People generally get credit cards that offer reward programs that is why many credit cards nowadays offer rewards every time you use it. So, in using gas reward cards, you earn points as you fill up your tank; you pay less and less for each gas refill. Who would not want a deal like that, especially in today’s worsening economy where the prices of oil-based products are shooting sky high?
Most credit cars have good offers while some have high APR (annual percentage rate). But there are those like the Capital One® No Hassle Miles(SM) Rewards For Travel & Gas card –which is available as a visa card—offers 0% interest for every purchase until October 2009 and 9.90% for the succeeding months. Although be careful since it has a 22.9% interest when it comes to cash advances.
It is important to know the terms of conditions of the gas reward card that you are choosing because this can severely affect your usage of the said card. For example, some card companies will only allow you to fill up at certain gas retailers but has lower rewards, while others allow you to choose any gas station. You must decide which is more convenient for you. If you are out on the road and go out of town most of the time, then it would be a better option to get the card that offers to any gas station even though it has lower rewards. Since you are on the road most of the time, there may not be the specific gas retailer when you need it. The Capital One® No Hassle Miles(SM) Rewards For Travel & Gas card gives you up to 3 miles per dollar spent on travel and gas, and 1 mile for all other purchases. Some cards offer up to only 1 mile.
Another thing to consider as well is that some cards offer bonus miles when issued with specific cards. It would be great if you can look for a card that offers no annual card fee because some cards can charge up to 29% a year or even more!
It is also important to note when you can get your reward for using your gas card. Some companies give it at the end of the month, while some require you to reach a certain amount of points before they give it. Some cards companies require you to request your rewards by calling them. Also check if the reward will expire if unused and how long will it take before it expires.
Credit card companies earn money from their clients regardless of the case, so it would be good of you can at least get something from them. Any type of reward from a credit card is a good thing. Since it will be you who will benefit most from the card, better make sure that the card you are getting is suitable for you. Take your time looking around and earn rewards each time you use your gas card.
See: Gas cards