How to Earn Money for Gas Using Your Credit Card

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How To Earn Money For Gas By Using Your Credit Card

Increasing fuel prices have yet to put the brakes on the sale and use of gas-guzzling recreational vehicles, especially for true RV enthusiasts. According to the Recreational Vehicle Industry Association, RV shipments peaked at 370,000 units in 2004, the highest since 1978 and 15.4 percent higher than the 321,000 units sold the year before.

Earn Cash Back on Gasoline Purchases

Now that gas station credit cards are a major player in the plastic industry, paying for fuel has become more convenient. Three gas credit cards are available from Chevron (which also includes Texaco), and each can earn cash back on gasoline purchases: the basic, premium and business cards. Payments for all three types of card can be done by phone, mail or online.

Citibank recently offered its cardholders in the New York City area and Miami double American Airlines frequent-flier miles for gas purchases. Other cards, such as the Citi Dividend Platinum Select MasterCard and the Discover Platinum Gas Card let you earn a 5% rebate on gas purchases. Citi’s card also gives 5% back at drugstores and grocery stores.

Should you sign up for a gas card? One example, with Chase’s Marathon Platinum MasterCard, you get a liberal 10% rebate on all Marathon purchases, but only for the first 60 days that the account is open. Some other potential problems: issuers can change their terms and conditions with little notice. Also, not all gas stations qualify for the full rebate: you typically have to go to the standalone station, whose primary function is selling gas.

Gas Rebate Credit Cards

A gas rebate credit card is similar to other cash back rewards programs. A lot of credit card companies will offer gas rebates for particular brands, while some can only be used at specific locations (this is great if you only buy gas at one station). While most gas rebate cards will pay you back in the form of a credit to your account, some companies may offer gift certificates or other rewards.

Other ways to save at the pump:

Use the lowest grade gasoline recommended for your vehicle
Drive less aggressively
Keep your tires fully inflated and check the inflation every month
Drive at speeds below 60 mph
Avoid excessive idling
If your RV is equipped, use Overdrive gears and Cruise Control
Replace air filters frequently
Get routine checkups and oil changes regularly

Fifty percent of all credit card offers in 2003 had some type of reward element, according to direct-mail tracker Mintel’s Comperemedia: miles toward tickets, cash, discounts at retailers, some even help you save for college, just for using your card. Eighty percent of reward cards come with no annual fee. Reward cards, however, tend to carry a high Annual Percentage Rate.