MyCardBlog

There are many ways to save on gas. I have many posts on how to save gas: 5 Top-Rated Gas Rebate Cards and How to Save Money on Gas. Choose a good gas credit card is an easy job to save money on gas. I strongly suggest the Discover Open Road Card for our drivers. I have been using this credit card for more than 1 year and liked it very much.

Shell Oil Products just launched the new Shell Saver Card which is directly linked to your checking or savings account without credit payment. This new Shell Saver Card is a debit card like payment option at the Shell gas pumps.

According to the press release, the Shell is the first gasoline retailer to make an electronic check payment method available to consumers nationally.

The Shell Saver Card is a non-credit payment product issued to consumers directly from Shell, has no application or annual fees and offers a promotional savings of 5 cents per gallon on Shell gasoline or diesel purchases until June 1, 2009 and 2 cents per gallon thereafter. Because the card is linked to a checking account, it offers the added advantage of no impact on consumer credit scores, especially important to consumers who wish to avoid using credit. Consumers who apply for the Shell Saver Card must have an active checking account in good standing to qualify.

Besides the ability to buy gasoline at the pumps, the Shell Saver card can also be used to by any products at shell stations except lottery tickets. The 5 cents discount applies only to gasoline and diesel purchases. More information can be found at www.shellsavercard.com.

Choose a right gas rewards card at the pump can save a lot of money each year. According to latest study, if you choose a rewards credit card at the pump instead of cash, you can save at least $100 or more each year. If you are driving a SUV or truck, then a gas rewards credit card is a must in your wallet. Anyway, the right gas rewards card eases your pain at the pump.

I have reviewed and summarized the best gas rewards cards in my previous posts: 5 Top Rated Gas Rebate Cards and Best Gas Cards Roundup. This post is kind of reminder for many mycardblog.com readers. Gas rewards cards are similar to cash back rewards cards with some enhancements directed at those looking to save money on gas. Most gas rewards cards offer a high rate of cash back at gas stations and relatively low rate of cash back on other purchases. In most cases, you have to carry one general rewards card and one gas rewards card in your wallet to maximum your rewards. Following are some gas rewards cards that I high recommended:

1. TrueEarnings Business Card from American Express and Costco: This card offers 5% cash back on gasoline purchases. (Note: Exclude gas purchased at warehouse clubs other than Costco, superstores or supermarkets. For example, if you fill your tank at Costco gas stations, you can’t get full 5% cash back. However, if you purchase gas at BP, Marathon, or Shell gas stations, you can get 5% cash back. ) This is a business card (Individuals can still apply for a business card!). The non-business version only offers 3% cash back which is just as good as the Chase Freedom Card. That’s why I recommend the business version. Besides the cash back from the gas stations, you can also get 3% cash back at restaurants and 2% cash back for traveling. Since the American Express SimplyCash card changed the cash back rate on gas from 5% to 3%, this card is the best gas rewards card so far.

2. Dicover Open Road Card: If you ask me which credit card is the best from Discover, I would say the Discover Open Road. Although the Discover More is a good credit card, the rewards categories from which you can get 5% cash back change every quarter. Some might can’t catch it. The only drawback of this card is you can only get 5% from the first $100 spent on gas and auto maintenance purchases every month.

3. Chase BP Visa Rewards Card: If you have a BP location near your home or you always purchase gas at BP gas stations, you should consider this card. You can get 10% cash back for any gasoline purchases made at BP gas stations in the first 2 months. And after that, you can continue to get 5% cash back at any BP gas station.

The gas companies themselves would like to partake in the money that credit cards generate, so many have a branded credit card issued by credit card companies. You can also look at the Shell Platinum MasterCard from Citi if you visit Shell gas stations a lot.

4. National City Everyday Rewards Visa Card: This card only offers 4% cash back on gasoline purchases. But you can also get 2% cash back at restaurants. A brief review can be found here.

5. Blue Cash from American Express: You will find out that this card is always a top rated cash back credit card at every credit card website. You will earn full 5% on gas, grocery and drugstore purchases after you spend $6,500 in the year. If you are a big spender, this card is good for you. However, if you can’t spend $6,500 in a year, please forget about it.

Whenever you  want to choose a gas rewards credit card, you should carefully compare each credit card first. You should also be aware that most credit card have a limit of $75 at the pump.

