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Gas Rebate Credit Card Roundup
Wednesday, May 17th, 2006Editor’s Note: While the information presented was accurate at the time of publication, it is now outdated. For the latest details on these cards, see the following links:
Posted May 17, 2006 — Is the price of gas hurting your pocketbook? If you don’t already have one, maybe it’s time to consider adding a credit card that gives you a rebate on your gas purchases. Below is a compilation of these cards:
- Citi Dividend Platinum Select – 5% rebate at gas stations, grocery stores and drug stores
- Chase Cash Plus Rewards – 5% rebate at gas stations, grocery stores and drug stores
- American Express Blue Cash – 5% rebate at gas stations, grocery stores and drug stores/1.5% everywhere else once your year-to-date spending reaches $6,500; 1% at gas stations, grocery stores and drug stores/0.5% for the first $6,500 of spending in a year
- Discover Platinum Gas Card – 5% rebate on gas
- Hess Platinum Visa – 10% rebate at Hess during the first 90 days; 5% afterwards
- Chase PerfectCard – 6% rebate on gas during the first 90 days; 3% afterwards
- Marathon Platinum Mastercard – 10% rebate at Marathon during the first 60 days; 5% afterwards
- BP Visa – 10% rebate at BP and Amoco during the first 60 days; afterwards, 5% rebate at BP and Amoco, 2% on eligible travel and dining; 0% at non-BP gas stations
- Speedway SuperAmerica Platinum MasterCard – 8% rebate at Speedway, SuperAmerica, and Rich Oil during the first 60 days; 4% afterwards
Note: Unless otherwise noted, each card also earns a 1% rebate on other purchases. For each card’s full terms and conditions, please visit the card issuer’s web site.
If you carry a balance, then ignore what I’m about to say, as reward cards aren’t for you. Instead, you should focus upon getting the card with the lowest interest rate.
Otherwise, for those looking for a gas rebate card, most will be best off with either the Citi Dividend, Chase Cash Plus or American Express Blue Cash, as they offer the most cash back at gas stations after the promotional period without tying you to a particular brand. Among those three, I would recommend either the Citi Dividend or the Blue Cash, since the Chase Cash Plus card is no longer being actively marketed and appears to have an uncertain future.
For big spenders, the Blue Cash may make the most sense as you’ll be able to fully take advantage of the higher tier of rewards. For everyone else, the Citi Dividend will offer the most value, as you earn 5%/1% from your first dollar. Do keep in mind that there are limits to your rebates. The Citi Dividend limits you to $300 cash back in a year, while the Blue Cash limits your rebates to the first $50,000 of spending in a year.
Looking for more?
Click here to see more American Express credit card offers.
Click here to see more Chase credit card offers.
Click here to see more Citi credit card offers.
Click here to see more Discover credit card offers.
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May 17th, 2006 at 3:48 pm
I am new to your blog and am interested in the topic. I am surprised more CC companies are not offering these rebates. Do most of the cards have cash back limits like the Citi Dividend? I would assume so. $300 does not seem like a lot but if saved or invested in a business it could yield some positive results.
May 17th, 2006 at 4:04 pm
Andrew, you’re correct in assuming that most cards have cash back limits. For example, the Chase Cash Plus card also limits you to $300 in cash back rewards. Keep in mind that these limits are per card, so there’s nothing preventing other members of your family from getting the same card for themselves, and effectively increasing your household’s limits that way. Or you could just get one of the other similar cards for yourself.
May 27th, 2006 at 12:02 am
Hi ccwatcher,
I have been looking for the way to apply the household credit card (if I remember correctly its name). It pays 2% cash back on everything. I believe it may be discontinued, but I’m not too sure. Do you think you can find out the details? Please feel welcomed to trackback to my article which you commented previously.
Thanks a lot. Also, You have a good focused blog.
frugal
May 27th, 2006 at 7:37 am
Hi frugal. Thanks for the comments.
The Household card you mention is rather elusive and appears to be by invitation only. There’s indications that you need to have adverse credit to be solicited. The best reference I can point you to on that card is this Fatwallet thread:
http://www.fatwallet.com/t/52/288784
May 30th, 2006 at 3:52 pm
ccwatcher,
Do you think you can write an article to compare the ROI on different types of reward credit cards, with actual numbers for airline tickets, and a conservative investment return on those 529 plan, etc.? I have always wondered exactly how other types of credit cards will compare with each other. If you do have such article, I will not hesitate to reference to your article on my frontpage.
I don’t have sufficient experiences with all kinds of credit cards, so I think you will be the best person to write about it.
Thanks.
June 23rd, 2006 at 10:26 am
[...] The limitation of $50 in monthly rebates obviously limits the maximum reward you can earn during the introductory period to $100, so you can think of this as a signup bonus of something less than $100. After the introductory period, there are better paying gas rebate alternatives. [...]