How to Compare Gas Station Credit Cards

Gas station credit cards help users save at the pump.

Gas station credit cards can be evaluated on a number of criteria including interest rate, rewards or bonus points and ease of use.

Cost

To stay competitive, many gas station credit cards are dropping the annual fee that used to be standard in this category of charge cards. Still, interest rates on gas station credit cards are higher than major credit cards, ranging from 10 percent to 21.5 percent. This cost is only effective if the user does not pay off the balance each month.

Convenience

Cards that have a Visa or Mastercard logo are accepted in most locations. Some gas station credit cards, however, have a more limited use and are only compatible with specific gas station brands and the affiliate stations of that company. BP gas station credit cards, for example, are also accepted at Amoco gas stations.

Perks

The most basic and common perk for using gas station credit cards is getting discounted prices on gas at the pump. Some cards instead give cash-back for gas purchases and purchases from partner companies. Other perks, such as travel and dining discounts and specials, are common.

References

• United States Department of Energy: Gasoline and Diesel Fuel Update
• Credit Cards: Compare Gas Credit Cards