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Gas Credit Cards - Are They Right For You?
Even though the shock of .00 a gallon gas prices has sunk in, finding some relief at the pump is what a lot of people are still looking for. One solution to the problem may be with a gas credit card.
As long as I need to use gasoline, paying the least amount possible is a priority. Having a gas rebate card helps to save me the most amount of money possible.
How do these cards work? Every time you fill up your tank and use your card, the credit card company will give you a rebate on the amount charged. Usually, you'll see the amount of the rebate taken off of your monthly statement.
How much are the rebates? Generally speaking, you can expect anywhere from as low as 1%, to as much as 6% on all your gas purchases for that month. The key is to shop around and look over the various credit card offers to find the best one for your situation.
Some of the things to look for with any gas card include:
What is the interest rate being charged? The key element here to watch out for is that the APR of the gas credit card isn't significantly higher than the interest rate on your regular Visa or MasterCard. Rebate or not, if you have a 7-10% difference in the APR, the gas card is going to cost you more money in the long run.
What are the restrictions? You'll need to be sure and look over the offer to find out if you're limited to a pre-set rebate amount. Some companies have very low pre-set limits on the total rebate amounts they will pay out. So, if you and family use a card like this, you could reach the total payout rather quickly.
How do they pay out the rebate? Some companies subtract the rebate off your monthly credit card statement, while others may send out a check or gift card. Look over various credit offers and think about what works best for you.
You can find just about any type of gas credit cad on the Internet. You can find companies that allow you to apply online and get the card that is right for you. It may be the relief you're looking for in reducing those high fuel costs.
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About the Author: Terry Edwards is the owner of Credit Cards A-Z, a site providing great information and help with credit cards. Find out more about Gas Credit Cards as well as get more information about all types of credit cards at http://www.CreditCardOffersA-z.com