More than 50% of the families own two cars and thus the demand for gasoline is on an increase. The significant amount of the household expenses includes the gasoline cost. To help the customer save and induce more and more people to rely on the use of the credit cards, most credit card companies have come up with the gas reward credit cards to choose from. Top 5 gas reward credit cards to choose from are:
1. Visa Platinum Cashback Rewards Card From PenFed: Firstly, to apply for this card, one must be a member of Pentagon Federal Credit Union. This membership is open to members of the military, US government employees or their families and relatives. But one can also become eligible by joining the National Military Family Association by donating a $20 one-time fee. There is no annual fee for this card and one gets 5% cash back on purchases of gasoline. Apart from this, it also offers 0.25% cash back on other purchases.
2. True Earnings Card from Costco and American Express: This is a two-in-one card. It is an American Express Card and a Costco membership card with zero annual fees for Costco members. One gets 3% cash back after purchasing $3000 of gasoline and 1% after that. Apart from this one also gets 3% cash back on restaurant purchases and 2% cash back on travel purchases. But one has to wait for a year to get the cashback which is given in terms of rewards.
3. Blue Cash Everyday card from American Express: One of the best features about this card is that it gives a $100 cash back bonus after spending $1000 in the first three months. This card offers a 3% reward rate on gasoline purchases. After using this card, one can get 3% cash back at U.S. stand-alone supermarkets, 2% cash back on gasoline at U.S. stand-alone gas stations and select major department stores and 1% cash back on other purchases. There is no annual fee required for this card nor is there any cash limit on this card.
4. ExxonMobil Platinum Mastercard: This Mastercard offers a 15 cent per gallon rebate on Exxon and Mobile purchases. There is no annual fee for this card but to obtain this card one needs to have a fair credit rating of 660+. Usually the customers get higher rewards when the gasoline prices go down whereas they receive lesser rewards when the gasoline prices go up. Apart from this, after a purchase of their first $10,000 dollars, the customers receive 2% cash back after a year and 1% after that.
5. Chase Marathon Mastercard: The Chase Marathon offers a 10% rebate for purchases of gasoline at any Marathon stations for the first 60 days. This card also pays 5% rebate on purchases from Marathon gasoline stations and 1% on other purchases. The higher rebate policy for Chase Marathon Mastercard is an advantage as compared to the other cards. There is no annual fee charged to the cardholder but one can only earn the 5% rebate at the marathon stores.
Before picking up a new card, it is crucial to go through the features of the card which can help the customer in narrowing down the purchase.