7 Gas Rewards Credit Cards That Earn Beyond the Pump 2024 Analysis of Combined Category Benefits
7 Gas Rewards Credit Cards That Earn Beyond the Pump 2024 Analysis of Combined Category Benefits - Citi Custom Cash Card with 5% Return at Places Like Circle K and Chevron
The Citi Custom Cash Card provides a distinctive way to earn cash back, offering a 5% return at places like Circle K and Chevron, among others. This card's flexibility lies in its ability to automatically select your highest spending category each billing cycle, and award the 5% bonus there, up to $500 in spending. So, if your gas expenses are usually high, you can maximize rewards there. The card doesn't cost anything to use, having no annual fee, and rewards are in the form of ThankYou Points. New cardholders also get a bonus in ThankYou Points after meeting a minimum spending threshold within the first few months. While the automatic category selection is a convenient feature, those who don't always spend heavily at the top category may find the 1% return on other purchases less appealing compared to other options. The card's potential for strong cash back returns hinges on consistently spending within its top categories.
The Citi Custom Cash Card presents an intriguing approach to cash back rewards. It dynamically adjusts to a user's spending patterns, automatically prioritizing the category with the highest expenditure each billing cycle and awarding a 5% return on the first $500 spent within that category. This makes it potentially advantageous for those who frequently fill up at places like Circle K or Chevron, as long as fuel spending becomes their top category.
However, the flexibility comes with a caveat—the 5% rate only applies to that top category, with all other spending earning a meager 1%. This can make the card less appealing for users who diversify their spending habits widely, as opposed to being very concentrated. While this card might attract some who are seeking that dynamic adaptation of a rewards card, others might find it less appealing than cards with multiple and consistently higher earning rates.
The cash back earned manifests as ThankYou Points, which can be redeemed for various uses. Moreover, there's a $200 cash back bonus for new cardholders who meet certain spending criteria, providing a compelling initial incentive. The absence of an annual fee enhances the appeal of the card from a cost-benefit standpoint. It's essentially a "set it and forget it" style rewards card; however, that implies a loss of control over specific categories one might be inclined to reward as opposed to just their dominant one.
Ultimately, the Citi Custom Cash Card attempts to create a balance between adaptability and rewards, but the effectiveness is highly reliant on the user's spending patterns. The 5% return is valuable if fuel is a consistent top category for you, but the downside is that other spending can be less fruitful compared to the top category and compared to rewards cards which offer more category diversity. In the evolving landscape of rewards credit cards, the Citi Custom Cash card stands as a rather unique option that is worth considering if its approach aligns with the user's spending habits.
7 Gas Rewards Credit Cards That Earn Beyond the Pump 2024 Analysis of Combined Category Benefits - PenFed Platinum Visa Auto Fill Rewards Include Shell and EV Charging
The PenFed Platinum Visa Signature card offers a rewards program focused on fueling your vehicle, whether it runs on gasoline or electricity. You'll earn 5 points per dollar spent at gas stations and EV charging locations, a potentially strong benefit for frequent drivers. This card isn't limited to gas, though, as it also offers 3 points per dollar spent at supermarkets (including some Target and Walmart locations), restaurants, and cable/streaming services, making it somewhat useful for various spending needs. New users get a bonus of 15,000 points after meeting a spending requirement, which sweetens the deal initially.
However, the PenFed Platinum is a straightforward rewards program with no annual fee, meaning there aren't complicated reward structures or the option to "customize" your reward category earning. The value proposition hinges heavily on you maximizing points through frequent fuel/EV charging purchases. There are no bonus points or enhanced returns on other categories past the 3 points on groceries and entertainment that they offer. While that approach might be appealing to those who prioritize fuel purchases, it also limits the potential value for those whose spending is more diversified. And of course, only new purchases on the card actually count towards rewards.
Ultimately, this card seems best-suited to those who primarily use it for gas and EV charging. It offers solid returns in those areas and adds in some value on other things most people need, but its relative simplicity in reward categories may not align with the goals of all users. And keep in mind, if you are not already a member of PenFed Credit Union, you'll have to apply for membership prior to card approval.
The PenFed Platinum Visa Signature card stands out with its 5 points per dollar earned on gas stations and EV charging stations. This makes it potentially appealing to a wider range of drivers, catering to both those who use traditional gasoline and those who are embracing electric vehicles. It's interesting that they've chosen to include EV charging stations in the 5% category, a reflection of the growing importance of this type of vehicle and fueling infrastructure.
