Top Gas Credit Cards of 2016 - Leystradamus.Com.Ng


Sunday, October 2, 2016

Top Gas Credit Cards of 2016

With winter fully upon us, families everywhere are gearing up for winter vacations and weekends. Road trips to the beaches, or across the country to a national park - it's no wonder that September, October, and November see some of the highest road travel during the year. Gas prices this October are about 15 cents higher per gallon than they were a year ago, and at $3.68 per gallon, that can add up to an expensive road trip. If you're looking for the best gas credit card to earn rewards or cash back, here are our top picks.
  • The Best Gas Credit Cards
  • Best Gas Station Credit Cards
  • Other Gas Rewards Credit Cards
  • Guide to Picking the Best Gas Rewards Card for You

The Best Gas Credit Cards

Here are our top seven best gas credit cards. They range from great all-around credit cards with 3% gas rewards to credit union cards with 5% gas bonuses and a few membership requirements. All of these credit cards earn gas rewards at standalone gas stations regardless of the brand.

Bank of America BankAmericard Cash Rewards

We pick the BankAmericard Cash Rewards as the best credit card with gas rewards for the average consumer who spends moderately and is looking for a good general credit card with gas bonuses. The BankAmericard gives 3% cash back on gas spending and 2% back for supermarkets (decent bonus rewards for these categories), has no special eligibility requirements, and has no annual fee. However, bonus rewards are capped at $2,500 of gas, grocery and wholesale club spending each quarter, which is why we recommend it for moderate spenders. Beyond this, these two categories only earn 1%, which is below what you could get with a great no-fee cash back card. Another benefit is that Bank of America customers get a 10% increase when rewards are deposited into their checkings or savings. This relationship bonus may be available to many drivers since Bank of America is the second largest bank by deposits in the nation.


  • 3% gas rewards, 2% at grocery stores and wholesale clubs for the first $2,500 in combined spending each quarter; 1% thereafter and 1% for general spending
  • $100 cash rewards bonus after spending $500 in the first 90 days, 10% relationship bonus for Bank of America checkings or savings accounts
  • No annual fee

Blue Cash Preferred® Card from American Express

We also like the Blue Cash Preferred® Card from American Express as a convenient general credit card with special gas rewards for the average consumer with higher expenses. Based on our calculations, you'd have to spend more than $8,500 on gas annually on the Blue Cash Preferred® Card from American Express to earn a higher rewards return than just by maximizing the BankAmericard for gas rewards. If your gas spending is less than $708 a month, you're better off with the BankAmericard. That's because the Amex works best for commuters who drive enough to make the $95 annual fee worthwhile at a 3% cash back rate on gas. With the Blue Cash Preferred® Card from American Express, you also get a generous 6% cash back on the first $6k of supermarket spending, with everything else earning 1%, that helps to increase your overall rewards level.


  • 3% unlimited gas rewards, 6% cash back for the first $6,000 in supermarket spending in the year; 1% thereafter and 1% for general spending
  • $150 cash back after spending $1,000 in the first 3 months
  • $95 annual fee

PenFed Ultimate Cash Rewards Visa Card Plus

The Ultimate Cash Rewards Platinum Visa Plus card from PenFed is THE BEST gas credit card for maximizing gas rewards if you don't mind fulfilling two extra eligibility requirements. They're relatively easy to be eligible for, and worth it for a card that gets you an unlimited and excellent 5% rebate at gas stations (two percentage points above some of our best gas credit cards), and 3% cash back at supermarkets for no annual fee. To be eligible to apply, you'll have to be a member of the Pentagon Federal Credit Union - currently, a donation of less than $20 to the National Military Family Association or the Voices for America's Troops, volunteer work for the Red Cross, and a number of military affiliations or government work are accepted. You'll also have to maintain an active account or product with the the credit union to avoid an annual fee and to keep the superior rewards rate - otherwise you slip down to the Standard Visa card with 3% gas rewards only card for $25 a year (waived the first year).


