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Best Credit Cards for Gas?

7 30 November 12, 2019 at 03:57 PM in Autos (4)
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Last Edited by DarlingDeals December 5, 2019 at 10:42 AM
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Hello!

What are your preferred travel rewards or cash-back cards to purchase gas. Gas isn't always a huge line item in a household's budget, but I'd love to know how you're maximizing the value of your fuel spending with credit cards.

UPDATE

A lot of great discussion about credit cards that offer valuable cash-back rewards at the pump. Including:

Amex Blue Preferred: 3% back back on gas
Costco Citi: 4% cash back on gas up to $7,000 annually
PenFed Credit Union Card: 5% cash back on gas

Among the top tips to save money at the gas pump: Purchase gift cards to pay for gas with a rewards credit card that offers 3-5% cash back for gift card purchases. Check out this Slickdeals article to learn how to stack additional savings onto your gift card purchases, as well as this gift card strategy to save money on everything, including gas.

We included the PenFed card in our recent round-up of the best credit cards for buying gas.
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Quote from DarlingDeals
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Hello!

What are your preferred travel rewards or cash-back cards to purchase gas. Gas isn't always a huge line item in a household's budget, but I'd love to know how you're maximizing the value of your fuel spending with credit cards.
Buy gas gift cards at grocery stores with a CC that gives you 3+% off on groceries. You get that and get the cash price at the pump.
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#3
Aside from the Freedom or IT card offering 5% on a rotation basis on gas, the Costco Citi card offers 4% all year around for the first $7,000 spent on gas.
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#4
Amex blue preferred. Only 3% on gas, but 6% on groceries. Use that at Hyvee and you get a ton off gas depending on how you shop.
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I use a penfed card [penfed.org] that gives 5% on gas, 3% on groceries. It gives that in points not $$, you can redeem for travel, GC's etc. You don't need to be a military member to get the card; IIRC I donated some $$ or opened a MM account to be eligible for the card, I forget which.

I've redeemed it for travel before and it was 1:1 (1 pt = 1 penny, effective return = 5%) however for GC's it seems it's variable. For example WM, Amazon and Visa GC right now "on sale" 11760 pts for $100 GC (effective return 4.25%) but a $100 Panera GC (amongst many others) is 10580 for $100 (effective return 4.72%).

I used to use it quite a bit in conjunction with supermarket gas rewards and GC deals. Basically, supermarket has a program where you earn points that are redeemable for discounts off gas. They also tend to have offers where you get multiples of points (I think ours topped out at 5x or 7x IIRC) for purchasing certain GC's. The best deals were when they gave max multiples on Visa GC's - use your favorite % back CC, get the 5x or 7x pts on buying a Visa GC, cash out the Visa GC (I used to load Bluebird @ WM) and accumulate points. I spent thousands and thousands of $$ this way a few years ago and I estimate in one summer alone this method saved us $1500 in gas, not even including the 3% back we were getting from the CC. That method was kneecapped by Amex clamping down on Visa GC "cashouts" as well as the supermarket putting further limits on points redemption (basically halving it). Word is some retailers now won't even sell you cash GC's on credit (obviously because they're paying the merchant fees for CC processing).
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Last edited by Dr. J November 15, 2019 at 10:01 AM.
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I think that if you buy one brand then that card will usually give you the best deal.
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#7
UMB Simply Rewards earns 3% back. It is limited to residents of AZ, CO, IL, KS, MO, NE, OK, TX. There are some banks in other states that offer their version. Check this link for details: https://www.doctorofcredit.com/um...ent-330672
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#8
You can get a Chase ink card and get 5% cashback on gift cards from office supply stores .
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Quote from Zodiac
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You can get a Chase ink card and get 5% cashback on gift cards from office supply stores .
Then sell those for gas?
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Quote from dapoopta
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Then sell those for gas?
no, buy gas GC @ staples, reap 5%. You could also do the same for supermarkets (buy gas GC).
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Quote from Dr. J
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I use a penfed card [penfed.org] that gives 5% on gas, 3% on groceries. It gives that in points not $$, you can redeem for travel, GC's etc. You don't need to be a military member to get the card; IIRC I donated some $$ or opened a MM account to be eligible for the card, I forget which.

I've redeemed it for travel before and it was 1:1 (1 pt = 1 penny, effective return = 5%) however for GC's it seems it's variable. For example WM, Amazon and Visa GC right now "on sale" 11760 pts for $100 GC (effective return 4.25%) but a $100 Panera GC (amongst many others) is 10580 for $100 (effective return 4.72%).

I used to use it quite a bit in conjunction with supermarket gas rewards and GC deals. Basically, supermarket has a program where you earn points that are redeemable for discounts off gas. They also tend to have offers where you get multiples of points (I think ours topped out at 5x or 7x IIRC) for purchasing certain GC's. The best deals were when they gave max multiples on Visa GC's - use your favorite % back CC, get the 5x or 7x pts on buying a Visa GC, cash out the Visa GC (I used to load Bluebird @ WM) and accumulate points. I spent thousands and thousands of $$ this way a few years ago and I estimate in one summer alone this method saved us $1500 in gas, not even including the 3% back we were getting from the CC. That method was kneecapped by Amex clamping down on Visa GC "cashouts" as well as the supermarket putting further limits on points redemption (basically halving it). Word is some retailers now won't even sell you cash GC's on credit (obviously because they're paying the merchant fees for CC processing).
PenFed had a GREEN Cash Rewards 5% cash-back card. My wife and I are grandfathered in.

We got it in like 2014, they since discontinued offering it, but they sent us new cards just last month.

That's by far the best gas cash back card I've come across.

Although it's funny cause we went from driving two gas guzzling 16 mpg BMWs that used Premium gas and we saved a ton with that PenFed cash back card but now we have a Camry Hybrid and a Tesla so we barely even buy gas anymore.
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