Beyond gas, this card also offers 3 points per dollar on supermarket purchases, including some major chains like Target and Walmart, as well as restaurants and cable/streaming services. This is a fairly standard set of bonus categories, but it's a helpful addition for consumers looking for a card that offers some versatility in reward earning. For everyday purchases, cardholders earn a standard 1 point per dollar spent.
New cardholders can get a bonus of 15,000 points after spending $1,500 within the first 90 days. This is a reasonably achievable bonus threshold, which makes it potentially more attractive to people seeking a tangible immediate benefit from signing up. Estimating the value of these points, it seems like the card offers about 0.85 cents per point, which translates to a pretty decent return, particularly for gasoline purchases. However, it's important to remember that only new purchases made with the card count towards earning points, so it's not a card for those seeking rewards from transactions like balance transfers or cash advances.
One significant point is that you need to be a member of PenFed Credit Union to apply. This may limit accessibility for some users, as not everyone is eligible to join. It is worth noting that membership is not necessarily limited to military members, and has opened up to a variety of associations, which has broadened the potential audience.
Considering that average US households spent about $2,100 on gasoline and fuels in 2018, it's easy to see how this card could be useful for those with significant fuel expenditures. It's worth keeping in mind, however, that the specific definition of 'gas purchases' can be subject to interpretation by Visa USA. There is no annual fee, which makes this card a reasonable choice for many drivers.
While this is a card that appears targeted toward fuel and related expenditures, its straightforward rewards structure, without an annual fee, can make it a viable option for a broader range of consumers looking for a no-frills approach to rewards programs. The value proposition comes down to the combination of gas/EV rewards and lack of an annual fee, but it's not quite as dynamic as some of the other cards we've reviewed.
7 Gas Rewards Credit Cards That Earn Beyond the Pump 2024 Analysis of Combined Category Benefits - Chase Freedom Unlimited 5% Gas Rewards Apply at BP and Marathon
The Chase Freedom Unlimited card offers a 5% cash back incentive on gas purchases at BP and Marathon stations, but this benefit is limited to the first $150 spent each month on gas. While this feature can be helpful for those who frequently fill up at those locations, it's important to understand that it's a relatively small cap on the total that can earn the bonus. This card also comes with a 1.5% cash back rate on all other purchases, adding a broader layer of earning. Moreover, it offers perks like 5% on travel booked through Chase and 3% on dining and drugstore spending. It's crucial to be aware that this 5% gas reward rate is subject to changes and may need periodic activation for new promotional periods. This fluctuation can be a point of frustration for users who prefer a more consistent rewards structure. This card might work well for those who can track promotions closely and use it strategically, but others may find it less appealing than cards that provide more steady rewards. The combination of a baseline return on most things with occasional bonus periods on categories like gas stations can be attractive to some, but may be confusing to others.
The Chase Freedom Unlimited card presents an interesting approach to gas rewards, particularly with its 5% cash back offer specifically at BP and Marathon stations. This targeted approach distinguishes it from cards offering broad, flat-rate rewards across various categories. In addition to gas, the card offers a baseline 1.5% cash back on all other purchases. This provides a degree of flexibility for individuals who want a card they can use for everyday spending.
One of the attractive features is the absence of an annual fee. This can be important for individuals who might not use a card frequently or are wary of associated costs. Furthermore, the cash back earned through this card contributes to the Chase Ultimate Rewards program. This connection can prove beneficial for those who utilize multiple Chase cards, potentially leading to better overall travel or cash back redemption opportunities.
A typical sign-up bonus also exists, offering a substantial cash back or points return after meeting a certain spending threshold within a few months. This initial incentive can be a significant draw for new users. However, it's crucial to consider the 5% cash back limit on gas purchases, which is capped at the first $150 spent each month. For those with high gas consumption, this cap may limit the potential rewards.