My post “How to Save Money on Gas?” turned out to be a very popular post here at MyCardBlog. “Best Gas Cards Roundup” and “5 Top Rated Gas Rebate Cards” are also very popular in the past one month. I believe this phenomenon is due to the sky-high gasoline prices. However, there are more frustrating times for SUV, pickup truck, and motor home owner: With the climbing gas prices, they have to pay more money at the pump. At the same time, the credit card quirk at the pump makes it difficult for drivers to fill up their tanks completely.

Many gas stations have a $75 limit on Visa or MasterCard transactions at the pump! Of course, Discover card has a $50 limit at many gas stations.  American Express has different policies for corporate card holders and consumer card holders at the pump. This policy seems stupid to me. If we assume a SUV has a 25-gallon tank, the driver might need $100 limit at the pump to fill up the tank completely. The driver has to do another transaction to get his tank full.

The reason why the merchants set a $75 limit at the pump is to reduce the risk of fraud use of credit cards. And Visa/MasterCard typically only reimburse merchants only up to $75 per transaction at the pump if there is a charge back or a fraudulent card is used.

What can you do about this?

You have two options:

1. Start a second transaction. The limit system is designed to cut fraudulent charges, but it’s a ham-fisted tool. The limit is per transaction. You can just start pumping again in a new transaction. Starting a new transaction is an annoyance for customers, but it can become a burden for retailers that pay a per-transaction fee.

2.  Go into the store and pay to a cashier, where the limit is likely higher because it will be a face-to-face transaction.

If you are a SUV, pickup truck and motor home driver, it’s quite likely that you have to swipe your card twice at the pump to finish filling.

With gas prices nearing $4 per gallon, saving money on gas becomes a big concern in our daily life. Hereby I summarize some tips on how to save money on gas.

The top 1 tip is to find out a great gas-rebate credit card for you. Today most of gas-rebate credit cards offer 5% or even more cash back on gasoline purchase. For example, Discover Open Road CardSimplyCash Card offer 5% cash back on gas and auto maintenance purchases; offers 5% cash back on gas, wireless and office supplies purchases; BP visa card offers up to 10% cash back at BP pumps. How to get a great gas-rebate card for you really depends on your credit habit and driving habit. You can check out “Best Gas Card Roundup” and “5 Top Rated Gas Rebate Cards” to get more information.

Find the cheapest gas near you. You can always visit www.gasnearu.com and www.gasbuddy.com to find out which gas station offers the cheapest gas. I’m sure you can save a lot in this way.

Use the recommended gas for your car. Some people may think that higher grade gas might generate better MPG and can save them decent amount of money. Actually, there is no reason to fuel your tank with higher grade gas than what is indicated in the owner’s manual.

Replace a dirty air filter frequently. This is a well-known trick to increase your MPG. According to the Federal Trade Commission, you can always increase your MPG up to 10% by using a new air filter.

Watch out your tires! You should always inflate your tires at a proper psi. And change the tire pressures according to weather changes. Another trick is to make sure your tires are well balanced and rotated.

Use the proper motor oil. I believe that choosing a proper grade of motor oil will help you save gas on the road.

Driving smartly on the road. You should always know that a good driving habit can save you tons of gas in your life! In order to save gas on the road, you should avoid jackrabbit start, properly control your car’s speed, use cruise control on the highway and remove unnecessary weight from your car.

Buy a gas-efficient car. Yes, overall, I think this is the best way to save money on gas only if you need a card. There are many hybrid cars on the market to choose from.

If you choose a right plastic and put it in your wallet, you might save hundreds of dollars a years at the pump. Following are my top-rated gas rebate cards.

Do you want to save 20 cents or 40 cents per gallon at the pump (Yes, current gas price is $4!)? Do you want to enjoy rewards other than at the pump?

Some gas-rebate cards can help you save money at everywhere. If you are still doubting the power of cash rewards that gas-rebate cards can bring to you, we can do the simple math. I assume you are driving a 20-mpg car with annual mileage at 15,000 and the gas price is fixed at $4/gallon. A 5% gas rewards card can save you $150 a year. If you are driving a SUV, truck or other cars, then a right gas-rebate card can save you even more money. Of course, the prerequisite is you are not carrying balance on your credit cards. If you carry balance every month, you top choices would be those with low interest rates.

How to pick a gas rebate card?

