Using Credit Cards to Cut the Cost of Gas – Five Cards That Can Save You Money

Written by: Valencia Higuera

With financial experts predicting that gas prices will hit $5/gallon in the future, it’s no surprise that many people are looking for ways to cut the cost of gas. Driving is necessary for everyday life, and unless you take public transportation, carpool or walk, there’s no way to avoid high gasoline prices. You can’t wish gas prices back to $2.50 a gallon, but you can find ways to save money on gas.

Getting creative doesn’t suggest trading in your car for a hybrid or dusting off your bike. In fact, the solution to high fuel costs might be sitting in your wallet. Several credit cards feature rewards  programs that give you cash back on gasoline purchases. You can apply these cash rewards to future fuel purchases and save money. If you don’t have a rewards card, perhaps now’s the time to apply for one.

Blue Cash Everyday form American Express

Not only does this credit card offer 0% interest on purchases for the first 12 months, you also receive 2% cash back at gas stations. There is no minimum to qualify for cash back, no annual fee and no enrollment fee. What’s more, tell a family member, coworker or friend about the card, and receive a $25 bonus when they’re approved — that’ll get you at least a half tank of gas.

Discover Open Road Card

Get an automatic 2% Cashback bonus at gas stations and pay 0% interest on balance transfers and purchases for the first 15 months. There is no annual fee, nor do you pay a fee to redeem your reward. Request an additional card at no extra charge for your spouse and you both can save money at the pump.

Citi Thank You Preferred Rewards Card

Receive five Thank You points for every $1 you spend at a gas station for the first 12 months, and then one point for every $1 you spend after the introductory period. The more you drive, the more points you accumulate. Plus, you also receive points for shopping at grocery stores and drugstores. This credit card has no annual fee and no limit to the amount of points that you can earn.

TrueEarnings Card form Costco and American Express

Spend up to $3,000 in fuel costs a year and receive 3% cash back. The CashBack bonus drops to 1% once your annual gasoline purchases exceed $3,000. Earn 2% cash back at restaurants, 2% cash back on travel and 1% cash back on every other purchase. And the best part, AmEx wavies the annual fee for Costco members.

Capital One Cash Rewards

The more you shop with the Capitol One Cash Rewards credit card, the more you can earn. In fact, you will earn a $100 bonus simply by spending $500 within your first three months. Depending on how much you drive, this $100 bonus can pay your fuel expense for a couple of weeks — or more. This credit card pays 1% cash back on all purchases and you can redeem your points at any time. There is no annual fee and you pay 0% interest on purchases and balance transfers through March 2013.


Using Credit Cards to Cut the Cost of Gas –...

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