How to choose a gas card

How to choose a gas card – Whether you want to choose the right gas card online or are offered a choice by your bank,its a good idea to do some ground work before you make a decision. Some of these gas cards are good for bad credit,to build credit or used for prepaid gift cards.These fuel cards should not only give you good deals on gas purchases and gas station products,but should also give good value for  grocery and store purchases.

 

How to choose a Gas card – contents

Decide how you want to use the card :

1.Gas card for Building credit

2.Gas card for  bad credit

3.Choose between a secured card and  a Gas card for bad credit

4.Gas card for Gifts

5.Gas saving tips for homes

Gas cards to build credit

 Lets be clear about a few things before getting on.The difference between gas cards for bad credit and gas cards to build credit is that,bad credit gas cards are also prepaid in nature.While many card issuers easily distribute prepaid cards with some offers gas offers linked to it,it wont do you any good if you are looking to build credit.
You may fall into either category,but keep in kind that prepaid cards use your own money,so they do not help to build credit.If you have never used credit before or have made some bad decisions that have in turn tanked your credit score,only you have the power to fix it.

Factors that help you chose gas cards to build credit

Just a few aspects of a card that you should look out for before zeroing in on a particular card that will help you lift your credit score,or maybe start you out strong from scratch.

Bureaus

This may seem foolish and obvious to bring up as the first point,but the it hasto be the most important reason for you to chose a gas card that reports to the credit bureaus atleast once in six months.Each bank offers atleast one credit card that can help you jumpstart your credit,by reporting to the three major bureaus Experian, Transunion and Equifax.

Perks

The all important difference between a prepaid gas card and a gas credit card.In general,gas prepaid cards almost never offer any freebies or rewards.Even though prepaid debit cards in general do not give perks other than the service of using thier money network to make payments, an occasional gas card could give you rebates on gas,discounts on station convenince items and stations services like oil changes and a free car wash.

Access

An often overlooked but important feature of a gas card is its ease of access over a wide network of gas stations.Most station based gas cards are often affiliated to a ring of native stations even though they have a big issuer.Access and refill points should be atleast every 5 miles.

Featured Card

How to choose a gas card

The First Premier Classic Mastercard remains one of our favorite card to build credit  for a few timeless reasons.Its extremely easy to sign up for,promptly reports to the three major credit bureaus and is an excellent tool to build credit.Now,before we go any further,what are the drawbacks of credit cards for bad/fair credit?Most noticeably are the high APR that is charged on it.One thing should be kept in mind that people with bad credit are considered high risk.

That is the reason why just a few banks offer cards for bad credit to begin with.I dont know if its fair to say that the banks take advantage of this fact,or it could also possibly be,the card issuer tries and collects as much of the principal amount spent by the high risk customer in the form of fees and interest charges in the likely possibility that the customer might default on payments.This could be the underlying reason why the purchase APR on this particular card is a mammoth 36%.

What else do you have to know about this card.Well, there is a $75  first year annual fee,and since they offer a credit limit of only $300, for the first year they subtract that annual fee from the credit limit,leaving you with a$225 limit for the first year.

So in-spite of the high APR and low credit limit,what makes this card so special? This card has the distinction of having the nature of a secured card and at the same time giving you all the benefits of a regular card that even sends your credit report to the bureaus.You get all this without having to leave a security deposit

 

 

Gas cards for people with bad credit

We have chosen 3 gas credit cards that offer a reasonable APR and give some great kickbacks as far as Gas goes.This list is especially altered for people with not so great credit.Note that none of these arePrepaid cards, as Prepaid cards being referred to as Credit Cards is a misnomer.This will help people who are in debt to get some good deals and discounts on Fuel. Spending and using these cards in a reasonable way might also add you some brownie points to your credit score.Before we head on to the list of gas cards,please skim through checklist first.

 

Gas cards for bad credit checklist

Here are a few things to look out for and pay attention to, before choosing  a gas cards for bad credit

1.Reporting

Probably the most important aspect of your gas card hunt would be too check and see if  the  bank/financial institution that issues the card, sends regular updates and reports about the activity on your credit card account.Since you have bad credit,it is absolutely necessary that all your good purchases and timely payments are on record, and is constantly being reported to the credit bureaus so that it has a positive impact on your credit score, and in the long run will improve it.

2.Gas Benefits

The second most important feature to look out for, is the discounts and benefits on gas that the card offers per gallon.With the price of gas almost hitting $4 in some states,its becoming expensive  to maintain more than one car.Even with just one vehicle per household, the gas bill per month can do with some reduction,so lets take as much advantage of that gas card as we can. Gas discounts per gallon range from 10c to 20c a gallon, but you’ll be surprised how much you actually save in a month.

