NerdWallet’s Best Gas Cards, Winter 2012 Edition
Looking for the best gas card for a little relief at the pump? It’s not as simple as picking the highest listed rewards rate: you also have to consider monthly or yearly rewards caps, limitations on how and where you fill up, and spending threshold gimmicks that don’t let you earn your full rewards rate until you’ve spent a certain amount. It’s not all bad, though. Many gas credit cards also give you rewards on everyday spending categories like groceries, clothing and entertainment. Here we’ve listed over 45 gas cards that earn more than 1% rewards at the pump. Read on for our take on the top cards based not just on the stated rewards rate, but on the cards’ limitations, restrictions and auxiliary benefits.
NerdWallet’s top gas cards:
American Express Blue Cash Preferred:
The AmEx Blue Cash Preferred is the best option for suburbanites, families or anyone who spends a good portion of the budget on gas, groceries and clothes. It gives one of the best rewards rates out there: a whopping 6% on groceries, as well as 3% on gas and department stores. The Blue Cash gives unlimited cash back, and its high rewards rate easily makes up for its $75 annual fee.
- 3% rewards on gas
- 6% rewards on groceries, 3% on department stores and 1% elsewhere
- Unlimited rewards
Chase Freedom:
The Chase Freedom is another cash back credit card, but this one has no annual fee. It gives 5% cash back on rotating bonus categories as well as 1% back elsewhere, and in 2012 gives an average of 3% back on gas (it’s a bonus category in the first and third quarters, so you earn 5% back half the year and 1% back the other half). In addition to the gas rewards, of course, you earn 5% back on the other bonus categories, and it currently comes with a $200 cash back signup bonuses. It’s one of our most popular cards for its accessibility and ease of use as well as its high rewards rate.
- 3% average rewards on gas (5% two quarters, 1% two quarters)
- 5% cash back on rotating bonus categories, 1% back elsewhere
- Bonus rewards capped at $1,500 per quarter
Costco American Express:
Most gas credit cards (most rewards credit cards, actually) don’t give rewards on warehouse purchases, which include everything from Costco. The Costco TrueEarnings AmEx is just about the only one that will give you rewards at the superstore, making it ideal for someone who makes a habit of shopping there.
- 3% cash back on gas, even at Costco
- 2% cash back on restaurants and travel, 1% elsewhere
- Gas rewards limited to $3,000 in purchases a year (~67 gallons a month)
Gas credit cards with >1% rewards at the pump
| Credit Card | Gas Reward Bonus Rate | Dollars per Month of Gas Spend That Qualify |
|---|---|---|
| Chase BP Visa | 5% at BP | $500 (enough for a $25 gift card) |
| Chase AAA (Northern Cal, Nevada, and Utah Chapter AAA members only) | 5 points per $1 spent at gas stations | $500 |
| Top pick, if you have ridiculously good credit and are willing to jump through hoops In order to get this card, you must donate $20 to an organization in order to join a credit union. Also, less than 0.5% of the people who have applied for this card through our site have ever been approved. PenFed Platinum Cashback Rewards |
5% | No Limit |
| American Express Costco True Earnings Business | 4% | $500 |
| Top pick for fuel and food Amex Blue Cash Preferred |
3% | No Limit. Also get 3% at department stores and 6% on groceries. |
| Top pick for no-fee cards Chase Freedom |
3% average | $1,500 in bonus spending/quarter |
| Discover More | 3% average | $1,500 in bonus spending (Q1&2) |
| Gulf | 3% at Gulf | No Limit |
| US Bank FlexPerks Business Cash Rewards | 3% | No Limit |
| Citibank AT&T Universal Business Rewards | 3% | No Limit, but 100,000 total point limit per year |
| Chase Ink Cash and Classic | 2% | $25,000 in 2% bonus purchases/year |
| Amex Blue Cash Preferred | 3% | No Limit. Also get 3% at department stores and 6% on groceries. |
| Top pick, if you fill up at Costco American Express Costco True Earnings |
3% | $250 |
