The Best Gas Rewards Credit Cards of 2012

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Spending money on gasoline is an everyday expense that most Americans simply cannot avoid.  Whether you need to drive to work everyday or simply use your automobile to run errands, the gasoline bills are going to pile up.  With gas hovering around $4 a gallon, the cost of filling up the tank seems to be increasing each and every year.  One of the ways that this expense can be brought down is by using a gas rewards credit card.

Many gas rewards credit cards offer more than just the standard 1% cash back on purchases and if you look hard enough, you can find a few that go above and beyond a normal rewards program.    We’ve compiled a list of the best gas rewards credit cards available to consumers today and have also added a few words on why this card is an excellent choice.  Not all cards offer the same rewards and benefits so please read carefully.  If you have a card you love, let us know and we’ll see if it deserves a spot on our list.

PT’s Pick for the Best Gas Rewards Credit Card

Chase Freedom® Visa – $100 Bonus Cash Back- The Chase Freedom Visa – $100 Bonus Cash Back is our favorite gas rewards credit card because it excels in two key areas.  First, all cardholders are eligible to receive $100 cash back after spending $500 in the first three months.  That $100 bonus is the largest offered by a base credit card today and it’s pretty simple to obtain.

Next up for the Chase Freedom Visa – $100 Bonus Cash Back is it’s rewards program, offering cardmembers 5% cash back on select categories (which includes gasoline) throughout the year and 1% cash back on all other purchases.  Cash back never expires so long as your account remains in good standing with Chase.  The purchase APR is 12.99% – 22.99% variable after a 0% intro APR for 15 months, and last but not least, the Chase Freedom Visa – $100 Bonus Cash Back has no annual fee.

PenFed VISA Platinum Cashback Rewards Card – Making our list with the best gas rewards program, the PenFed VISA Platinum Cashback Rewards Card offers cardmembers a guaranteed 5% cash back on all gas purchases every day of every year, with no cap to the amount of rewards that can be earned.  1% cash back is earned on all other purchases and this card has no annual fee to own.  However, if you do apply, you must be a member of the PenFed Credit Union, which can be accomplished by making a small one time donation of $15 or $20.

TrueEarnings® Card from Costco and American Express – If you have excellent credit and like to shop at Costco, the TrueEarnings Card from Costco and American Express is perfect for you.  3% cash back is earned on all gasoline purchases, 2% cash back at restaurants and on travel with 1% cash back earned on everything else, including Costco.  Unfortunately, there is a limit to the amount of cash that can be earned at the 3% level ($90) at which point you’ll earn 1% cash back.  The TrueEarnings Card from Costco and American Express has no annual fee as long as you pay your Costco membership fee.

Citi® Dividend Platinum Select® Visa® Card – The Citi Dividend Platinum Select Visa Card includes a $100 cash back bonus after signing up and making $500 in purchases during the first three months.   Then, all cardholders will be provided 5% cash back on rotating categories through the year and 1% cash back on all other purchases.  Additional cash back can be obtained when shopping through the Citi Bonus Cash Center, and the Citi Dividend Platinum Select Visa Card has no annual fee.

Blue Cash Everyday℠ Card from American Express- Perhaps the best overall card on our list, the Blue Cash Everyday from American Express rewards cardholders with 3% cash back at supermarkets, 2% cash back on gas and at department stores and 1% cash back on everything else. You can also earn a $100 cash back bonus after spending $1,000 on purchases in the first 3 months. There is no annual fee to own the Blue Cash Everyday from American Express and it includes all of the perks you would expect from American Express. On top of it all, you get a $25 Referral Bonus for each friend or family member who is approved for the Card.

Discover® More® Card – The Discover More Card is the face of the Discover brand, offering consumers 5% cash back on select purchases every month and up to 1% cash back on all other purchases.  This card also has the best introductory offer you’ll find on our list, providing a 0% intro APR on purchases and balance transfers for 15 months.  The standard APR once the intro rate has expired is 10.99% – 20.99%* variable and the Discover More Card does not have an annual fee.

Ink Cash℠ Business – Even though the Ink Cash Business card only caters to business owners, it has the potential to save thousands a year.  This card now offers $250 cash back after spending just $5,000 in the first three months, $100 of which you will receive after the first purchase.  5% cash back is given for office supply and cable purchases (up to $25,000 spent annually) and 2% cash back is awarded on all gas dining purchases (again, up to $25,000 spent annually).  All other purchases receive 1% cash back and the Ink Cash Business Card has no annual fee.

Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.

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