With gas prices higher than they’ve been in three years, commuting is more expensive than ever. As gas prices rise, so do commuters’ frustrations—every visit to the gas station met by an exasperated eye roll at the gas prices and a reluctant surrender of your money.
Price per gallon continues to creep higher and higher, with the average price for regular-grade gasoline hitting $3.00 in the United States mid May. According to Spokesman, gas prices have climbed 41 cents in the last three months alone. Trilby Lundberg, gas industry expert, claims the rising numbers are due to an increase in crude oil prices and the implementation of “summer-grade gasoline,” which is meant to reduce smog and is, therefore, more expensive.
Unfortunately, gas prices are rising just in time for long-awaited summer vacations and activities. You’ve been looking forward to this season, and you don’t want to be forced to spend your entire vacation budget on gas money. Not to mention, you have other monetary responsibilities, whether it be monthly bills, saving for a house, or other home investments.
Thankfully, we have compiled a list of credit cards you can use for your gas-guzzling commute. If you’re going to spend significant money on gas, you might as well earn points and rewards to put towards your commute, car repairs, or other expenses. Gas credit cards allow you to earn money by spending money.
Before you continue, here is a credit card tip to consider: if you are able to, always pay your credit card balance in full at the end of every month. If this isn’t something you think you’ll be able to do, select a credit card that has a low annual percentage rate (APR). Paying off your balance every month before the due date ensures you don’t pay interest on your purchases. And if you plan on leaving a balance on your credit card, you are going to want a low APR.
Here is a breakdown of the top three credit cards you can use for your commute:
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The Chase Freedom card is a credit card you can use for a lot more than just gas. It has rotating bonus categories each quarter throughout the year that focus on rewards in various categories, such as gas and everyday travel, restaurant and dining, grocery store purchases, etc. When the bonus category is active, you receive 5% cash back on up to $1,500. Although this may be a downside if you only want the gas rewards, it can be beneficial if you would enjoy different rewards throughout the year. However, note that you have to activate the bonus categories each quarter and forgetting to do so will forfeit your rewards.
Because there are rotating bonus categories, this type of card is better if you are more of a seasonal driver since you can’t have unlimited cash back on gas. If you constantly cap out your spending during the gas bonus quarter, you will earn 1% cash back in a year, which is the average among other gas reward credit cards.
Chase Freedom also offers a $150 sign-up bonus if you spend $500 within the first three months of opening your account. This is a decent amount and you don’t have to spend as much money to receive the bonus as other credit cards require. Chase Freedom has a ; however, there is an period.
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The Blue Cash Preferred card from American Express is a reasonable choice for a gas credit card, offering 3% cash back year round at U.S. gas stations. Having no limit enables you to have ample savings on your everyday travels without difficulty. Blue Cash Preferred also offers 6% cash back at U.S. supermarkets up to $6,000 every year..
Blue Cash Preferred does have an annual fee of , but there is a $250 statement credit as a welcome offer if you spend $1,000 within the first 3 months of opening your account. You also earn 1% cash back on all other purchases. The APR is even with other credit cards ranging from .
If you are considering this credit card but don’t want to pay the annual fee, there is a Blue Cash Everyday Card from American Express (See ). This card has no annual fee but lower rewards ($150 welcome offer, 3% cash back at U.S. supermarkets on up to $6,000 per year, 2% cash back at U.S. gas stations, and 1% on all other purchases). For rates and fees of the Blue Cash Preferred Card from American Express, please click here:
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These are just some credit cards that allow you to earn savings and rewards for your commute as well as a variety of other purchases. Because there are specialized credit cards for numerous purchase categories, using different credit cards allows you to take advantage of all the rewards they have to offer. For example, if you own a business and are trying to increase your business growth, consider looking into a business credit card. People often forget about the rewards they can accumulate by using a specific credit card for their various purchase types. Using credit cards for purchases such as gas, business, travel, and many others will allow you to earn significant rewards. Why not make money when you spend money?
If you want to make sure your credit can handle a new credit card, you can check your three credit reports for free once a year. To track your credit more regularly, Credit.com’s free Credit Report Card is an easy-to-understand breakdown of your credit report information that uses letter grades—plus you get two free credit scores updated each month.
[UPDATE: Offer(s) here is no longer available through our site. Please visit our credit card marketplace for current offers. DISCLOSURE: Cards from our partners are mentioned here.]
At publishing time, the Chase Freedom, the Blue Cash Preferred from American Express and the Wells Fargo Propel American Express card are offered through Credit.com product pages, and Credit.com is compensated if our users apply for and ultimately sign up for any of these cards. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved, or otherwise endorsed by the issuer(s).
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