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According to the Bureau of Labor Statistics, gas purchases made up about 3% of the average U.S. household's annual spending in 2019. That might not sound like much, but it added up to nearly $2,100 per year. If you feel like you're spending too much on gas, the right credit card can really help you save. That's because some of the best credit cards for gas purchases reward you for paying by card at the pump, either through savings or other benefits.
These credit cards offer great perks that can help you save money or earn bonus rewards at gas stations.
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Bank of America® Customized Cash Rewards credit card
Cardholders can earn 3% cash back on up to $2,500 in combined spending each quarter in the category of their choice from a list that includes gas, online shopping, dining, travel, drugstores, or home improvement and furnishings. They earn 2% cash back at grocery stores and wholesale clubs; then 1% after that as well as on all other purchases. The card does not charge an annual fee.
Among the reasons cardholders can feel secure using this card at home as well as on trips is the fact that Bank of America will monitor your purchase patterns to block potentially fraudulent transactions and let you know if any are suspected. Folks with the card can also rest easy thanks to a $0 liability guarantee for such transactions. Using Bank of America's online and mobile banking app, cardholders can do things like pay their credit card bill, check available credit, and transfer funds from practically anywhere, as well as setting up notifications about balances, due dates and payments. Digital wallet technology allows cardholders to add the card to a mobile device and shop in store or in app using Apple Pay, Google Pay or Samsung Pay.
Right now, new applicants can earn a $200 cash bonus after making at least $1,000 in purchases in the first 90 days with the card and can enjoy 0% introductory APR on purchases for the first 15 billing cycles. The card's ongoing APR is 14.24% - 24.24% variable.
You may be matched with this and other cards at Experian CreditMatch™
How Do Gas Credit Cards Work?
Gas credit cards usually earn bonus points or cash back at gas stations. There are three main types of gas credit cards to consider.
Cash Back Cards With Gas Bonuses
Some credit cards that earn cash back on everyday purchases also offer bonuses for spending at gas stations, specifically.
Credit Cards From a Specific Chain
Certain large gas station chains field their own proprietary credit cards, many of which offer tremendous savings for purchases you make at their locations. For example, with the Shell | Fuel Rewards® Mastercard®, you can save up to 10 cents per gallon on purchases of up to 20 gallons, and enjoy 10% Shell rebates on your first $1,200 of Shell non-fuel purchases per year. Aside from that, the card also offers 2% Shell rebates on up to $10,000 in dining and grocery purchases per year, and 1% Shell rebates on other qualifying purchases. Cardholders can redeem Shell rebates as statement credits toward Shell purchases made with their card in future billing cycles.
When choosing which gas credit card is best for you, think about the types of rewards you want to earn—cash back, points and miles, or straightforward rebates with a single company—and pick the one for which you qualify that offers the most rewards.
Is a Gas Card Worth It?
If you're trying to decide whether it's worth opening or carrying a gas credit card, consider the following factors.
Do you spend enough on gas to make getting a gas card worth it? By choosing a card focused on rewarding you for gas purchases, you might shut yourself off from other options where you could earn even more rewards in a different category in which you actually spend more money, such as travel or dining. Take a look at your expenses, focus on the categories where you do most of your spending, and pick a card you can maximize for rewards in those categories, whether they include gas or not. Or, if it works for you, carry multiple credit cards and switch them out based on what you're buying.
Do you get most of your gas from a specific company? If you (almost) always get gas from the same chain, or even the same gas station, you might want to get a card with the specific company whose gas you buy the most. That's because you will usually earn more cash back or other rebates with a co-branded card like that than you would with a more general product.
Don't forget about travel rewards cards. If you prefer earning travel rewards to cash back or rebates, look to airline and hotel cards that might earn bonus miles or points on gas purchases instead.
For instance, the Hilton Honors American Express Surpass® Card earns 6 Hilton Honors Bonus Points per dollar at U.S. gas stations, among other categories, so you can put your transportation spending toward a rewards vacation sometime down the road. Terms apply.
What Credit Score Do I Need to Get a Gas Card?
If you have gone over your monthly spending and all your card options, it might be time to apply for a credit card that earns bonus cash back or rewards on gas. At that point, you just need to be sure your credit score will qualify you for the card you want.
As with other types of rewards credit cards, the best gas cards usually require you to have either a good or excellent credit score. Before you apply for a card, check your credit score and see if you are eligible. You can also use Experian CreditMatch™ to be matched with cards based on your individual credit profile.
The best credit cards for gas purchases can save you money or help you rack up bonus cash back or rewards points at gas stations. If you drive a lot and gas is one of your major expenses, carrying a gas credit card is a great way to maximize your everyday spending. Before you apply for one, though, think about the types of rewards you want to earn, the cards for which you might qualify, and which gas stations you frequent the most. By narrowing down your choices to the cards that will earn the most rewards on your specific gas purchases, you can end up earning a lot more cash back or rewards points than with other credit cards.
All information about the Shell | Fuel Rewards® Mastercard® has been collected independently by Experian and has not been reviewed or provided by the issuer of the card.