Gas Station Cards vs Gas Rebate Credit Cards
Understanding the Difference Between Gas Station Cards and Gas Rebate Cards
With gas rebate credit cards the cardholder will be able to carry over the account balance from month to month. This has its benefits and drawbacks. If you have an emergency and need to use your available cash the credit line could be a welcome relief. The drawback is the high interest fees that would be applied to any balance left on the card.
Another area that distinguishes gas rebate credit cards is the accompanying Visa or MasterCard logos which mean that the card can be used anywhere that Visa or MasterCard are accepted. Cardholders of gas station credit cards also receive a monthly statement every month and will be required to pay at least a minimum balance that is calculated as a percentage of their balance.
Gas cards are different in that the card can only be used to make purchases at that particular chain of stations. The cardholder will be required to pay off the balance every month or risk having the account closed. A lot of them offer members a number of benefits for their loyalty including discounts on fuel purchases and other auto related rewards.
Advantages of Gas Station Cards
Gas cards are easier to acquire than gas station credit cards because the gas stations usually have less strict requirements than those of banks and credit card companies. With just a driver's license almost anyone can get approved for a gas card.
This is good news for those who have poor credit or no credit at all. As long as the station reports your activity to the major credit bureaus you can use gas cards to build your credit or repair it if you make your payments on time.
Advantages of Gas Rebate Credit Cards
Consumers like the flexibility that they get from using gas rebate credit cards. With them they are not tied to one specific gas station. They can top up wherever they get the best prices and still enjoy generous rebates on all their gasoline purchases.
The rebates that cardholders get can vary from 2-5% and could translate into a yearly savings of around $250 for just the average driver.
The available line of credit makes it convenient for cardholder to add all their gas purchases to one card and just make one single payment every month to clear off the balance. This gives businesses or householders a clear picture of their fuel purchases for the month. Additionally the card can be used to make purchases anywhere Visa and MasterCard are accepted and according to the program they can earn points for these other purchases as well.
As great as the benefits are for gas rebate credit cards it is also recommended that cardholders pay off their balance every month in order to truly reap the benefits of these cards.
We recommend you check out the best gas rebate credit card on the market.
Related Gasoline Credit Card Articles:
- What Is A Gas Station Credit Card?
- How To Choose The Best Gas Credit Card
- How To Apply For A Gas Credit Card
- Tips To Get The Most Cash Back With Gas Credit Cards
- Pros And Cons Of Using Gas Credit Cards
- Gas Station Cards Vs Gas Rebate Credit Cards
- Gas Credit Cards Vs Airline Cards
- Benefits of a Gas Credit Card For A Small Business
- More Articles >