Fill 'er Up: Earning Rebates with a Gas Rebate Credit Card

Are you feeling a little light in the wallet? Suddenly regretting the decision to go for the V-8 engine? Vowing to look into one of those hybrid cars?

Chances are you’ve just been to the gas station.

With gasoline prices soaring, many are searching for ways to cut costs at the pump. If you’re one of them, credit cards that offer rebates for gas purchases might be up your alley.

Traditionally, gas rebate credit cards (or gas credit cards) have been affiliated with a particular company or brand of gas, such as Shell, ExxonMobil, Phillips 66, and Marathon, among others. These cards are great if you habitually purchase your gas from a specific company, but not so handy if you’re not particular about where you fill up and find it aggravating to have to search for a certain gas station.

Newer cards give more versatility by offering rebates regardless of where you fill your tank. Ira Stoller, Senior Member on the CardRatings.com Message Board, asserts “ten years ago, credit cards charged consumers a premium for using their credit cards at the pump. Now these same companies have recognized that pay-at-the-pump business is huge, and they’re engaging in a ‘semi-battle’ competing for that business by offering increasingly better rewards and rebates.”

While many cards offer rebates or rewards for many types of purchases including gas, a few are catering specifically to consumers looking for breaks on gas purchases. Most do not charge an annual fee, or the annual fee is waived with a minimum annual purchase(s).

Chase Perfect Card

The Chase Perfect Card offers a 6% rebate on all gas purchases made at any gas station during a 90 day introductory period, and 3% thereafter. Also offers 1% rebate on all other purchases with the card. Rebates are automatically credited towards future purchases.

AAA Visa® Card

AAA Cards offers up to a 5% rebate on any brand of gas that is purchased at the pump. While it does not offer a cash rebate on non-gas purchases, the rebate is offered for gas regardless of where it’s purchased. The only restriction is that rebates for most AAA cardholders are capped at 2 percent of total monthly retail charges. So, if you only use the card for gas purchases, then you rebate will be limited to 2%. Rebates are automatically credited towards future purchases. Stoller likes the versatility of the card. He states “most other cards limit you to one type of gas or the rebates can only be used to purchase gas. The AAA Card gives cash rebates credited to your card for any brand of gas.”

Discover Platinum Card with the Cashback Bonus® Plus Program

Discover Platinum Card is a card that offers rebates on most purchases including gas. The card offers up to 5% of each gas purchase, plus up to 1% of each purchase on other purchases – based on the annual level and type of purchases. Gas purchase awards are applied when you pay at the pump or in the station. The site states consumers can earn “up to 10% Cashback Bonus® award when you exchange cash award for up to double the amount in certificates for products and services from our Cashback Bonus® Partners,” so this is one to investigate if you like the products and services affiliated with the Discover Cashback Bonus® program.

Advanta Business Rewards Platinum MasterCard®

For small businesses, the Advanta Platinum Business MasterCard with gas rebates is a smart choice, with up to a 5% rebate on all gas purchases (certain restrictions apply).

If you want to make the most of your credit portfolio without carrying too many cards, look into one of the cards that offers rebates for gas and other purchases, such as Citibank's Dividend Platinum Select® MasterCard® or Blue Cash® from American Express. The Citibank card offers a full 5% cash rebate on stand-alone gas station, supermarket and drugstore purchases and a 1% rebate on all other purchases (up to $300 a year). The Blue Cash® card offers up to 5% cash back (the rebate is tiered) on purchases at stand-alone gas stations, drugstores, and supermarkets and up to 1.5% cash back on all other purchases.

With a little thought and planning, you can make credit cards work for you. There has never been a better time to check into a credit card that gives cash rebates for your gasoline purchases. You’ll certainly remember that the next time you hit the pump for a fill-up!

Please visit our Card Reports section to find out more information about the cards referenced in this article, including our current ratings of the cards and application information.

Rebecca Lindsey is a Senior Staff Writer for http://www.CardRatings.com She began writing articles about consumer credit issues for CardRatings.com in September 2000. Her articles have been republished and/or referenced by leading publications throughout the country, including Live Well on Less Than You Think: The New York Times Guide to Achieving Your Financial Freedom by Fred Brock.