| Nationwide Business Platinum Visa | 3% | No Limit |
| Bank of America Cash Rewards for Business | 3% | No Limit |
| American Express Hilton Honors Surpass | 3%, based on our estimate of Hilton Honor Point Value (6 points/$1 * 0.5 cents/point) | No Limit |
| American Express Hilton Honors | 3%, based on our estimate of Hilton Honor Point Value (6 points/$1 * 0.5 cents/point) | No Limit |
| Bank Americard Cash Rewards | 3% | $1,500 per quarter limit on gas and groceries |
| Top pick for overall rewards Capital One Venture Rewards |
2% | No Limit. Earns 2% on all purchases. |
| Citi Dividend Platinum Select | 2% average | $300 in rewards/year |
| Citizens Bank Accelerator Rewards Platinum | 2% (10% for first 3 months) | No Limit |
| Amex Blue Cash Everyday | 2% | No Limit. Also get 2% at department stores and 3% on groceries. |
| Discover Business | 2% | $167 |
| Discover Business Miles | 2% | $416.67 ($5,000 per year limit on double miles for gas & travel) |
| Discover Open Road | 2% | $250 |
| Discover Student Open Road | 2% | $250 |
| AAA Rewards Card (for members not in Norther California, Nevada, or Utah) | 2% | No Limit |
| Capital One No Hassle Cash Rewards | 2% | No Limit |
| Citibank Dividend Platinum Select for College Students | 2% | No Limit, but $300 total rewards limit per year. |
| MINI Platinum | 2% | No Limit |
| Quicken Rewards Visa | 2% | $2000 per month between Gas, Grocery, Pharmacy, Office Supply |
| American Express Premier Rewards Gold | 2% | No Limit |
| United Mileage Plus | 2% (Double Miles at gas stations) | No Limit |
| Fifth Third Bank Rewards | 2% | $500 |
| Capital One Tigers LSU Credit Card | 2% (2 Points per $1 at gas stations and grocery stores) | No Limit |
| WorldPoints Business Rewards | 2% (2 Points per $1 at gas stations) | No Limit |
| Cards offered via Elancard, including: Heartland Bank Platinum Business Rewards, Comerica Bank Business Rewards, Platinum Business Rewards from ENT Credit Union | 2% | No Limit |
| Capital One Cash | 1.5% | No Limit. Earns 1.5% back on all purchases |
| Citi Hilton Honors | 1.5% (3 Points per $1 * 0.5 cents per point value) | No Limit |
| Citibank ThankYou Premier | 1.2% (1.2 ThankYou Points per $1) | No Limit, but 100,000 total point limit per year |
| First National Bank of Omaha Graphite AmEx | 2% | None |
| First National Bank of Omaha Discover | 2%, sort of | If you spend exactly $13,750, you get 2% back on everything, if not, you get less. |
| First National Bank of Omaha Maximum Rewards Platinum | 1.2% (1.25 points/$1) | No Limit |
| First National Bank of Omaha Maximum Rewards Visa Signature | 1.5% | No Limit |
It’s not just about the rewards rate
The Costco Factor
- Costco has cheap gasoline, but most gas card programs exclude wholesalers from their 2%-5% gas category reward rates, somewhere in the fine print.
- In fact, it’s probably safe to assume that the only way to get more than 1% rewards pumping gas at Costco is with the Costco True Earnings card, or the Costco True Earnings Business card. The fine print on these cards explicitly states that Costco qualifies for the bonus reward rate.
- Card issuers that explicitly ban Costco gas from their “gas reward rate” include American Express, and Citibank.
- Costco only accepts American Express.
Cheap Gas Stations, like ARCO.
- Gas stations such as ARCO in California often charge about 5%+ less than other gas stations, but only if you pay in cash. They accept debit cards at a surcharge. Clearly, you should not pump with a 5% card at Shell if you are just as happy with ARCO gas which costs ~9% less.
Diesel, Airplane Fuel, Marine Fuel, and Huge Gas Tanks
- Many cards, such as the Shell card only pay bonus gas reward rates for gasoline, not diesel fuel.
- Many cards, including Shell and PenFed Platinum Cashback Rewards don’t pay bonus gas reward rates for airplane or boat fuel.
- Many cards have restrictions on the maximum number of gallons you can pump each time (e.g. 75 gallons with the Amex Costco card), or with the maximum you can spend each time ($400 with the American Express Blue Cash card). Check the fine print first!