Gas Credit Cards Frequently Asked Questions
How do I apply for a card?
Applying for a gas credit card is easy. You can compare the various options for these cards over the internet and once you find one that suits your needs you can submit an application online or print out the application and mail it in.
Is it safe to apply online?
Yes. Most credit card providers use Secure Sockets Layer ("SSL") on the application page to enable secure transmissions. SSL encrypts, or scrambles your application field data before they leave your computer and then unscrambles them at the receiving end - our corporate Internet server. The data once sent is held on a secure, protected server that is constantly monitored for breaches in security.
Why do I need to provide my Social Security number?
Your Social Security number must be provided so that the lender could assess your credit history and determine your suitability for a credit card. The information is kept private and confidential.
Why do I need to disclose my income?
This must be provided in accordance with Federal regulations which require that your income be assessed to determine your ability to make payments in accordance to the terms of the credit card account. Not providing your income may result in a refusal of credit extended.
Will the credit history of authorized users be checked as well?
No. Only your credit as the primary account holder will be checked. There is no need to check the credit history of authorized users but take note that as the primary card holder you will be held liable for all charges to the account.
What will my credit limit be?
The details of the report and your yearly income will determine what your credit limit will be. You will see what your credit limit is on the welcome package and on your monthly statements.
Do I have to answer all the questions presented on the application?
In order to increase your chances of getting fast approval for the credit card you should fill out all the fields on the application. This makes it easier for the lender to process your application.
How will I be notified if my application is approved?
In some cases you will receive an immediate response if you submit your application online. If the lender needs to further review your information they will notify you of their decision within 30 days after the application has been submitted.
How can I check the status of my submitted application if I do not hear from the lender?
Check the "Contact Us" menu on the gas credit card provider's site for details on how to get in touch with the lender. The application might take up to 30 days to process but you can always call them up to see if they need more information to process the application.
Where will be card be accepted?
Your gas station credit card can be used at most gas stations (depending on whether you chose general or specific gas credit cards) to earn rewards and anywhere that Visa, MasterCard, Discover, etc are accepted.
Is there an extra fee for ordering extra cards on my account?
If you are ordering extra cards for family, friends or business associates there is usually no extra costs for additional cards. Call up the customer service department of your credit card provider to find out more.
Can I use my gas credit card to get extra cash?
Yes, most credit card providers allow cash advances through ATM withdrawals and checks. Take note that there are usually cash advance fees applied and the advance is subject to higher interest rates than your regular purchases.
What are the other fees?
Gas credit cards are subject to the same terms as regular credit cards. This means that there might be annual fees, late payment fees, over the limit fees and other charges. You will also have to pay interest on your purchase if you do not pay off your balance every month that you use the card. You should check the terms and conditions of the card before you sign up.
How do I earn rewards?
Gas credit cards provide an opportunity for card holders to save money on the cost of fuel. They can also earn cash back bonuses on regular purchases. The savings on fuel purchases more than likely will be higher than those for non-gas purchases but this all depends on the type of card that you apply for and the provider. The lender will calculate your earnings with a predefined formula (usually a percentage that they disclose) and credit the earnings to your account at the end of a specific period.
How do I redeem my rewards?
Rewards can be redeemed in several ways. Some providers mail a check after a specific period. Others credit the earnings to your account and still others give card holders the option to redeem the rewards for services or novelty items. Please check the terms provided by your lender for a better idea of the redemption methods.
Why do gas station merchants add a surcharge to purchases made with a credit card?
Most likely they do this to recover some of their costs for processing credit card transactions.
Does this surcharge only apply to specific credit cards?
Most merchants apply this surcharge to all credit cards, Visa, MasterCard, Discover, AMEX etc. All credit cards are subject to the same surcharge. There are merchants who waive this fee for cardholders who carry a credit card that is specific to their brand. For instance, if you use a BP credit card at a BP gas station the charge might be waived.
How much is the surcharge?
The surcharge fee that the merchant sets varies from one merchant to another. The fee cannot surpass the transaction fee that the merchant is charged to process a credit card transaction. You should find out what the fee is when you visit your preferred gas station.
My gas station no longer accepts credit cards can they do this?
Yes. The merchant has the final say on what type of payment will be accepted.
What is a hold charge?
When a merchant requests a specific amount to be held on a credit card until the credit card transaction is processed this is called a hold charge. This is a common process for hotels, car rental companies and gas stations. At gas stations this normally takes place when you pay at the pump since the transaction itself might not be processed for a couple of days. The hold charge will be released once the transaction has been processed and approved by your credit card company.
What can I do to avoid hold charges?
At the gas station you can avoid hold charges by paying for your purchases at the register rather than at the pump. If the hold charge is still there after a few days you can ask the merchant to contact your credit card company to have the charges removed.
We recommend you check out the best gas rebate credit card on the market.
If you have any other questions, please contact us.
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