Gas Rewards Credit Cards Save You Money At The Pumps
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The article "Gas Rewards Credit Cards Save You Money At The Pumps" talks about credit, it has been created by Ed Vegliante.
Gas prices breaking your budget? Switch to a money back cerdit card rewards plan and save 2% to 5% on all your purchases at your favorite gas station. For credit savvy consumers that can make a difference in real dollars and cents.
Branded gas company cards can cost you
By using a major credit card offered by Visa, Mastercard or American Express for your gasoline purchases you can save a lot of money over a branded gas company card, such as Shell, Amoco, Ctigo or Exxon. Usually these gasoline branded cards have a much higher interest rate, usually about 21% or more.
Transfer your balance and you could save even more
Another plus - by transferring your credit card to a money rewards credit card, you can often take advantage of a 0% APR credit card balance transfer, and save even more. As gasoline prices edge ever higher, this can be a welcome breather to a strained household budget.
How money back credit card rewards or rebates work
Typically, money rewards cards offer you rebates on all purchases, including groceries, retail items, movie tickets as well as gas.
Cash back credit card rewards are sent to you either as a check or as a credit to your account.
These amounts can add up significantly if you travel or put in many miles commtuing.
Not all money rewards are alike
Some gas companies will "brand" their company specific card with a Visa, or Mastercard logo, for example, and can be used anywhere but you will only receive a money rweard if you purchase gas from that specific station. These types of cards are limiting as to how and where you can use them, and you won't always get the lowest cost on gas.
If you relaly want to save
For consumers who pay off their credit card balances every month, this type of money back credit card can really be beneficial, by providing a money rewards with only a token finance charge. Look for a credit card offer with no annual fee, or transfer your balance to a 0% APR credit card that also offers money back rebates.
So, if gas prices are breaking you budget, consider switching to a gas rewards credit card offering money back.
Used wisely, money back credit cards can be a useful tool in balancing your budget.
Copyright 2005 Ed Vegliante.
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Gas Rewards Credit Cards Save You Money At The Pumps
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