If you are a driver and want to know 5 Cashback Credit Cards for Gas Purchases in 2024 then you are in right place, you know that filling up your gas tank can be a major expense, especially if you are on the road frequently. However, did you know that there are credit cards that offer cashback rewards specifically for gas purchases? By using a cashback credit card for gas purchases, you can earn money back on one of your most significant expenses.
In this article, we will look at the top 5 cashback credit cards for gas purchases in 2024. We will explore the criteria for selecting the best credit cards for gas purchases, and we will analyze the benefits of each of the top 5 cards. Whether you’re a frequent driver or just looking to save some money at the pump, this article will provide you with valuable insights into the best cashback credit cards for gas purchases in 2024.
Criteria for selecting the best credit cards for gas purchases
Here are some criteria for selecting the best credit cards for gas purchases:
Cashback rates for gas purchases
The most important factor to consider when selecting a cashback credit card for gas purchases is the cashback rate. Look for credit cards that offer higher cashback rates for gas purchases, as this can help you maximize your rewards.
Annual fees and other charges
Another important factor to consider is the annual fee and other charges associated with the credit card. Look for credit cards with low or no annual fees, as well as those that don’t have additional fees or charges that could eat into your rewards.
Other benefits offered by the credit card
Finally, consider any other benefits that the credit card may offer, such as rewards for other types of purchases, sign-up bonuses, or perks like travel insurance or extended warranties. While these benefits may not be specific to gas purchases, they can still add value to the credit card and help you earn even more rewards.
The top 5 cashback credit cards for gas purchases in 2024
Chase Freedom Unlimited
The Chase Freedom Unlimited credit card offers a flat 1.5% cashback on all purchases, including gas. This card has no annual fee and also offers a sign-up bonus of $200 after you spend $500 within the first three months.
Discover it Cash Back
The Discover it Cash Back credit card offers 5% cash back on up to $1,500 in purchases in rotating categories, which often include gas stations. This card has no annual fee and also offers a unique bonus for new card members – Discover will match all the cash back earned at the end of the first year.
Bank of America Cash Rewards
The Bank of America Cash Rewards credit card offers 3% cash back on gas purchases, as well as 2% cash back on groceries and wholesale clubs, and 1% on all other purchases. This card has no annual fee and also offers a sign-up bonus of $200 after you spend $1,000 within the first 90 days.
Citi Double Cash
The Citi Double Cash credit card offers 2% cashback on all purchases, including gas. This card has no annual fee and also offers a unique reward structure – you earn 1% cashback when you make a purchase, and another 1% cashback when you pay off the purchase.
Blue Cash Preferred Card from American Express
The Blue Cash Preferred Card from American Express offers 3% cash back on gas purchases, as well as 6% cash back on groceries (up to $6,000 per year) and 1% on all other purchases. This card has an annual fee of $95, but the high cashback rates on gas and groceries can easily make up for the fee.
These are the top 5 cashback credit cards for gas purchases in 2024. By selecting one of these cards, you can earn valuable rewards on your gas purchases and save money at the pump.
Comparison of the top 5 cashback credit cards for gas purchases
Chase Freedom Unlimited
This credit card offers a flat 1.5% cashback on all purchases, including gas. It has no annual fee and offers a sign-up bonus of $200 after spending $500 in the first three months. While it does not offer the highest cashback rate on gas purchases, it has a strong rewards structure for overall spending.
Discover it Cash Back
This credit card offers 5% cash back on up to $1,500 in purchases in rotating categories, which often includes gas stations. It has no annual fee and offers a unique bonus for new card members – Discover will match all the cash back earned at the end of the first year. While the high cashback rate is attractive, it is limited to a certain amount of spending and is subject to change each quarter.
Bank of America Cash Rewards
This credit card offers 3% cash back on gas purchases, as well as 2% cash back on groceries and wholesale clubs, and 1% on all other purchases. It has no annual fee and offers a sign-up bonus of $200 after spending $1,000 in the first 90 days. It offers a strong cashback rate for gas purchases and additional rewards for other types of spending.
Citi Double Cash
This credit card offers 2% cashback on all purchases, including gas. It has no annual fee and offers a unique reward structure where you earn 1% cashback when you make a purchase and another 1% cashback when you pay off the purchase. While the cashback rate for gas purchases is not the highest, the overall cashback structure can be attractive for those who pay their balances in full each month.
Blue Cash Preferred Card from American Express
This credit card offers 3% cash back on gas purchases, as well as 6% cash back on groceries (up to $6,000 per year) and 1% on all other purchases. It has an annual fee of $95 but offers high cashback rates on gas and groceries. However, the annual fee can be a turn-off for some users.
The top 5 cashback credit cards for gas purchases in 2024 have their unique strengths and weaknesses. The best card for you will depend on your spending habits, rewards priorities, and willingness to pay an annual fee. By considering the benefits of each card and matching them with your needs, you can select the credit card that offers the most value for your gas purchases.
Conclusion
Having a credit card that offers cashback rewards on gas purchases can help you save money at the pump. There are several options to choose from, including the top 5 cashback credit cards for gas purchases in 2024: Chase Freedom Unlimited, Discover it Cash Back, Bank of America Cash Rewards, Citi Double Cash, and Blue Cash Preferred Card from American Express. Each of these cards has its unique features and benefits, so it is important to choose the one that fits your spending habits and rewards priorities. By selecting the right card, you can earn valuable cashback rewards on your gas purchases and other spending, and ultimately save money in the long run.
FAQs
What is the best card for gas rewards?
The Blue Cash Preferred Card from American Express offers 3% cash back on gas purchases at US gas stations, which is one of the highest reward rates available for gas spending. It also offers 6% cash back on select US streaming services, 6% cash back on eligible US supermarkets (up to $6,000 per year, then 1%), and 1% cash back on all other purchases.
The card has a $0 introductory annual fee for the first year, then $95 annually, which is relatively low compared to other premium credit cards. Additionally, new cardholders can earn a generous welcome bonus of $300 after spending $3,000 on purchases within the first 6 months of account opening.
Is there a credit card that can only be used for gas?
There are no credit cards that can only be used for gas purchases, as credit cards are generally accepted at most merchants that accept card payments. However, there are credit cards that offer higher rewards for gas purchases or limit their rewards to gas purchases. For example, the Fort Knox Federal Credit Union Visa Platinum Card offers 5% cash back on gas purchases, and the Ducks Unlimited Rewards Visa Card offers 5% cash back on gas purchases and sporting goods stores. These cards may also offer lower reward rates for other purchases or limit the rewards to certain categories. It’s important to carefully review the terms and conditions of any credit card before applying to ensure it fits your spending habits and goals.
Is paying for gas with a reward card worth it?
Using a rewards credit card to pay for gas can be worth it if you are able to earn rewards that exceed the cost of any fees or interest charges associated with the card. Here are a few factors to consider:
Rewards rate: Look for credit cards that offer a high rewards rate on gas purchases. Many credit cards offer 3% to 5% cash back or points for gas purchases, which can add up quickly if you use your card for all of your gas expenses.
Fees and interest rates: Make sure to read the fine print and understand any annual fees, balance transfer fees, or interest rates associated with the card. If the fees and interest rates outweigh the rewards you earn, it may not be worth it to use the card for gas purchases.
Payment habits: If you carry a balance on your credit card or frequently miss payments, the interest charges and late fees can quickly negate any rewards you earn. Make sure to pay off your balance in full each month and always make payments on time to avoid fees.