The Speedy Rewards Mastercard doesn't work like typical co-branded gas station cards do. Rather than solely offering cents-off-per-gallon benefits, it rewards holders in the form of points that can be redeemed with Speedway, among other options.
But those points are worth well below industry standards, and it's certainly not a card you'll want to carry a balance on.
Those looking to save money on fill-ups will likely get more value from a general rewards credit card that incentivizes spending not just on gas, but also on other high-spend categories like groceries.
Here’s what you need to know about the Speedy Rewards Mastercard, issued by First National Bank of Omaha.
1. Location, location, location
Speedway has a sizable national footprint, but it’s not comprehensive. As of this writing, Speedway has slightly fewer than 4,000 locations in 36 states across the U.S.
If you don’t live in or frequently commute to one of those states, it probably won’t make sense to get the Speedway card.
» MORE: How to choose a gas credit card
2. Credit card rewards stack on top of Speedway’s loyalty program
The Speedway credit card is an "open-loop" product, meaning it can be used anywhere Mastercard is accepted. All purchases earn points, but you’ll receive the most rewards at Speedway stores. The card earns:
- Unlimited 50 Points per $1 spent at Speedway on fuel and in-store.
- Unlimited 10 Points per $1 spent on other purchases.
In order to earn points with the Speedway card, you’ll need to enroll in the Speedy Rewards loyalty program. Independent of the credit card, Speedy Rewards members earn 10 points per gallon and 20 points per $1 spent on merchandise inside the gas station. But points earned from the Speedy Rewards program stack on top of the rewards rate from the Speedway credit card.
Speedy Rewards points expire after nine months of account inactivity, which is not ideal. Plenty of general-purpose credit cards (those not bearing a specific merchant brand on them) earn rewards that never expire.
3. Fees are a mixed bag
There’s good and bad news when it comes to fees associated with the Speedway card. It doesn’t have annual or monthly fees, and there’s no penalty APR if you’re late on your credit card payment.
However, the card’s regular ongoing interest rate was nearly 31% as of March 2025, which will be incurred on any unpaid balances.
4. There’s a welcome bonus
New Speedway cardholders can get 25,000 Speedy Rewards points after spending at least $500 in the first three billing cycles after account opening. That’s a fair amount of points, especially considering that welcome bonuses are quite rare among cards in this class.
Unfortunately, though, Speedway points aren't worth much. Redemption values vary, but in general, one Speedy Rewards point is worth a fraction of a penny. (More on redemption options in section five)
5. Low point values make redemption options unappealing
The Speedway card comes with a broad menu of redemption options, including Speedway food, merchandise and gift cards, plus $25 Amazon and Lowe’s gift cards. You can also redeem points for a 25-cent discount for each gallon of Speedway fuel you purchase. But point values vary depending on the item, and some redemption options are better than others.
For example, 1,250 points can generally get you Speedway food items like any size fountain drink, Speedy Cafe large pizza, any size coffee, cappuccino or hot specialty beverage.
But to get a $10 Speedy Cash gift card to use on Speedway fuel and merchandise, you’ll need 10,450 points. That's a point value of 0.00096 cent each.
A general rewards card can offer more value and flexibility in terms of earnings and redemptions. For example, the Wells Fargo Autograph® Card earns an unlimited 3 points per $1 at gas stations and EV stations, among other bonus categories. One point is worth 1 cent and can be redeemed for travel, gift cards or statement credits, and even transferred to one of Wells Fargo’s travel partners.
