In this time of high gas prices, I am searching for a credit card that
will give me maximum rewards when I make gas purchases (or purchases
at gas stations). I carry no credit card debt and pay off my credit
cards every month.
Thanks for any recommendations, - Dave
All will likely have limits, so you may want to consider several cards.
Discover, for example, will rebate 5% of gas at select stations (pay at
pump & not chains such as Walmart & similar warehouse retailers ) during
the months of July - Sept, but only to a maximum of $20 ($600 in gas) -
assuming you remember to sign up for that rebate each year (prior to
buying the gas)..
Citibank has several card options typically refunding 2-3% of gas &
groceries with a $300/yr maximum rebate. I read somewhere that some may
have a maximum of $20/month in rebates.
Chase / AAA advertises a 5% rebate on gas, but only up to the amount
charged on other goods (5% rebate on $200 gas will require another $200
in charges on other goods). You'll need to maintain accurate records
to maximize that rebate.
Be aware that each card will have its "small print" - essentially
hidden limits .
see http://www.creditcardguide.com/gascards.html to see some of the
gimmicks.
http://www.bankaholic.com/credit-cards/gasoline/ - Chase Freedom card
is probably the best at this time.
I'd recommend searching for a card that will give you the maximum rewards
regardless of what you buy with it. The money you get/save can be used to
partially offset your costs for gasoline.
For instance, I spend far more at the supermarket than I do at the gas
station - using a card that'll give me rewards for my supermarket spending
will probably net me much better than using a card that only paid off on gas
purchases.