Best Credit Cards for Electric Vehicle Owners

While your electric vehicle spares you from spending at the pump, let one or more of these credit cards help you save on charging and repair costs.
Sep 9, 2022

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In response to electric vehicles’ growing popularity, credit card issuers have begun offering rewards at charging stations, which are often equal to what you’d get for filling up on gas.

It’s likely that the number of EVs on American roads will continue to increase due to recent policy measures. California plans to ban the sale of new gas-powered cars by 2035, and other states are expected to follow suit. Moreover, the Inflation Reduction Act that was signed into law in August 2022 includes a tax credit of up to $7,500 for buying an EV.

Recent laws — not to mention gas prices — may have you thinking about buying an EV. If you decide to get one, or if you already have one, consider accessorizing your new car with one of these credit cards. They can save you money at the charging station, the repair shop and even on your power bill at home.

Top credit cards for electric vehicle owners

U.S. Bank Altitude® Connect Visa Signature® Card

U.S. Bank Altitude® Connect Visa Signature® Card
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Annual fee: $0 intro for the first year, then $95.

Sign-up bonus: Earn 50,000 bonus points when you spend $2,000 in eligible purchases within the first 120 days of account opening. That's a $500 value redeemable towards travel, gift cards, cash back, merchandise and more.

Rewards:

  • 5 points per $1 spent on prepaid hotels and car rentals booked through the Altitude Rewards Center.

  • 4 points per $1 spent on travel, gas stations and EV charging stations.

  • 2 points per $1 spent at grocery stores (including grocery delivery), dining and on eligible streaming services.

  • 1 point per $1 spent on all other eligible purchases.

Why we like it for electric vehicles:

The 4x rewards rate at EV charging stations is one of the best on the market. Points earned on the card are worth the industry standard of a penny each and can be redeemed for cash back, travel and more.

PenFed Platinum Rewards Visa Signature® Card

Pentagon Federal Credit Union Platinum Rewards Visa Signature Credit Card
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Annual fee: $0.

Sign-up bonus: 15,000 points after $1,500 spend during first 3 months of card open date.

Rewards:

  • 5 points per $1 spent on gas at the pump and EV charging stations.

  • 3 points per $1 spent on supermarket purchases (including most Target and Walmart locations), restaurants and dining, plus TV, radio, cable and streaming services.

  • 1 point per $1 on all other purchases.

Why we like it for electric vehicles:

Five points per $1 spent at EV stations is the highest rewards rate among the credit cards on this list, but there are a few catches. First, you'll have to be a PenFed Credit Union member to get this card, which isn't difficult but does require extra steps. Second, point values are variable depending on what you redeem them for, and cash back isn't an option. Travel and gift cards are, however.

Upgrade Triple Cash Rewards Visa®

Upgrade Triple Cash Rewards Visa
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Annual fee: $0.

Sign-up bonus: None.

Rewards: 

  • Earn 3% cash back on home, auto and health purchases.

  • Earn 1% cash back on everything else.

Why we like it for electric vehicles:

This card is a solid option for EV owners on account of its 3% rewards rate on auto purchases, which includes merchants like car repair shops. Batteries for electric vehicles are notoriously expensive: On average, they cost $5,500, but they can be as much as $20,000, depending on the make of the car. Labor costs also may be higher for EVs because they require technicians who specialize in EV repairs. Cash back earned with the Upgrade Triple Cash Rewards Visa® is typically applied as a statement credit, making it easy to knock off a few bucks from the auto repair bill.

Chase Freedom Unlimited®

Chase Freedom Unlimited Credit Card
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Annual fee: $0.

Sign-up bonus: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!

Rewards:

  • 5% back on travel purchased through Chase Ultimate Rewards®.

  • 3% back at restaurants, including takeout and eligible delivery services.

  • 3% back on drugstore purchases.

  • Through March 31, 2025, 5% back on qualifying Lyft services purchased through the Lyft app.

  • 1.5% cash back on everything else.

Why we like it for electric vehicles:

Installing a home charging station is a way to ensure that your EV always has enough juice, especially if you live in an area with limited public chargers. However, estimates for equipment and installation costs run between $500 to $4,500, and you can expect it to be on the higher end of that range if you want faster charging capabilities. If you don’t have the funds to pay outright for a home charger, the Chase Freedom Unlimited® can help you finance one. The card offers a 0% intro APR for 15 months on purchases and balance transfers, and then the ongoing APR of 17.24%-25.99% Variable APR. You can find cards with longer 0% intro APR offers, but you'd be hard-pressed to find another card that also offers such excellent ongoing rewards.

U.S. Bank Cash+® Visa Signature® Card

U.S. Bank Cash+® Visa Signature® Credit Card
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Annual fee: $0.

Sign-up bonus: $200 bonus after spending $1,000 in eligible purchases within the first 120 days of account opening.

Rewards:

  • 5% cash back on the first $2,000 in combined eligible net purchases each quarter in two categories that you choose (from a list of 12).

  • 2% back in one "everyday" category that you choose (from a shorter list).

  • 5% back on prepaid air, hotel and car reservations booked directly in U.S. Bank's Rewards Travel Center.

  • 1% back on all other eligible net purchases.

Why we like it for electric vehicles:

This is a high-maintenance card that will pay off for EV owners in ways that other cards may not, if you have the will to manage it. For starters, "home utilities" is an eligible 5% category, meaning you can earn that high rewards rate on your power bill — which will probably be a bit higher if you’re charging an EV at home. Plus, "gas and EV charging stations" are a possible 2% everyday category, and unlike the 5% categories, there's no cap on those "everyday" rewards. Note that you must opt in to both the 5% and 2% categories every quarter. If not, you'll earn just 1% back everywhere.

Wells Fargo Autograph℠ Card

Wells Fargo Autograph℠ Credit Card
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Annual fee: $0.

Sign-up bonus: Earn 30,000 bonus points when you spend $1,500 in purchases in the first 3 months.

Rewards:

Earn unlimited 3 points per $1 spent on:

  • Restaurants.

  • Travel and transit.

  • Gas and electric vehicle charging stations.

  • Popular streaming services.

  • Landline and cell phone plans.

Plus, 1 point per $1 spent on all other purchases.

Why we like it for electric vehicles:

Aside from the rewards it earns at EV stations, the Wells Fargo Autograph℠ Card could be the cure for range anxiety, or the fear that an EV car will run out of charge before you can make it to another charging station. Cardholders have 24/7 access to Roadside Dispatch, which will arrange for a tow, a jump or tire change, among many other services. While there is no limit to the number of times you can call on Roadside Dispatch, you will have to pay for each use. If you have a premium travel card like Chase Sapphire Reserve®, roadside assistance is covered up to $50 per call, up to four times a year, but that card's annual fee is $550. Meanwhile, the annual fee for the Wells Fargo Autograph℠ Card is $0.

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