Wednesday, April 14, 2010

Saving on gas: Part 4

One in a series on saving on gasoline costs.

Today's tip: Get the card

I have a gasoline company credit card that offers rebates. Truth is, I seldom use it to buy gas at that retailer.
What do I use it for? Household stuff ... everything from groceries to hardware store purchases. So two or three times a year, I pile up enough rebates to get a gift card ... good for gas at that retailer, of course.

Many gasoline retailers offer credit cards with a rebate program. The rebate percentages vary -- usually from 1% to 5%, depending on what you buy. (The highest rebates usually are on gas purchases.) Many also will offer incentives for signing up -- like 5 cents off a gallon when you use the card.

The rewards differ, too. Some send a gift card you can use at the pump, others credit your bill. The downside, some charge annual fees, so check the fine print before signing up. And it probably goes without saying, but pay off that card every month. Interest rates will eat up any rebates you earn.

Don't want to be tied to a particular retailer? Other cards, such as Discover and American Express offer rebates on gas purchases, too. Rewards tend to range from 3% to 5% on a gasoline purchase.

No comments: