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| Gas Rebate Cards |
Gas Rebate Cards allow cardholders to receive a certain percentage of the amount they spend on gas each month back in the form of a credit applied to their bill. It works similarly to a cashback rebate credit card with one notable exception: the gas rebate is often applied each month, whereas most cashback cards send out rebate checks once a year. This makes the savings easier to see for most consumers.
The rebate percentage a card member earns varies by offer from 1 – 6 percent, but the average is 3 percent. Many gas credit cards offer a higher introductory rate (such as 6%) which reduces over time to a lower amount. The best ones also offer features such as online account access and rebates for general purchases.
Most major gas companies offer brand-specific gas rebate cards, which may only be used at their locations. This is fine for customers who frequent a particular gas company often, but can be inconvenient for those who shop around for the best gas prices, and can be downright harrowing for someone searching for the right gas station on an empty tank. Recently, however, many general purpose credit cards began offering gas rebate rewards that can be accumulated with any gas purchase, from any company. Most of these cards offer a gas rebate percentage, as well as a lower rebate percentage for general purchases. For example, some gas reward cards offer a 3% rebate on any gas purchases, and 1-2% back on any other purchases made with that card. These types of credit cards are often more attractive to the consumer trying to cut down on the number of credit card accounts.
The rebates are usually issued at the end of each billing cycle in the form of a credit to the cardholder’s account. Sometimes, the rebate is delivered as a type of gift card for a specific vendor, gasoline or otherwise. The applicant should research the type of rebate given before applying, to make sure the rebate is appropriate to his or her needs.
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