  • 5% unlimited gas rewards, 3% unlimited supermarket rewards, 1% cash back on general spending
  • Requirements for eligibility, and keep a checking account with at least $250 balance and direct deposit, a money market savings account, or credit product at PenFed
  • No bonus, no annual fee if you maintain Plus standards

Fort Knox Visa Platinum Card

Another great credit card for gas rewards is the Fort Knox Visa Platinum Card. It gets the same 5% cash rebate on gas as the PenFed Ultimate Cash Rewards does, and 1% for supermarket and other spending, but has lower requirements for eligibility. You'll need to be affiliated with the military, be employed or reside in select Kentucky counties (Boyle, Breckenridge, Grayson, Hart, LaRue, Meade, Nelson, & Taylor), or obtain a $15 membership with the American Consumer Council, a consumer advocacy organization. A separate $15 secures your membership with a one-time fee and share to the credit union. Fort Knox might be difficult to break into, but this gas credit card should be easy to be eligible for. Your one-time fees can cost you up to $30, but you won't need to maintain additional balances or products with the credit union to apply for the Fort Knox Visa Platinum card.


  • 5% unlimited gas rewards, 3% unlimited supermarket rewards, 1% cash back on general spending
  • Requirements for eligibility, $15 one-time fee and share deposit, no balances required
  • No bonus, no annual fee

Sallie Mae Rewards Credit Card

Another credit card that gets one of the highest rewards rate on gas is the Sallie Mae Rewards MasterCard, to the tune of 5% on the first $250 of gas charged each month. It's a great option for moderate drivers, and particularly for students and avid book readers, as it is one of the few credit cards that rewards book purchases (up to $750/month). Groceries also get 5%, capped at $250 per month, with all other net purchases garnering 1%. You don't need to have a Sallie Mae loan to get these bonuses, but points can only be redeemed as statement credits towards the account statement, Sallie Mae student loan, or Upromise account.
Currently, you cannot apply for the Sallie Mae Credit Card, though no word has been released on its fate. It is uncertain whether the card will be discontinued in 2016. For the time being, however, current cardholders can continue to enjoy the gas savings it provides.


  • 5% gas rewards on the first $250/month, 5% on first $250 at grocery stores each month, 5% on first $750 at book retailers each month, 1% all other net purchases
  • No Sallie Mae loan required
  • 2,500 bonus points ($25 value) with first purchase in 90 days, no annual fee

Chase Freedom®

The Chase Freedom® is best for people who drive more seasonally, and don't mind keeping track of rotating bonus categories to maximize the value on their card. Freedom cardholders earn 5% cash back on up to $1,500 in combined purchases in bonus categroeies each quarter you activate. This sometimes will include gas station purchases. However, as we point out, these extra rewards are capped for spending up $1,500 in combined category spending. You will have to monitor spending if you're looking to maximize your rewards. Charging a constant amount on fuel within the cap equates to an average gas rewards of 3% a year, which is on par with other great gas credit cards we're reviewing. There are other timely bonuses available throughout the year on restaurants,, and home improvement stores that can increase the overall value. To get the best value out of the Chase Freedom®, use it for the bonus categories and supplement with a no-annual-fee 1.5% cash back credit card like the Capital One® Quicksilver® Cash Rewards Credit Card.


  • Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
  • You can get a $150 bonus after spending $500 on purchases in your first 3 months from account opening
  • $0 annual fee

Wells Fargo Propel 365 American Express Card

We recommend the Wells Fargo Propel 365 as a great gas credit card for the bank's PMA accountholders who generally have higher levels of spending. That's because there's a $45 annual fee (waived Y1), a nice 25 - 50% base point relationship bonus, and an unlimited 3% gas rewards rate to consider. PMA package holders get a 25 - 50% bump to their base points (that's just the total dollar of credit card spending), which can greatly enhance the rewards you earn. The 10% bump for a Wells Fargo checkings or savings account is better than nothing, but it might not make sense when weighed against the $45 annual fee and the other credit cards in our review.