I think you should consider you driving habits and credit habits before you pull the trigger. If you drive the same route daily or weekly and fill your tank at the same pump, you can choose a gas store card issued by gasoline company and a credit card company. If you want to carry balance and pay off part of your monthly bills, you should consider a card with low interest rate as well as gas rewards. You might also think about how you like the cash rewards paid to you. Some rewards are credited to your account monthly (AMEX SimplyCash Card). And some rewards are issued to you at the end of the year. Following are some cards for your reference:

1. Ameircan Express SimplyCash Card: This card definitely should be on the top of this ranking although is a business card. (For tips on how to apply for a business card without a business, you can read this post.) Because it also gives you 5% cash back at wireless services and office supplies. You can get 5% cash back at pumps without limit! The cash rewards will be credited to your monthly statement (nice!). Another feature I want to point out here is this card is a business card and the usage of this card will not appear on your personal credit report. NO matter how much you spend on this card, it just won’t affect your credit score.

2. Discover Open Road Card: This card offers 5% cash back on gas and auto-maintenance purchases. This card is especially designed to drivers who want to save money on auto maintenance by using a credit card. The trick of this card is you can only get 5% from the first $100 spent on gas and auto maintenance purchases every month. However, Discover offers great rewards program. If you choose to redeem you cash as a gift card, your rewards might be doubled! Yes, this is why I like Discover card! If you like online shopping, you might also take advantage of the ShopDiscover program.

3. TrueEarnings Business Card from American Express and Costco: This card offers 5% cash back on gasoline purchases. (Note: Exclude gas purchased at warehouse clubs other than Costco, superstores or supermarkets. For example, if you fill your tank at Wal-Mart gas stations, you can’t get 5% cash back. But you can get 5% cash back at BP or Shell gas stations.) You can get 3% cash back at restaurants and 2% cash back for traveling. You can get 1% cash back for everything else. If you‘re a Costco member, you might try this card. This card has non-business version which only offers 3% cash back on gasoline purchases.

Start saving at the pumps now!

Generally there are 5 types of credit cards in the market. Find the best card for your lifestyle from secured to low-interest to reward to student and to business.

Secured Credit Cards

Best for: Someone with no credit history or have ruined their credit profiles.

Pros: A secured card is report to the three credit bureaus, so using one/two responsibly can be a smart way to establish or repair your credit profile. (Tip: put in large amount of deposit and use as little as 50% of that credit line.)

Cons: The secured part means you put down a deposit, usually between $300 and $2500, with your application. Many secured cards have all kinds of fees (including annual fees). Read the fine print very carefully.

Zero or Low Interest Rate Cards

Best for: Someone is short of cash and planned to pay down credit debit quickly.

Pros: The lower rate can save you a bundle on your current interest costs. Usually you can find the low rates from balance transfer cards. If you are planning to carry balance all the time, you’d better check out some credit unions.

Cons: Introductory balance transfer rate usually lasts for only 6 to 12 months, and then reverts to something higher, typically around 13 percent to 20 percent. Only one mistake will make your rate up to normal immediately. You’d better manage your balance transfer cards wisely.

Rewards Credit Cards

Best for: People who make the majority of their purchases on a credit card and pay off the balance each month.

Pros: These cards usually offer cash back, miles or rewards points toward purchasing select merchandises. Some rewards cards, for example, currently offer as high as 5 percent cash back on select purchases with no annual fee. (Blue Cash from American Express and Citi CashReturns Card)

Cons: As stated in pros, the rewards are always limited toward purchases on certain merchandises. (Tip: use rewards card in a combinational way is the best approach to maximum your rewards.)

College Student Cards

Best for: Obviously, College students.

Pros: These cards are targeted to college students who want to manage their spending responsively. No strict credit rating is required to get approved for college students. You’re not supposed to report annual income. Some cards are even offering great cash back and rewards. (Citi mtvU Card)

Cons: Some credit cards issuers charge higher interest rate for college student cards. (Typically Citi Bank does so.) If you fail to manage your credit cards, you are in a big trouble.

Business Cards

Best for: Small business owners and anyone willing to take advantage of the “hidden report” (AOR planner’s favorite.).

Pros: Small business cards often offer better rewards programs and have higher cash back rates. Some cards may even have no pre-set credit limit. These cards also offer better introductory rates. You can always find great sign-up bonus from business cards. (see this post)

Cons: no. （It’s said that the famous Financial Review from American Express is caused by business cards. If you have a business card for personal use, you are quite likely to get financial review from American Express.

