Gas Rebate Credit Cards
Gasoline is a necessary evil; its price could go sky high but we still buy them. Even at gasoline’s highest pump price at $4.50 per gallon, people keep on buying them as there is no alternative to it. The only way to mitigate the high cost of gasoline is to look for savings options. One can minimize driving by taking public transport, trading your gas guzzler for an economical model, or learning how to drive at a speed that is considered most fuel efficient.
A new popular way of saving money on gas is through the use of a credit card that offers rebate every time you fill up at the pump. The mechanics are simple: you apply for a gas rebate credit card and they give you up to 10% rebate for all your gas purchases. With the price of gas lowering a lot since its highest level a few months back but with no guarantee that it will remain low for the foreseeable future, gas rebate cards become special tools of saving some rapidly disappearing money. A ten percent savings on a $30 tank of gas is indeed a powerful incentive to apply for a gas rebate credit card.
Credit cards that give rebates on purchases work different ways. Some of them give rebates by sending the card holder gift cards or discounts on other purchases. One popular method of granting rebate is by crediting the amount you saved on your account so that when you received your bill at month’s end, it will be ten percent less than your actual total gas purchase. It will also translate into a lower monthly interest payment as the total amount that is subject to financing charge is already ten percent lower that what is should originally be. In effect, this is double savings on your part.
The most popular credit card that offer this rebate is the AAA Diamond Advantage Visa issued by MBNA that offers a five percent rebate on any gas brand purchased plus a reward point for every dollar. The accumulated reward points are applied automatically to your account. Upon accumulating 5,000 points, a $50 gift certificate for AAA services is issued.
Shell MasterCard from Citibank gives a five percent rebate on gas purchases and one percent rebate for other purchases. The savings is automatically credited to your account. Nine or more purchases of Shell gasoline in a given year will waive the annual $20 credit card fee.
When choosing a gas rebate card, you should examine closely all offers of rewards and find out the best one that suits your spending habit. Cutting your gas bill by ten percent, plus the reduction in the finance charges, would mean a lot to your finances. Choose a credit card that offers a great cash back option and a generous rewards point system. This will be your best bet in the world of shrinking money and spiraling cost of commodities.
See: Gas card rebates