  • 3% unlimited gas rewards, 2% unlimited restaurant and bar rewards, 1% cash back on general spending
  • 20,000 points after spending $3,000 in the first 3 months (worth ~$200)
  • $45 annual fee, waived the first year

Costco Anywhere Visa® Card

If you live near or shop at Costco, the Costco Anywhere Visa® Card may be the best credit card for you, since it combines a great gas rewards rate of 4% with some of the lowest gasoline costs per gallon. The cost of gas per gallon at Costco is generally credited by customers to some of the lowest in their neighborhoods – this is additional savings from Costco’s economies of scale that the other gas rewards credit cards don’t have. On top of that, you’d earn up to the same 4% cash back in refueling at any other gas station, so long as it’s not another wholesaler. Beyond that, you can also earn 3% cash back at restaurants and travel, as well as 2% back on purchases at Costco.


  • 4% gas rewards on the first $7,000 per year, 3% restaurant and travel rewards, 2% cash back at Costco and 1% on general spending
  • No bonus, cash back redeemable in form of coupon voucher for Costco
  • No annual fee with Costco membership

Best Gas Station Credit Cards

We believe there's greater value to having one of the above 5% gas rewards credit union card or 3% general credit cards with gas rewards for their higher overall rewards rate and ability to earn rewards at any gas station. However, if you are loyal to one brand of gas station, then there are three particular gas station credit cards that stand head and shoulders above the rest. You'll generally earn a 3% rebate on fuel purchased only at the company's own stations, and 1% on most other charges; refilling your car at other gas stations gets nothing.

BP Visa® Credit Card

The BP Visa® Credit Card, from Synchrony Bank, is an excellent card to keep in your wallet for more than just gas. With the card, you will earn a 5% rewards rate anytime you shop at BP, and 3% on grocery, dining, and travel purchases. When using the card at all other places that accept Visa (excluding non-BP gas stations), you will get a standard rate of 1%. The card also comes with a decent welcome bonus. For the first 90 days, the 5% rate applies to all purchases (excluding non-BP gas stations). The major downside of the BP Visa® Credit Card is all the fine-print. It has high APR (26.99%), high late fees, and the points expire after 12 months. Be sure to read all the card agreements carefully when applying for it.


  • Welcome bonus: for the first 90 days, every $100 charged accrues a $0.25 per gallon rebate
  • $0.25/gal rebate for every $100 of BP charges, $0.15/gal for every $100 you spend for eligible groceries, dining, and travel $0.05/gal reduction for every $100 of other credit card spending (0% at other gas stations)
  • No annual fee

Hess Visa Platinum Credit Card

Do you spend less than $400 a month on gas and goods at Hess stations? Then the Hess Visa Platinum is no-fee credit card can make a great niche addition to your wallet - great just for paying at Hess stations. Here’s why: you get an automatic 10% credit back on your statement in the first two months on up to $400 of gas, food, and merchandise bought at Hess stations. Thereafter, it drops down to 3% credit back on Hess refueling (1% for other spending). As with other gas credit cards, you earn nothing at other branded gas stations. Again, the 1% on general spending is lower than what'd you get on a decent no-fee cash rewards card like the Quicksilver.


  • Welcome bonus: first two months, 10% credit on up to $400 of spending at Hess gas stations
  • Afterwards, 3% credit back on Hess purchases, 1% on all other (0% at other gas stations)
  • No signing bonus, no annual fee

ExxonMobil Preferred Smart Card

The ExxonMobil Preferred Smart Card can be a very worthwhile retail card for Exxon customers who are frequent travelers. ExxonMobil's gas rewards rate is only slightly above average, but the real value of this card is in the cash back on travel, and stacking opportunity for rewards beyond gas. The ExxonMobil card’s $0.06 credit per gallon (available when you use between 45 - 100 gallons in the month) is a 1.6% rebate rate on the average cost of gas of $3.684 (as of May 2014) – just marginally above one of our best cash back cards. Through access to the ExxonMobil Travel Agency, you can get up to 10% cash back on lodging and cruises and 5% cash back on domestic flights and car rentals. On top of these savings, you can pay for it with a high rewards travel credit card, such as the Barclaycard Arrival, for a further 2.2% rewards rate. It has a $29 annual fee, but the savings from even a single trip can recoup your costs. Note that this is a retail card that can only be used for ExxonMobil.