(This post is for those new to credit cards.)

Considering the oil prices are still rocketing high, it’s necessary to get a nice gas card to save more on gasoline. (The national gas temperature map can be found here.) A high-rewarding gas card can save you at least average $100 per year on gas purchases for an American Family. Here are some recommendations for your reference. All of them are annual fee-free.

American Express SimplyCash^SM Business Card (★★★★★) You can absolutely get 5% (3% NOW) cash back at all of the gas pumps without any limit. The cash back will be credited to your account every month. You don’t have to wait until you get enough rewards amount like other cards. Plus you can get 5% cash back at office supplies and wireless services. This is a business card. (Want to know how to apply for a business card? Check it out here.) The usage of this card will not report on your personal credit report.

Discover® Open Road^SM Card (★★★★★) You can get 5% cash back at all of the gas stations with your first $100 every month. If you spend $150 every month on gasoline, you can get 5% cash back on the first $100 and 0.5% from the remaining $50. If your monthly gasoline consumption is less than $100, this would be a nice card for you. You can also get 5% cash back for changing engine oils, car washing services and other auto maintenance. That’s why this card is high recommended.

Chase BP Visa® Rewards Card (★★★★☆) You can get 10% cash back for any gasoline purchases made at BP gas stations in the first 2 months. And after that, you can continue to get 5% cash back at any BP gas station. If there are many BP gas stations in your area, this is a nice card for you. Another reason why I recommend this card is you can easily get this card from Chase. The drawback is you can only get 5% cash back at BP gas stations.

TrueEarnings® Business card from Costco and American Express (★★★★☆) You can get 5% for purchases of automobile gas (effective December 01, 2007, any individual Purchase transaction in excess of 75 gallons or equivalent dollar value will not be deemed to be a Purchase of automobile gasoline) at Costco Gasoline and domestic stand-alone gas stations, excluding gas purchased at warehouse clubs other than Costco, superstores or supermarkets. For example, if you fill your tank at Wal-Mart gas stations, you can’t get 5% cash back. But you can get 5% cash back at BP or Shell gas stations. You can get 3% cash back at restaurants and 2% cash back for traveling.

Chase PerfectCard™ MasterCard® (★★★★☆) You can get 6% cash back on gasoline purchases for the first 90 days. After that you can only get 3% cash back.

Of course, there are many other store branded gas cards like CITGO, ExxonMobil and Phillips66 card from many credit card issuers. You can find out more at their websites.

Recently a lot of readers asked a lot about the best combination of credit cards to maximum the return for daily use. OK, hereby I list some great credit cards:

Gas: Discover Open Road (Student Version is also available), SimplyCash Business Card. Both of them will give you 5% cash back at gas stations. The Open Road can also give you 5% cash back for auto maintenance.

Others you may consider: BP Visa Rewards Card, Citi Driver’s Edge Options Platinum Card.

Travel: Starwood Preferred Guest Card from American Express. Considering the famous Starwood Preferred Guest Program, this card is truly unbeatable. Starpoints can be easily transferred to other points. It’s also offering 10,000 bonus points after first purchase. Business version is available (why use business card? see this post). Citi PremierPass Card—You can match your fly points as thankyou points if you use it a lot!

Cash Back: Citi CashReturns Card. You can get 5% cashback on everything in first 3 months (Right now, Citi offers only 1% cash back!). What can I say? Someone even tried to apply for second one after 3 months. But he failed. It seems their policy doesn’t allow you to have 2 CashReturns cards. You can save a lot, if you use credit card to pay your tuitions, rents, or other fees. For daily use, it will not give you much cash back. But you can consider Chase Freedom Card which will give you 3% cash back on 3 categories automatically every month. Right now, they are offering $50 bonus. And another good news is Chase is trying to promote Chase Freedom and make it as the best popular credit card in US. It’s easy to get!

Student Card: Citi mtvU Card—You can get 5 thankyou points at restaurants, book and music stores (including Amazon.Com). Citi Dividend Platinum Select Card for College Students—Easiest student card to get? It’s quite possible. NO credit history is OK. Discover Student Card—NO credit history? It’s OK.

Business Card: Citi Business Card with ThankYou Network—10,000 thankyou points! Believe me, it’s the easiest business card to get.

You can also check out the following posts: The 15 Most Rewarding Credit Cards, What’s In The Experts’ Wallet?