credit card should you choose? Should you get a credit card that offers rewards for other purchases or is it better to get a card that only has gas rewards? As with everything in life, there are benefits to both types.
If you accept a credit card offer that comes with general benefits, you essentially get a discount on everything you buy rather than just gas. Perhaps you would prefer to get a card with general benefits, but you only want to use it to pay for gas. Fortunately, there are benefits to this as well.
Credit cards that have general cash-back rewards often come with a list of purchase types that will earn specific percentages of cash. With many credit cards, you can earn cash-back for purchasing gas, new car parts, auto maintenance, repair services and travel. If you take care of your car and get it tuned regularly, you will save more money on gas. So, having a general credit card will save gas money in more ways than one.
If your card has a general points rewards system, you will have much more rewards flexibility. With points cards, you earn a specific amount of points every time you pay for gas. You can then spend the points on a variety of items or services. Instead of always spending your points on gas-related rewards, you could choose airfare discounts or free nights at your favorite hotel. So you could purchase gas with the card and then get various free, non-gas rewards.
Credit cards that have exclusive gas related savings are also useful. Compared to general cash-back cards, credit cards that offer cash-back with gas purchases only, typically have higher percentages of cash-back per purchase. So, instead of earning 5% for groceries, 3% for gas and 1% for travel, you will earn 6% for gas.
Some points system rewards cards give you gas station gift cards in exchange for points. So every time you purchase gas, you earn points toward free gas station credit. With these cards, you will typically receive $15 to $25 gas gift cards in the mail every couple of months. This makes it much easier to keep track of how much you are saving.
Whether you decide to get a general credit card or a gas rewards credit card, you will still have to do some calculations to find the card that will save you the most money. Visit Moneysupermarket.com for extremely convenient credit card comparison. You can choose multiple cards with various benefits and see them all on the same page. This will make it incredibly easy to select a card, apply and start saving.