  • $0.06 credit per gallon between 45 - 100 gallons a month
  • ExxonMobil Travel Agency discounts
  • $29 annual fee, retail card

Comparing Other Credit Cards for Gas

Here are other credit cards that didn't make our first round of picks for our best gas credit cards because of a combination of rewards caps, lower than average gas rewards rates, and less general applicability to most of our readers.
Chevron and Texaco Visa Credit Card: The Chevron and Texaco Visa can be an okay gas station credit card if you meet two requirements: you spend less than $920 each month at Chevron and Texaco pumps, and use the card for general spending of at least $300. That's because fuel credit of 10 cents per gallon gets triggered when you spend more than $300 a month on non-gas, and there is a maximum of $300 in fuel credits each year. If you spend the bare minimum of $300, and then pay for $300 in gas, you'd be earning a 1.4% rewards rate (savings of $8.14 on 81 gallons divided by $600 of total spending). While there is a higher 20 cent rebate, you have to spend $1,000 in non-gas each month and your fuel rewards are capped at $25 a month.
Shell Drive for Five Card: The Drive for Five card is not a worthwhile gas station card to have due to its low rewards potential and $0.05 rebate. Even if you only fill up your car at Shell gas stations, you’d be better off with a simple cash back credit card. That’s because you only earn credits at Shell stations for filling up between 45 and 100 gallons a month for personal use, up to $60 in credits a year.
Sunoco Gas Card: Even with an instant $0.05 discount per gallon at the pump, the rewards on the Sunoco card are a below average return. Fuel prices would have to drop to $1.67 per gallon in order for this card to be competitive with some of our best gas rewards credit cards.
Valero Gas Consumer Card: The Valero Gas Gonsumer Card has some of the lowest credits per gallon of fuel purchased – drivers partial to Valero are better off with a no-fee cash back credit card such as the Capital One® Quicksilver® Cash Rewards Credit Card. Ranging from $0.01 off each gallon of diesel to $0.02 off each gallon of super unleaded gasoline, these discounts are worth approximately 0.3% to 0.5% at the national average gas rates of $3.684 (May 2014).

How to Pick the Best Gas Rewards Card for you

Getting the best gas rewards credit card for you is about maximizing your gas rebate rate and the opportunity to earn rebates when paying for gas. Here are a few factors to consider when deciding how to earn the most gas rewards, and therefore, finding the best gas credit card for you.

Picking Your Gas Rebate Rate

There are three rebate rates when it comes to gas rewards credit cards: 10%, 5%, and 3%, and each has its own considerations. Next, these rates are split into periods for signing promotions and ongoing rates. Lastly, there's the higher rewards rate for gas vs. non-gas spending.
The gas rebate rate should have a rewards rate higher than 1.5%, otherwise, you could just get 1.5% on a great cash back card like the Capital One® Quicksilver® Cash Rewards Credit Card. 10% is the absolute highest gas rebate, but that is an introductory rate for two months with a low ceiling on rewards (the Hess credit card). 5% is the highest continuous rebate that you can get on fuel purchases. Only two credit cards offer this on a constant basis (PenFed and Fort Knox), and they're credit union cards that do require membership. Other gas station credit cards lead with a 5% introductory rate, but drop to a 3% long-term rewards rate after the promotion ends and can only be used at their own stations. Lastly, you have general purpose credit cards that offer 3% on spending at the pump, with varying levels of quarterly caps and annual fees, but higher rewards rates for select other categories besides gas.
Note that the rewards are based on how your gas provider is categorized. Generally speaking, standalone gas station units are eligible for the gas bonuses - fuel purchases at attached retailers or in supermarkets do not count.

