iQuanti: On average, Americans pump approximately 392 million gallons of gasoline a day, according to the U.S. Energy Information Administration. That means for many Americans, the rising prices of gas can have an impact on your monthly budget.
Whether you're beginning to commute to work again or planning trips to visit family and friends, the steady rise in gas prices can quickly add up. A gas credit card is a great way to put some money back in your pocket when you're fueling up and hitting the open road.
Why Choose a Gas Credit Card?
Many Americans spend hundreds of dollars a month on gas, which can add up to thousands every year. As prices continue to increase, some people will find themselves in a position where budgeting is necessary. A dedicated gas credit card can help you earn better rewards on the money you're already spending on gas.
Gas credit cards offer a higher rewards rate, usually in the form of cash back, on every dollar you spend on gas. That means you could double your cash back earned at gas stations. If gas makes up a substantial (or increasing) portion of your typical monthly spend, that could mean a substantial amount of cash back. Using a gas card also lets you keep track of fuel expenses, making budgeting simple and convenient.
How to Pick a Gas Credit Card
When comparing gas credit cards, there are a few factors to consider.
- One is whether the card is affiliated with one specific gas company and only offers benefits at their stations.
- These cards may offer good reward rates, but another thing to look for is a generous offer for new card members. Some cards offer a lump sum of cash back after a certain spend within your first few months of owning your new card, while other card issuers offer an unlimited cash back match for your first year of spending.
- An equally important new cardmember perk is a low intro APR rate on balance transfers and/or purchases. A low or 0% intro APR period can help you avoid interest while you pay down big purchases or existing credit card debt.
- Convenience is a must for cash back rewards, so you'll want to be able to redeem your cash in a variety of convenient ways including statement credits, direct deposits or even being able to use your cash back directly while online shopping.
Gas prices are predicted to continue to rise and in a constantly shifting economy, taking the right steps to save money where it's possible is crucial. Take advantage of the additional gas card benefits and rewards to earn more money back on purchases.
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Original Source: Get Cash Back on Rising Gas Prices With a Gas Credit Card
