Gas prices are on their way back up again. When the economy tumbled in the past few years, gas prices dropped from their highs, but they are now increasing fairly steadily. It’s hard to imagine where the price of gas will be just one year from now, but it makes sense to continue preparing for higher gas prices for an extended period of time.
Gas credit cards are an excellent way to reduce the effect of spending for gasoline each and every week. Depending on your situation, there may be a few options that suit your gas purchasing needs and after careful review, one gas rebate credit card stands out amongst the rest.
Ink Cash® Business Credit Card New cardholders approved for the Ink Cash card can earn $200 bonus cash back. In order to qualify for the cash back bonus you must spend $3,000 in three months from account opening. The card also offers 5% cash back on spending within categories appropriate for business owners, such as purchases in office supply stores, cable services and telecommunication services on the first $25,000 spent annually. The 2% cash back on the first $25,000 spent annually at gas stations and restaurant benefits consumers who are looking for these rewards.
TrueEarnings® Card from Costco and American Express. With 3% cash back for gasoline at US gas stations and on gasoline at Costco, many consumers consider the TrueEarnings Card one of the best in this category. The 3% cash back tier expires after $4,000 is spent annually in this category and at that point consumers will continue to earn at a rate of 1%. Most commuters won’t reach this threshold. For example, with an average price of $3.50 per gallon, a car that gets 30 MPG, and a driver who clocks 15,000 miles a year, the expected gasoline expense would be $1,750 during that year. The card also offers 2% cash back on eligible purchases at US restaurants, 2% cash back on eligible travel purchases, including at Costco and 1% cash back on other purchases, including at Costco. Terms and limitations apply. Cash back rewards will be distributed annually in the form of a reward coupon. There is no fee for this card as long as you are an active member of Costco. Terms and restrictions apply.
Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
Important Note! The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we can not guarantee the accuracy of the information in this article. Please verify all terms and conditions of any credit or charge card prior to applying.
Updated March 3, 2014 and originally published July 23, 2010. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.