The Best Gas Credit Cards
Gas prices have fallen to some of the lowest levels that we have seen in recent years. These low prices should be with us for most of 2016. That means that as we push towards spring and the summer driving season more people will be hitting the road for weekend trips and weeklong vacations.
Before you fuel up the car, make sure you know the best credit card to use so that you can maximize your rewards. Here are some of our favorites for 2016.
Blue Cash Preferred® Card from American Express
One of the best gas credit cards in terms of the return you will receive is the Blue Cash Preferred® Card from American Express, a Credit Cards House advertiser. With this card, you will earn 3% cash back on all U.S. gas station purchases throughout the year. The biggest downside to this card is that it also has a $95 annual fee. However, the card will also give you 6% cash back on up to $6,000 worth of U.S. supermarket purchases each year, which will easily make up for the annual fee.
- Welcome Bonus – You will receive a $200 statement credit after you spend $1,000 within the first three months of being a cardholder.
- Rewards – You will receive 3% cash back on all U.S. gas station purchases, 6% cash back on up to $6,000 worth of U.S. supermarket purchases each year, and 1% back on all other purchases.
- Fees – This card charges a $95 annual fee to its cardholders. If you will be using this card outside of the United States, there is also a 2.7% foreign transaction fee. Balance transfers have a fee of $5 or 3% whichever is greater.
Chase Freedom® Card
The Chase Freedom® card is currently one of our favorite cards because it has rotating 5% cash back categories each quarter. At least one quarter each year always includes gas stations making this one of the best cards for gas purchases.
- Signup Bonus – You will receive $150 cash back after you spend $500 in the first three months of being a cardholder.
- Rewards – You will receive 5% cash back on different categories each quarter (up to $1,500 combined). Categories frequently include gas stations, restaurants, retail stores, Amazon.com, and more. For any purchase that does not fall into the bonus categories, you will receive 1% cash back. To receive the quarterly bonus cash back amount you will need to opt in at the start of each quarter.
- Fees – This card does not have an annual fee, however it does have a 3% foreign transaction fee if you use the card outside the United States. If you choose to make a balance transfer you will be charge 3% or $5 whichever is greater.
Bank of America® Cash Rewards Card
The Bank of America® Cash Rewards Credit Card is another credit card that offers 3% cash back at gas stations. You will also earn 2% cash back at grocery stores and wholesale clubs. It’s important to know that this cash back bonus is only good for a combined $2,500 in purchases each quarter.
- Signup Bonus – When you sign up you will receive a $150 bonus after making $500 in purchases within the first 90 days of having the card.
- Rewards – You can earn 3% cash back at gas stations and 2% back at grocery stores and wholesale clubs on the first $2,500 in purchases each quarter. For all other purchases you will earn a standard 1% back. If you choose to redeem your cash back into a Bank of America checking or savings account you will earn a 10% bonus.
- Fees – This card does not have an annual fee, but there is a balance transfer fee of 3% or $10, whichever is greater.
Citi® Double Cash Card
While the Citi® Double Cash Card, a Credit Cards House advertiser, does not specifically offer a cash back bonus for purchases made at gas stations, they do offer 1% cash back on all purchases and another 1% cash back when you pay your bill.
- Signup Bonus – There is no signup bonus available for this card.
- Rewards – You will earn 2% cash back on purchases: 1% cash back when you make your purchase and another 1% cash back when you pay your bill. There are no caps to the amount you can earn and this is good for all purchases.
- APR – There is an introductory APR of 0% for the first 18 months on balance transfers. Any balance transfer must take place in the first four months of opening the account. After the introductory period is over there will be an APR of 18.49% - 28.49% (Variable).
- Fees – There is no annual fee with this card. For balance transfers you will be charged either $5 or 3%, whichever is greater.
Editorial Note: The information related to Chase Freedom® Card has been collected by Credit Cards House and has not been reviewed or provided by the issuer of this card.
First published , last updated
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.