3. Cashback/Gifts

An icing on the top of  having a cut on gas per gallon prices is the freebies and sweet candy that is thrown at you as a lure. Some card issuers offer gift certificates in the range of $50 -$150 that can be redeemed at a particular retail store or online shopping site. The most common form of lure that gas card issuers give you is cashback.

Its the simplest and the  easiest  to please the customer with ,and direct cashback offers literally translate into a cash discount,or  a reduction on the offered product. Since it’s a gas card, cashback are offered primarily on gasoline  and station based services like car washes and free oil changes etc .Other cash backs maybe on in station store purchases and convenience store items.

4.Fees

The first thing to look out for, which in my opinion should be one of the deciding factors in choosing your gas card is the intro APR. Needless to say you choose  one with a zero intro apr for the first 12 to 15 months.These zero intro APR cards are quite common and are offered by most banks.After the zero intro APR period is completed,an APR of 10%-20% is levied.Besides the intro APR,also read the fine print and pay attention to the after period APR,as this is after the “honeymoon phase” and will be an expense you will have to deal with for the rest of your card life.Now heres something to remember.

The way you use your card in the honeymoon phase or zero APR phase could affect your standard APR later on.The more you use your gas card and the faster you make payments towards it could influence your credit score and get you a lower APR.So more than just a zero APR phase,use your card to its maximum and of course, for those with bad credit, make sure that you are even more diligent with payments.This will go a long way and most definitely look good on your credit report.

5.Charges

All cards come with their share of charges associated with transactions and services.Some of the charges to look out for are first and foremost the annual charges.Most banks waive these charges for the first year,but some even continue this gesture every consecutive year,look out for those.Other charges that go without notice are for your rewards points.Some cards issuers charge a fee every time you redeem your rewards points.This can be subtle so make sure to check up on that before selecting your gas card,as you will be more than likely to redeem your rewards many times during your card life.

 

Discover Open Road Card

  • Get a $150 Restaurant.com Certificate gift  with first purchase
  • 0% intr. APR on balance transfers and  purchase for 12 months, after which the variable spurchase APR of 11.99% – 20.99%
  • 2% automatically at gas stations and restaurants all year long
  •  Up to 20% Cashback Bonus at popular online retailers when you shop through Discover.com
  • Discover is ranked #1 in customer loyalty–15 years in a row! (2011 Brand Keys Customer Loyalty Engagement Index report)
  • 24/7 access to a U.S.-based Account Manager within 60 seconds
  • Rewards with no annual fee, no rewards redemption fee, and no additional card fee

    Discover More

    How to choose a gas card

     

    • 0% intro APR on purchases and balance transfers for 15 months, then the variable standard purchase APR of 10.99% – 20.99%*
    • 5% Cashback Bonus® in categories that change like gas, restaurants, department stores and more. Limitations apply*
    • Up to 20% Cashback Bonus at popular retailers when you shop online through Discover.com
    • Discover is ranked #1 in customer loyalty–15 years in a row! (2011 Brand Keys Customer Loyalty Engagement Index report)
    • 24/7 access to a U.S.-based Account Manager within 60 seconds
    • $0 Fraud Liability plus mobile and email fraud alert options
    • Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
    • Discounts on Gas per gallon

    First Premier Classic

     

    • Checking account required to qualify
    • A credit card offer for those with less than perfect credit
    • Reports your credit history to the major Consumer Reporting Agencies
    • Apply for a credit card today – Get a response today
    • This credit card may be able to help rebuild your credit history if you make on-time minimum payments and maintain your balances under the credit limits with all your creditors.

    If there are other gas cards for people with bad credit please share them.

    Gas cards for bad credit or secured cards for bad credit?What will you choose?

    There are two killer ways to improve your credit score.For people with bad credit have a gas cards that does two things- gets you rebates on gas as well as helps with your credit rating.The other is having a secured card that works on a similar principal to the gas card.The important thing that both these types of cards do for you is that they report to credit bureaus on a regular basis.

  • The primary difference is that secured cards almost never give you additional benefits because they act more like a crutch for people with bad credit,whereas gas cards get you cashback,gifts and discounts on gas.However if your main intention is to fix or repair your credit more than anything else,then all you have to do is open an account or certificate deposit with the bank/institution with a certain amount of money,and that will hold as collateral against the line of credit that is offered to you.

 

  • How does paying back your balance efficiently help? In case of gas cards,you could be eligible for a lower APR, as well as a higher credit limit,and in the case of secured cards,they could convert your secured card to a regular unsecured card.