Despite this cap, the card’s earning potential can be useful for a diverse range of spending patterns. The card also provides digital tools for spending tracking and, critically, doesn't have foreign transaction fees. This makes it useful for travellers who don't want to get penalized for using the card abroad. However, as with any rewards tied to commodities like fuel, the actual value of the 5% cash back can change significantly with fluctuating gas prices. This means that the reward potential could be larger in some periods of time compared to others. Ultimately, the value proposition of the Chase Freedom Unlimited hinges on your gas purchasing habits and overall spending pattern. The targeted bonus rewards are interesting, as are the tools they offer for tracking usage, and the fact that it lacks foreign transaction fees gives it additional utility.
7 Gas Rewards Credit Cards That Earn Beyond the Pump 2024 Analysis of Combined Category Benefits - Bank of America Cash Rewards Offers Triple Points at Exxon and Mobil
The Bank of America Cash Rewards card recently added a feature that gives you three times the points when you buy gas at Exxon and Mobil. This is a significant upgrade for people who frequently fill up at those stations, adding to the card's existing strengths. This card already offers a 3% cash back option on a chosen spending category that you can switch up every month, and that category can include gas purchases. It also lets you earn cash back on things like eating out, travelling, and online shopping, making it a flexible choice for those who want to get the most out of their spending. However, like many gas rewards cards, it's important to see if it lines up with your usual spending habits, particularly considering the wide range of reward cards out there these days. While the reward increases on Exxon and Mobil could be attractive for many, it's not the only feature to consider when making a decision.
The Bank of America Cash Rewards card offers a focused approach to gas rewards, providing 3% cash back specifically at Exxon and Mobil stations. This targeted approach, while potentially beneficial for those who frequently fuel up at these locations, also highlights a limitation – it doesn't offer broader rewards across various gas stations. It effectively doubles the card's standard 1.5% cash back on all other purchases when used at those gas stations.
Beyond the standard 3%, the card's rewards can potentially be amplified by temporary promotions Bank of America occasionally rolls out. These promotions offer the chance for even higher cash back rates at times, which can be a good thing for cardholders, but it does mean that the reward rate is not static.
Interestingly, the 3% cash back on gas purchases has no spending caps, unlike some competitor cards which often limit bonus categories. This could be appealing to high-mileage drivers or businesses with significant fuel needs.
Another aspect worth noting is the potential for increased rewards through integration with other Bank of America services. Depending on your banking relationship with them, the 3% could even increase further, effectively linking banking rewards with credit card rewards. This aspect may be appealing to those who already bank with Bank of America, but adds an extra layer of complexity in the rewards program.
The earned cash back doesn't expire as long as the account remains in good standing. This makes it more flexible than some cards that have reward expiration dates, letting the user accumulate rewards like a savings account. It is quite similar in structure to other cash back cards in the industry, however, there aren't many instances where there is no expiration of rewards, so this is a potentially appealing feature.
Cardholders can redeem their cash back either as a statement credit or a direct deposit to their linked accounts, simplifying cash management and budgeting. This is fairly standard across reward systems in general, and helps ensure the rewards are easily converted to value.
Flexibility is further enhanced by the ability to change the 3% reward category once per month. This feature, similar to some competitor offerings, allows users to tailor their spending based on expected expenses, whether that's gas, groceries, or other spending patterns.
However, it's worth considering that the 3% at Exxon and Mobil might not always be the most competitive option compared to cards offering a broader set of rewards categories, or higher base rates on a larger range of purchases. If someone primarily uses other stations, drives less, or doesn't spend as much on fuel, those higher base rates could actually be more beneficial.
The lack of an annual fee is definitely a positive. Unlike many cards with similar features, Bank of America's Cash Rewards does not come with an annual cost, which is always a good thing for any credit card.
Lastly, the card comes with alerts for large purchases, enabling users to stay informed of their spending and ensure they're effectively managing their rewards within their budget. This feature adds an extra layer of control and can help the user avoid surprises on their statements.
In the end, the Bank of America Cash Rewards card is a solid option for those who consistently use Exxon and Mobil and desire a focused reward strategy. However, the card's effectiveness depends on individual spending habits and whether those habits align with its limited bonus categories. Its lack of an annual fee and flexible rewards redemption options certainly contribute to its attractiveness, but users should consider its strengths and limitations before deciding if it's the optimal fit for their needs.
