| Cash Back Credit Cards: Gas Rebate Cards Can Save You Money at the Pump
Many people are only familiar with the gas credit cards offered at the gas station, such as the Exxon Mobile Credit Card, Sunoco Credit Card, Conoco Phillips Credit Card, Chevron Texaco Credit Card or the Shell Credit Card. These credit cards are tied to one specific gas station and often charge very high interest rates. However, individuals looking to save money on gas should look at the wide range of low interest gas credit cards currently available online. These credit cards offer the flexibility of choosing which gas station to use, as well as anywhere from 1% to 5% cash back on all gas station purchases.
Over the past few years, credit card companies have substantially reduced cashback credit card rewards percentages. A few years ago, a number of credit card companies offered 5% cashback on gas purchases. Today, most credit card companies that continue to offer 5% cash back credit cards rotate the categories you earn the most in, and gas purchases may only earn 5% during three months a year.
Because many credit card applications now provide less cash back on gas, the best gas credit cards tend to offer about 2% on all gas purchases made at any gas station all year. The Discover Open Road card is one such gas credit card with this type of offering.
Despite the fact that gas credit cards aren't as rewarding as they used to be, they still offer significantly more value than gas station credit cards. The main source of value comes in the form of lower interest rates. Gas cashback credit cards issued by major credit card companies tend to come with much lower interest rates than gas station specific credit cards. Plus, many gas credit cards are also 0% APR credit cards.
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