The best credit cards for gas

Woman at a gas station filling up her card and wondering what are the best gas rewards credit cards Woman at a gas station filling up her card and wondering what are the best gas rewards credit cards Image:

In a Nutshell

Gas rewards credit cards can be a great way to earn cash back or points when you fill up. Check out our roundup of the best picks here.

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Leaving more money than you’d like at the pump?

Whether you’re commuting to work, picking up groceries or headed out on your next adventure, one thing’s for sure — high gas prices can make the cost of driving add up quickly.

Luckily, we’ve done the research and compiled a list of the best gas rewards credit cards, all of which can help offset the cost of filling up.

Gas rewards Welcome bonus
Blue Cash Preferred® Card from American Express 3% cash back at U.S. gas stations $200 statement credit after spending $1,000 in purchases in first three months
PenFed Platinum Rewards Visa Signature® Card 5 points per dollar $100 bonus statement credit after spending $1,500 in purchases in first 90 days (for accounts issued from July 1 – September 30)
Costco Anywhere Visa® Card by Citi 4% cash back (up to $7,000/year, then 1% thereafter) None
Bank of America® Cash Rewards Credit Card 3% cash back (for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter) $150 online cash rewards bonus after spending $500 in purchases in first 90 days of account opening

Blue Cash Preferred® Card from American Express

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One of the best gas rewards credit cards available, the Blue Cash Preferred® Card from American Express is a great option to consider if you’re looking for lucrative cash back rewards.

Currently, this card offers 3 percent cash back at gas stations in the U.S. Even better, you’ll also get 3 percent cash back at select U.S. department stores and a whopping 6 percent cash back at U.S. supermarkets on up to $6,000 in purchases per year (then 1 percent).

Cash back is received as Reward Dollars that can be redeemed as a statement credit after your rewards balance is $25, effectively lowering your credit card bill.

Though this card is a good option for getting cash back on gas and food purchases, there are a few downsides. For one, American Express isn’t as widely accepted as Mastercard® or Visa®. And then there’s that pesky annual fee of $95, which may limit the card’s benefits if you’re not a frequent shopper and driver.

Pros:

  • 3 percent cash back at U.S. gas stations.
  • 6 percent cash back at U.S. supermarkets on up to $6,000 in purchases per year (1 percent cash back after that).
  • 1 percent cash back on all other purchases.
  • $200 statement credit after spending $1,000 in purchases within the first three months.

Cons:

  • $95 annual fee.
  • American Express isn’t as widely accepted as Mastercard® or Visa®.

PenFed Platinum Rewards Visa Signature® Card

Another option to consider is the PenFed Platinum Rewards Visa Signature® card, which offers 5 points per dollar spent on gas purchases. That means if you spend $300 on gas purchases in a month, you’ll earn 1,500 reward points. Do that two months in a row, and you’ll have more than enough to redeem for a $25 gift card starting at 2,940 points. That may not be the greatest value on earth, but this card also has no annual fee and comparatively low interest rates for a rewards credit card. Unfortunately, you must be a PenFed Credit Union member to qualify. Click here to see if you’re eligible for membership.

Pros:

  • 5 points per dollar spent on gas purchases.
  • 3 points per dollar spent on supermarket purchases.
  • 1 point per dollar spent on all other purchases.
  • No annual fee.
  • APR for purchases and cash advances as low as 9.49 percent based on your creditworthiness — a competitive rate for a rewards credit card.
  • 12-month 0 percent introductory APR for balance transfers made July 1 to September 30. After that, it will be a variable APR from 9.49 to 17.99 percent based on your creditworthiness.

Cons:

  • Points have a relatively low value.
  • Must be a member of PenFed Credit Union.
  • Points expire after five years.
  • Fees of $15 and $25 to book airline tickets online via phone, respectively.
  • There’s a 3 percent balance transfer fee.

Costco Anywhere Visa® Card by Citi

From our partner

Costco Anywhere Visa® Card by Citi

From cardholders in the last year

See Details, Rates & Fees

The Costco Anywhere Visa® Card by Citi is one of the best gas rewards credit cards out there, as it offers an impressive 4 percent cash back on gas purchases worldwide for up to $7,000 per year, then 1 percent cash back after that. Better yet, there’s no annual fee and cardholders can receive cash back on their Costco purchases, restaurant spending and more. Just remember, you’ll have to be a Costco member to take advantage of all those perks.

Pros:

  • 4 percent cash back at eligible gas stations on up to $7,000 in purchases per year (1 percent cash back after that).
  • 3 percent cash back on eligible restaurant and travel purchases.
  • 2 percent cash back on all other Costco purchases.
  • 1 percent cash back on all other non-Costco purchases.
  • No annual fee.
  • 0 percent introductory APR on purchases for the first 7 months. After that, the variable APR will be 16.24 percent.

Cons:

  • Must be a Costco member (which costs at least $55 per year).
  • Your reward certificate must be redeemed before its expiration date (December 31 in the year in which it was issued).
  • There’s a balance transfer fee of 3 percent, minimum $5.

Bank of America® Cash Rewards Credit Card

From our partner

By opting for the BankAmericard Cash Rewards™ credit card, you can make the pump work for you by earning 3 percent cash back on gas purchases. There’s no annual fee, and as a Bank of America® customer you can receive a 10 percent bonus when you redeem your cash back into a Bank of America® checking or savings account. On the downside, there are some not-so-great spending limits associated with this card. You’ll only able to earn cash back on the first $2,500 in combined grocery/wholesale club/gas purchases each quarter, which means you’ll probably want to have another rewards card at the ready if and when you hit that quarterly limit.

Pros:

    • 1 percent cash back on every purchase, 3 percent cash back on gas and 2 percent cash back on groceries and at wholesale clubs (up to $2,500 in purchases from combined categories each quarter).
    • $150 online cash rewards bonus after spending $500 in purchases within 90 days of opening your account.
    • 10 percent customer bonus when you redeem your cash back into a Bank of America® checking or savings account.
    • No annual fee.
    • Rewards don’t expire.
    • 0 percent Introductory APR for 12 billing cycles for purchases AND for any balance transfers made in the first 60 days, then, 13.99% – 23.99% Variable APR. A 3% fee (min $10) applies to balance transfers.

Cons:

      • Not great if you spend more than $2,500 on gas and groceries per quarter.
      • There’s a 3 percent (minimum $10) balance transfer fee for each balance transfer transaction.

Bottom line

There are many rewards credit card options out there, which can make it hard to decide which one to choose. “The key is to think about where you spend the most, and pick a credit card that best suits your needs,” says Jason Gaughan, a card products executive at Bank of America®. If you’re always on the go and gas is one of your biggest expenses, consider one of these gas rewards credit cards to help your money take you even further.


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