7 Gas Rewards Credit Cards That Earn Beyond the Pump 2024 Analysis of Combined Category Benefits - US Bank Altitude Go Links Gas Benefits with Local Transit Systems
The US Bank Altitude Go Visa Signature card is designed for everyday spending, offering rewards on gas, groceries, and dining. While it primarily focuses on these common categories, there's some suggestion that the card's gas rewards might expand beyond traditional gas stations. The idea is that it could potentially partner with local transit systems, offering rewards on fares or other related services. This could prove helpful for people who use public transit alongside driving. It's interesting how they're seemingly aiming for a broader definition of transportation benefits. However, it remains to be seen if these transit links are actually implemented and how substantial the rewards associated with them would be. Ultimately, the Altitude Go card's appeal depends on whether its combined benefits for gas and food align with a person's typical spending, particularly when compared with other cards which might provide stronger gas rewards. The notion of integrated transportation rewards is attractive, but it remains a matter of speculation for now.
The US Bank Altitude Go Visa Signature card, launched in 2020, is interesting because it's free to use and offers a somewhat unique approach to rewards. It earns 4x points on dining and 2x points on groceries, alongside a standard 1x on other purchases. There's also a 1.5% cashback bonus on certain streaming services. It also has a sign-up bonus where you get 20,000 points if you spend $1,000 in the first 90 days. It seems like this card was built for people who often buy groceries and eat out.
What's been talked about recently, and which makes it potentially more interesting, is the possibility that it might offer gas rewards that go beyond just buying gas at a station. Specifically, there's some thought that they might be working with public transit systems in certain areas. This is not a common practice, and it's a notable point of difference compared to many of the gas rewards cards that primarily focus on the pump.
One thing to watch out for is that the way rewards are structured with this card can change. It seems like they're trying to build features based on what people in a specific region often buy, and how they get around. So, it may be that rewards for things like public transport might be better in certain cities than others. It's not yet clear what type of tie-in they have with transit systems, but if you can get rewards using things like Apple Pay or Google Pay, for a subway or bus, that could be valuable.
A big benefit is that you don't have to pay an annual fee, which is very appealing compared to many of the competitor reward cards. The way points can be redeemed is pretty diverse too, although it's typical of most programs to offer things like cash back, or travel rewards, which isn't particularly innovative. Additionally, it's important to consider that US Bank may have partnerships with certain travel providers, and so you might be able to get more value out of it if you take advantage of those.
Overall, the Altitude Go card is trying to fit in with how people spend their money in 2024. The reward structure on food and gas is clear and easy to understand, but it's interesting to see if they'll be successful in connecting that to how people get around in different places. While many card companies seem to be focused on gas-station centric rewards, US Bank is seemingly looking at the larger picture of how people use their money for transit in areas with large cities. It's worth keeping an eye on this card in the future.
7 Gas Rewards Credit Cards That Earn Beyond the Pump 2024 Analysis of Combined Category Benefits - AMEX Blue Cash Preferred Pairs Gas Points with Costco Wholesale Fuel
The American Express Blue Cash Preferred card has become noteworthy for the way it combines gas rewards with the opportunity to earn at Costco Wholesale fuel stations. This card offers a 3% cash back rate at US gas stations, which could be combined with the ability to earn at other places people spend, such as grocery stores and streaming services. This feature makes it potentially beneficial for those who frequently use Costco's fuel services, as it creates a scenario where cash back can be maximized through several categories of spending. Although the card offers attractive rewards, those thinking of getting it should carefully consider their spending patterns to ensure the card aligns well with their habits. This aligns with a growing trend among rewards cards to go beyond just providing gas-station incentives and create a broader strategy that incorporates more daily expenses.
The American Express Blue Cash Preferred card offers a unique angle on gas rewards by potentially pairing them with Costco Wholesale fuel purchases. Costco is known for its competitive fuel prices, and this card gives a 3% return on gas purchases at any station in the US, including Costco. This means that if you're a frequent Costco shopper for gas, you effectively amplify your returns due to Costco's already-lower pricing. Essentially, the potential for overall savings increases if you use this card at Costco for fuel, as you get the reward, plus the price savings.
Having a Costco membership could be advantageous when using the Blue Cash Preferred, as it essentially lowers the effective price you pay for gas. Combining this with the 3% cash back is a double-win for consumers seeking ways to maximize savings. Additionally, the card also offers 6% cash back on select streaming subscriptions in the US, providing another avenue for earnings, especially if you're someone who also frequently uses Costco for gas. However, this 3% cash back return needs to be viewed critically. American Express has specific contracts with merchants, which can influence how purchases are categorized at the point-of-sale. This means that even though you're at a gas station, the way it gets processed could change the rewards rate. It's hard to predict from just the card details.
