Reasons To Use Your Gas Credit Card Over Cash Or Debit Cards

The use of debit cards has increased a lot with the economic downturn. Consumers use their credit cards as a way to avoid added debt but for a responsible consumer credit cards still rules. Using your gas credit card responsibly can prove to be beneficial in several ways. Although debit cards do have their benefits such as conveniently drawing funds for purchases directly from your bank account it does not help in any way to establish financial trust. Below are 7 things that your gas credit card will help you do that you won't receive from using debit cards or cash.

Improve your credit score: Using your gas credit card to pay for purchases that are made even outside of the gas station and paying your bill on time will help you to improve your credit score. Debit cards will not help your credit since the money is drawn directly from your account.

Earn generous rewards: The rewards are getting better and better as credit card companies seek out more ways to entice consumers. With your gas station credit card you will save on your top ups, purchases at the gas convenience store and even earn cash back rebates on specific purchases. Although there might be a few debit cards that offer rewards they are not where near the caliber of rewards provided by credit cards.

Increase your purchasing power: You can use your available credit to make large purchases if you need to and the best part is that the more you purchase the more rewards you will earn. With a debit card you can only use the money that you have available in your account so your purchasing power is limited to what you have available.

Fraud protection: In order to protect consumers both credit cards and debits come with built in fraud protection. What does this mean? It means that if the card is lost or stolen it can be reported right away and any funds not spent by the card holder will be refunded. The difference between the protection provided is that with credit cards the liability is limited when there is fraud or identity theft. For debit cards though the funds are immediately taken from the bank account and although the money will be refunded it is not done immediately. This lapse means that your short term spending would be affected until the money is credited back to you. The other downside with debit cards is that if you do not report the incident immediately there is no guarantee that you will recover your money.

Purchase protection: If you pay for an item with the credit card and it turns out to be less than what you expected you can use purchase protection if you run into problems with the merchant. This is very helpful if you purchase a lot online. All you will need to do is contact the credit card company and file a dispute and after an investigation you will receive a refund if the investigation is in your favor.

Extended warranty: Your gas station credit card will give you additional warranty or protection on your purchases. In some cases this suitably doubles the manufacturer's warranty or in the case of a car rental it can provide additional insurance. With Visa and MasterCard the extended warranty can run for 90 days after purchase and in effect the item will be replaced, repaired or the funds reimbursed if the item is damaged or stolen.

Reserve a rental car: If you plan to rent a vehicle you will need to provide a credit card to hold the rental. Usually even if you pay with debit card you will not be able to use the card to hold the rental. If they do allow it they would freeze a few hundred dollars on your bank account in order to release the car. In this case funds in your account are held until you return the car. An added advantage of gas credit cards in this case is that with your car rental you will earn extra rewards and even be given discounts on the total cost of the rental.

We recommend you check out the best gas rebate credit card on the market.

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