Fall may be known for back-to-school shopping, pumpkin spice lattes, and topical group Halloween costumes, but it’s also the best time of the year to get a good deal on a new car. As the new year’s cars come in, car salespeople are looking to unload old-model-year inventory, which can mean big savings for you. But why stop there? Keep the savings going by getting rewarded for buying gas for your new ride with these cash-back cards.
Bank of America® Cash Rewards credit card
What’s more, if you’re a Bank of America® banking customer, you’ll have the opportunity to earn a points dividend of 25%, 50% or 75% through the Preferred Rewards program. The bonus you’ll receive depends on the type of account you have and the total amount of your assets. But even if you don’t qualify for Preferred Rewards status, just having a Bank of America® checking or savings account will give you a boost: You’ll get a 10% dividend on the points you redeem into your account.
And don’t forget, it also has a signup bonus: $150 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening..
Good option for: Cardholders who hate annual fees and don’t spend much more than $10,000 per year at grocery stores, wholesale clubs and on gas combined.
Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card from American Express offers an unlimited 3% cashback at U.S. gas stations. It also offers 6% back at U.S. supermarkets (up to $6,000 in grocery spending per year — then 1%), 3% back at select department stores, and 1% back on all other purchases. The Blue Cash Preferred® Card from American Express has an annual fee, but currently has a Special Offer: $0 intro annual fee for the first year of Card Membership, then $95. It also has a foreign transaction fee of 2.7%. The ongoing APR is 13.99% - 24.99% Variable APR and there is a signup bonus: $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months. Terms Apply.
Good option for: Cardholders who use their card primarily for gas and groceries and don’t plan to use the card outside of the United States.
Updated Aug. 11, 2017.
Car lot image via Shutterstock