Best Gas Credit Cards of 2014

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Best Gas Credit Card

Painful Gas Prices

Do you have to commute or drive long distances often? High gas prices can do some major damage to your wallet. Luckily, if you have the right credit card you can earn cash back on gas purchases.

Sometimes, you can earn up to 5% cash back on all of your gas purchases. That will take a little bit of the sting away. Especially when you do a lot of driving, like I do around the holidays every year. Check out the best gas credit cards listed below.

Costco American Express Credit Card

Costco American Express Gas Credit CardThe Costco American Express credit card offers 3% cash back at US gas stations and on gasoline at Costco. You’ll only earn the 3% on up to $4,000 per year in purchases, then you’ll earn 1% cash back on the rest of your gas purchases for the year.

In addition to the gas rewards, this credit card offers 2% cash back at US restaurants, 2% cash back on eligible travel purchases (including at Costco) and 1% cash back on all other purchases (including any other Costco purchases).

If you have a Costco membership then this credit card has no annual fee.

American Express Blue Cash Preferred Credit Card

Blue Cash Preferred Gas Credit CardThe American Express Blue Cash Preferred credit card offers 3% cash back at US gas stations year round. In addition to the gas rewards, there are some other amazing cash back categories.

The credit card also offers 6% cash back at US supermarkets (up to $6,000 per year in purchases), 3% cash back at select US department stores and 1% cash back on all other purchases. Of course, terms and limitations apply.

There is also a sign up bonus on this credit card of 100 Reward Dollars after you use your new Blue Cash Preferred card to make $1,000 in purchases within the first 3 months.

The cash back you earn will be issued in the form of Reward Dollars that can be redeemed as a statement credit.

This credit card does have a $75 annual fee, but the 6% cash back at grocery stores can make up for it quickly.

American Express Blue Cash Everyday Credit Card

blue cash everyday gas credit cardIf you don’t like annual fee credit cards but like the Blue Cash Preferred Card, the Blue Cash Everyday card has no annual fee.

Cash back is earned as follows for the Everyday card:

  • 2% at US gas stations
  • 3% at US supermarkets (up to $6,000 per year in purchases)
  • 2% at select US department stores and
  • 1% on other purchases

The Everyday card offers a 50 Reward Dollars sign up bonus after you use your new Blue Cash Everyday Card to make $1,000 in purchases within the first 3 months.

Just like the Preferred card, terms and limitations apply and cash back will be issued in the form of Reward Dollars that can be redeemed as a statement credit.

BankAmericard Cash Rewards™ Credit Card

bank americard gas credit cardThe BankAmericard Cash Rewards™ credit card offers 3% cash back on gas purchases and 2% cash back on grocery store purchases for up to $1,500 in combined grocery store and gas purchases each quarter. You’ll earn 1% cash back on all other purchases.

The credit card comes with a sign up bonus of $100 in cash rewards after you spend at least $500 on purchases in the first 90 days of account opening.

You can also get a 10% customer bonus when you redeem the cash back you earn into a Bank of America® checking or savings account.

This credit card has no annual fee.

Chase Freedom Credit Card

Chase Freedom 5 percent cash backCurrently, the Chase Freedom credit card only offers 1% cash back on your gas purchases. However, the credit card has rotating 5% cash back categories which sometimes include gasoline purchases and in 2014 you’ll get 5% cash back in January through March and July through September. Check and see what the current Chase Freedom 5% cash back categories are.

In addition to your regular cash back, you’ll earn a $100 cash back sign up bonus after you make $500 in purchases in the first 3 months from opening your account.

There is no annual fee for this credit card.

Discover It Credit Card

Like the Chase Freedom credit card, the Discover It credit card only currently offers 1% cash back on your gas purchases but this credit card does have rotating 5% cash back categories which sometimes include gas.

This credit card has no annual fee.

If you don’t spend a ton of money on gas, there could be better credit cards out there for you. Feel free to check out my current list of best sign up bonus credit cards or my list of the best 0% balance transfer credit cards.

Be Careful With Any Credit Card

Credit cards are great tools, but they can cause great suffering too. Make sure to always pay off your credit card balance in full every month. There are no rewards out there that I’m aware of that are worth paying interest for.

Keep in mind that credit cards have higher interest rates than most other types of debt. Don’t say I didn’t warn you…

What’s your favorite gas credit card? Have I missed any that make the top of your list?

The information in the article is accurate to the best of my knowledge as of February 4, 2014. It will be periodically updated as offers change. As with any offer, make sure to read all of the details on the application site as those are the terms and conditions that will govern any credit card you sign up for. What you have read here is simply a summary and does not contain all terms and conditions of any credit card.

photo by: brownpau

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About Lance Cothern

Lance Cothern, a Certified Public Accountant (CPA) licensed in the Commonwealth of Virginia, is the founder of Money Manifesto. You can read more about him here or connect with him on Facebook, Twitter, Google+ or Pinterest.

Comments

  1. I remember before cash back / rewards cards were popular I had one that paid 5% on gas. That was awesome! But they quickly changed their rules after a short while …

  2. I was a HUGE fan of the PenFed card that gave 5% cash back on gas but they just added an annual fee to that card of $25 and as a rare driver (I use public transit work and just drive on weekends) that fee didn’t justify the rewards so I dropped it.

    honestly, in my neck of the woods, most gas stations charge 10 cents or more per gallon to use credit so I’ve since converted to cash to fill up.

  3. We have different cards in Canada, but my fiance had the craziest commute before. His gas card really helped him at the end of the year.

  4. Safeway and Chevron has a promotion now where you can save up to 20 cents a gallon using your Safeway card.

    • Winn Dixie has something similar, the problem is, unless you just buy things you’d buy anyway, the grocery stores end up getting you to spend more to save a buck or two on gas.

      • An awesome aspect of Safeway’s 20 cents per gallon savings is that you only have to spend a specific limit at once– and there’s a great loop hole there! Safeway sells gift cards to lots of other stores and restaurants. Spend the required amount on the gift cards, and there you have it: 20 cents per gallon savings, and prepaid shopping at other retailers and restaurants.

  5. Nice! I think I’ve churned about all of those cards except for Discover. Right now I am doing the Southwest Rapid Rewards card!!!

  6. I have the Blue Cash Preferred card and it is great. I enjoy the 3% back on my gas and the 6% back on groceries. I use that card for everything. I have more than paid for the annual fee so far.

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