Consider Other Supplemental Category Bonuses

The rewards rate you earn on non-gas spending should be considered as well, since using a gas rewards credit card for non-gas spending may lower your overall rewards. Firstly, gas station credit cards do not let you earn rewards at competing companies' pumps. Next, gas station credit cards typically offer just 1% on other general spending like groceries or clothing. A 1% rate is not worthwile compared to what you could be earning on a no-fee simple cash back credit card such as the Capital One® Quicksilver® Cash Rewards Credit Card. The general purpose credit cards also offer bonuses for other categories such as supermarket spending (subject to maxes or annual fees). While the 3% gas rewards on general credit cards are lower than 5% cards like Fort Knox or PenFed, you may get higher rates on other categories of spending that may balance out your overall rewards.
To get the best rewards for your gas spending, consider having a gas-specific credit card with a high reward rate for gas, and using your favorite all-around rewards card for other spending. Just keep in mind that paying off balances in full each month is paramount, otherwise whatever earnings you earn will be more than wiped out by high APRs.

Maximize Opportunity to Earn Gas Rewards

Where can you earn the most gas rewards? Do you frequent or live near a BP, Hess, or ExxonMobil gas station, or do you just go for whatever is closest or cheapest? These questions determine whether you should get a gas station-specific credit card or a general credit card with gas bonuses.
A brand-specific credit card might make sense if you frequent their gas stations, but some of them may provide rewards rates that are lower than what you'd get from a general cash back credit card. You should generally aim for a card with 3% gas rebates or higher, because that's what you'd get with a general credit card with gas rewards. Some gas stations only offer retail cards, which are cards that can only be used at their company's locations, and therefore restrict how much you can earn rewards on. They'll also cap how much you can earn in gas rebates each month or quarter, so check that the ceiling doesn't curtail your gas rewards potential. As a general rule, you don't earn rewards at another company's pumps. Lastly, as good as the rebates rate on gas is, you typically only earn 1% for using the card outside of the company's pumps.
If you just refuel wherever the cheapest cost per gallon, or the closest station is, then get a general gas rewards credit card. These cards don't care where you buy your fuel from, so you can maximize the spending you earn gas cash back on. Pay attention to any ceiling on gas bonuses, and see if it makes sense for your gas budget.

Paying with Cash vs. Credit

Some gas station proprietors differentiate prices between cash and credit card payments, so the rebate you get from using a credit card can be less than the savings from paying with cash. The price per gallon for credit card payments may be higher because vendors pass along the credit card interchange fee (what payment networks such as Visa and MasterCard charge vendors) to the driver. If the credit card surcharge is more than your rewards rate, then consider paying cash to save.

Compare Credit Cards For Gas Spending Based On The Way You Shop

Monthly Spend: $1,430
Card Annual Fee Net Rewards Rate
Rewards Value
Blue Cash Preferred® Card from American Express
Blue Cash Preferred® Card from American Express Image $95 2.32% $150 $795
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Terms and Limitations Apply
Citi Double Cash Card
Citi Double Cash Card Image No Annual Fee 2.00% $0 $686
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Wells Fargo Propel 365 American Express®
Wells Fargo Propel 365 American Express® Image $0 Intro Annual Fee for the first year then $45 1.89% $200 $649
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Costco Anywhere Visa® Card
Costco Anywhere Visa® Card Image No Annual Fee 1.74% $0 $598
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Chase Freedom®
Chase Freedom® Image $0 1.44% $150 $493
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BankAmericard Cash Rewards™ Credit Card
BankAmericard Cash Rewards™ Credit Card Image $0.00 1.29% $100 $443
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PenFed Platinum Cash Rewards Plus Card
PenFed Platinum Cash Rewards Plus Card Image No Annual Fee 0.70% $0 $240
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Source: valuepenguin

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