Gas cards for gifts

Gas cards for gifts are the ideal way to present a close friend or relative with one of the necesseties of life.As the price of crude oil spirals upwards, price of  US gasoline too has become extremely expensive.When you purchase a gas card with cash or debit/credit card you can choose the denomination.

This acts exactly like any other prepaid debit card and gives a benefit of between 5-10% per gallon when used.An important note to keep in mind is that,the gas issuing station should be in close proximity to the card user to whom its being gifted.Also,that gas card issuer should have a wide network of filling stations for easier and more convenient access.

Below is a chart of gas card issuers and the number of stations in their network.

 

So what are the two most important things that you can look for before buying a gift card.First,look out for the best discount benefit per gallon.this can range from 5% to 10%.Secondly get a gas card that has a broad inter state station network,so that it can be used for road trips or cross country trips too.

 

EXXON MOBIL gift card

Can be used at over 10,000 Exxon Mobil stations for snacks,beverages,car wash,repairs and convenience items.Available in denominations of $25,$50 and $100 for use.Get your Exxon Gas gift card here 

MURPHY’s gift card

How to choose a gas card

Murphy’s in association with Walmart offers a re-loadable prepaid gas gift card that can be used at 1000 locations in 21 states.It can also be used for food,drinks at all Murphy’s gas stations.Get your Murphy’s gas gift card here.

SHELL gift card

Can be purchased from Walgreens,Safeway and Shell locations for personal use or as a gift to others.The amount gets automatically deducted from the card balance,and can be available in denominations of $25,$50 and $100.This gift card can be even used to Shell shops to purchase automotive products and service.Get your Shell gas gift card here

MEIJER

Meijer gift card can be used at gas stations,stores or for online purchases of merchandise.As of now,its only available in a $25 card when used can help to get a 2% cashback.Get your Meijer gift card here

CHEVRON TEXACO

How to choose a gas card

Chevron Texaco gas gift cards can be used at over 10,000 gas stations of Chevron and Texaco and can be bought at denominations of $10.50 to $100.Its issued by SVM and cannot be redeemable for cash or credit.Get your Chevron gas gift card here

 

COSTCO

 

Costco Gas cards,also known as cash cards can be used for a variety of purchases,most notable superstore purchases and gas.Since they are also meant for grocery purchases,it can be bought from values of $50 to $1000.Card will be sent in 5 business days and balance can be accessed at costco.com

SUNOCO gas gift card

Can be used at Sunoco locations and stations.Available for denominations of 10,25,50,75,100.To check your card balance,simply by entering a 19 digit card number in the website

SPEEDWAY

How to choose a gas card

Speedway cards can be redeemed at 1350 speedway outlets and can be recharged at  any speedway locations.Available  from $5 to $100.The downside to this card is that the fuel card can only be used for fuel purchases and nothing else.Its ideal as a gift for young drivers or emergencies.Get the cards here

BP gas gift card

BP Gift cards are issued by SVM corp,and come in variations of $10.50 to $100.These can be used for food and car washes.These can also be redeemed inside convenient stores at the stations

 

Gas saving tips for homes

 Lets face it, the gas crisis, isn’t getting any sweeter.Even with the best gas cards available,and the best benefits they offer, the price of gas is only getting dearer.Here are a few things that i resorted too a few years back while trying to get my family gas bill under a set limit i prescribed for myself every month.Using these 2 gas saving tips for homes will reduce your bill immediately.

Your Car

Lets start with the main perpetrator.The smaller the car,the smaller the enginervolume, lesser gas ignited.Choosing an SUV,four wheel drive,minivan or truck are ridiculous options.Stick to the standard sedan design and youre good to go.If you can find one that is manual transmission would be even better as those burn far less gas than automatic transmission vehicles do.

Something that most of us do without realizing is pressing the pedal to the metal right after take off.In the lower gears,go slower, and accelerate freely only when you’re over 30. Pulling the windows up and using that as a practice always will ensure u dont get much drag by wind and improve gas efficiency even more.

 

Gas Cards

Get the biggest benefits,rewards and points.Anything will do to reduce the gallon price  and lower your monthly gas bill.Some cards offer you a reduction on the gallon price,wile others give you cash back bonuses and freebies.Some Gas cards that are offered by gas stations let you redeem your reward points by way of purchases at in station convenient stores.In order to qualify for gas cards that offer cashback of over 3%, you have to have an excellent credit score and record.

No comments yet.

Leave a Reply

Powered by WordPress. Designed by Woo Themes