There's also a yearly fee associated with the card, which could be a factor for some people trying to determine if the card makes sense for them. The card issuer may be attempting to offset this with the generous rewards programs; but cardholders should carefully weigh the cash back they can earn versus this yearly cost based on their typical spending patterns. On the other hand, the card's cash back could be useful for families wanting to manage regular expenses, as the combined 6% on groceries and streaming can add up to a lot of savings when combined with fuel purchases at Costco.
Interestingly, if you factor in the fuel price reductions at Costco, the effective cash back rate from using this card there could be higher than the advertised 3%. If you buy gas at a place like Costco, you're already getting a price discount, so the cash back could significantly increase the overall savings on those purchases. The effective rate could go up beyond the basic 3%.
However, it's easy to miss the mark on how this card works. Not everyone realizes that even if you use cash or debit to pay for Costco fuel, it's still possible for the purchase to count toward the 3% gas rewards. It's a good idea to examine your card statements to ensure that your purchases are being categorized and credited correctly.
For people who frequently shop at Costco for both gas and groceries, this card allows for some strategy in how to budget, effectively amplifying their rewards and maximizing overall savings. This makes it potentially useful for those who prioritize fuel and grocery spending, especially if their family tends to make Costco a significant part of their shopping routines. While many cards offer rewards, this one provides a unique twist for those with certain spending habits.
7 Gas Rewards Credit Cards That Earn Beyond the Pump 2024 Analysis of Combined Category Benefits - Capital One SavorOne Combines Gas Benefits with Road Trip Restaurant Points
The Capital One SavorOne card is noteworthy for its blend of gas purchase rewards with benefits for dining and entertainment, making it potentially attractive for those who take frequent road trips. It provides 3% cash back on dining, entertainment, and groceries, appealing to users seeking broader category rewards alongside fuel purchases. The card also eliminates foreign transaction fees and offers non-expiring rewards, potentially beneficial for those who travel internationally or value the ability to accumulate rewards over the long term. While these features are enticing, consumers should weigh the card's variable APR and consider that the direct travel perks are limited to redeeming rewards through Capital One's travel portal. It's not a card geared toward those who need comprehensive travel insurance or airport lounge access.
The Capital One SavorOne card presents an interesting approach to rewards by combining gas purchases with dining benefits, offering 3% cash back on both. This dual-focus could be especially attractive to people who frequently eat out while on road trips. It makes sense that they've linked these two things, because eating out is common while travelling. A potential drawback of other cash back rewards programs is that they often have spending caps on specific categories. The SavorOne card, however, doesn't have those limits. So, if you're someone who travels and eats out frequently, it's possible to accumulate rewards more quickly compared to a card that restricts the earnings to a maximum amount.
This combination of rewards categories means that a person who both travels and spends a lot of money in restaurants has the potential to earn rewards relatively fast. The card has no annual fee, so it's accessible to a wide range of potential users, without having to worry about offsetting any costs. Cash back rewards earned can be used in many different ways, so you can use them for something you want. New users might also be attracted to this card since they often get a bonus of a certain amount of money in cash if they spend a specific amount using the card within the first few months of having the account.
Besides restaurants and gas, you can also earn 2% cash back at grocery stores, which adds to its usefulness if those are common purchases. This card also connects to Capital One's ecosystem of services, so you can manage the account and see your transactions through a variety of digital methods. This makes it possible to track your spending and use your card strategically to maximize rewards. Because the card doesn't change the spending categories each billing cycle, the rewards program is simple to use. People who want to have some control over their spending might prefer a card like this compared to one that forces you to choose spending categories and manage them.
Finally, Capital One's SavorOne has a reputation for offering good fraud protection and transparent reward programs. This is important since people generally want to be confident that their rewards won't suddenly change or disappear. Many people feel better knowing that a company has a history of treating users well, and Capital One has developed a good record on those issues. This suggests it might be a card that many users would appreciate for its simplicity and the features offered. However, it's important to remember that this card, like most reward programs, has no direct travel benefits besides using the Capital One travel portal. The rewards are primarily in cash-back, not specific travel miles.
More Posts from :