In order to identify the best gas credit cards on the market, CardHub compared more than 1,000 credit card offers based on fees and rewards yield per dollar spent on gas. Below you can find our selections, both for cards affiliated with particular station chains and those offering higher earning rates on all gas purchases. We’ll also offer tips for choosing the right gas credit card for your needs as well as provide ideas for other ways to save at the pump.
Generic Gas Credit Card
This Pentagon Federal Credit Union credit card offers 5 points per dollar spent on gas purchases (the equivalent of 4.25% cash back, given that 100 points are worth roughly $0.85) in addition to 3 points /$1 on supermarket purchases and 1 point / $1 on all other purchases. You will have to join PenFed, but anyone can do so for $15.
Provides 3% cash back at gas stations and select department stores, 6% at supermarkets (up to $6,000 per year), and 1% everywhere else. It charges a $75 annual fee, but the $150 initial bonus you get for spending $1,000 in the first three months will cover that for two years.
Gives users 3 points per $1 spent on travel and gas (the equivalent of 3% cash back), 2 points per $1 on dining and entertainment, and 1 point on everything else. Spending $3,000 before your account’s three-month anniversary will also trigger a 50,000-point initial bonus, redeemable for $500 in gift cards or $625 in airfare. This card’s $95 annual fee takes effect in year two.
Gives 3 points per dollar on all gas purchases (the equivalent of % cash back), 2 points at restaurants, and 1 point on everything else. This card has an initial bonus of 20,000 points, and does not charge an annual fee first year, $45 thereafter.
Station-Affiliated Credit Card
Offers a 25-cent rebate (~8.8% cash back) for each gallon of Marathon gas purchased during months a cardholder charges at least $1,000 on this card, $0.15/gal. (~5.3%) for spending $500 and $999.99, and $0.05 (~1.8% cash back) for spending less than $500. For the first 90 days new cardholders earn double rebates. This card does not have an annual fee or an initial bonus.
Provides a $0.30/gallon discount (~10.6% cash back) on Chevron and Texaco gas for the first 60 days after account opening. Thereafter, you get $0.20/gal. off (~7.1%) during months that you spend more than $1,000 on qualifying purchases and $0.10/gal. (~3.5%) off when you spend $300-$1,000. Qualifying purchases include most charges made with your card, excluding those at Chevron and Texaco branded merchants (i.e. gas station shops) and competing gas station chains. You can earn and redeem a maximum of $300 in discounts each calendar year.
Choosing The Right Gas Rewards Card
While station-affiliated gas credit cards could offer the most lucrative rewards, they certainly aren’t for everyone. Users can only save on gas purchased at affiliated stations and, in many cases, are required to spend high dollar amounts in order to qualify for the highest rewards earning rates. Therefore, you should only open one if you’re already meeting those requirements or could easily do so without changing their daily habits significantly.
Otherwise, a generic gas credit card may be in order. When it comes to picking between, it’s important to not only compare gas rewards earning rates, but also how the other rewards they offer match up with your biggest expenses. It’s also important to note that you shouldn’t be swayed by cards offering 5% rewards in rotating categories, even if they are listed on other best gas credit card lists. Gas prices are trending upward, and such cards won’t guarantee that you’ll have a competitive earning rate on fuel purchases when the costs are highest. Besides, you’d only benefit as far as gas purchases are concerned for three months of the year, if you’re lucky.
Other Ways To Save
Consumers looking to save even more may also consider using one of the many smart phone applications, like GasBuddy, that help find the cheapest gas station in the neighborhood.
Shopping at certain grocery stores – including Giant, Kroger, and Safeway – can also bring about considerable savings because some offer discounts at affiliated gas station chains (e.g. Shell and ExxonMobil) based on how much you spend at their stores. This is especially powerful when combined with the respective station’s co-branded credit cards, many of which offer pretty good rewards but didn’t make this list because you have to spend a relatively high amount per month in order to get a decent return.