Are you tired of getting declined for gas cards due to poor credit? Frustrated about not being able to save on fuel expenses because your credit score is holding you back? Look no further! We at Flik Eco have analyzed the options and researched the best gas cards for poor credit. In this article, we're breaking down the complex world of credit cards and fuel rewards to help you find the perfect gas card for your unique situation.
Gas Cards For Poor Credit Table of Contents
Understanding Gas Cards and Poor Credit
Gas cards are a type of credit card specifically designed to offer rewards and discounts on fuel purchases. These cards generally come in two varieties: cards issued by gas station chains, and general-purpose cards that offer rewards on gas purchases.
Having poor credit can make it more challenging to get approved for a gas card. However, there are options available for those with less than perfect credit. Here, we'll explore some of the best gas cards for poor credit, along with tips on how to improve your chances of getting approved.
Secured Credit Cards
If you're struggling to get approved for a gas card due to poor credit, a secured credit card might be your best bet. Secured cards require a security deposit, which acts as collateral and lowers the risk for the issuer. As a result, secured cards typically have more lenient approval requirements, making them a solid option for those with poor credit.
Gas Station-Branded Cards
Gas station-branded cards are often easier to qualify for than general rewards cards. These cards are usually issued by specific gas station chains, and the rewards are focused on purchases made at their locations.
General Rewards Cards
While most high-earning gas rewards cards require good or excellent credit, there are some general rewards cards that offer gas rewards and are more accessible to those with poor credit. Keep in mind that these cards may have lower rewards rates and fewer perks compared to more premium options.
Best Gas Cards for Poor Credit
Now that we have a better understanding of the different types of gas cards available, let's dive into our top picks for the best gas cards for those with poor credit:
- Discover it® Secured: This secured card offers 2% cashback on gas station purchases, up to a quarterly maximum, and 1% cashback on all other purchases. The minimum security deposit is $200 and Discover will review your account for a potential upgrade to an unsecured card after eight months.
- Shell Fuel Rewards® Credit Card: With this gas station-branded card, you'll receive 10 cents off per gallon (up to 20 gallons) for every $50 spent on qualifying purchases at Shell locations. The card does not require a security deposit and has no annual fee.
- Credit One Bank® Platinum Visa® for Rebuilding Credit: As a general rewards card, it offers 1% cashback on eligible gas and grocery purchases. It also includes helpful credit-building features, such as online access to your Experian credit score and automatic account reviews for potential credit line increases.
Gas Cards For Poor Credit Example:
Imagine you have a credit score of 580 and are struggling to find a gas card that will approve your application. You decide to apply for the Shell Fuel Rewards® Credit Card, and upon approval, you start using it for all your fuel purchases at Shell gas stations. For every $50 you spend, you save 10 cents per gallon on your next fill-up. Over time, your savings add up, helping offset the cost of fuel and making your driving more affordable.
Don't let poor credit keep you from saving on fuel expenses. Armed with the knowledge gained from this article, you can confidently explore your options for gas cards that cater to your unique credit situation. Remember, the best way to improve your chances of getting approved is to focus on building your credit through responsible use. So why wait? Start exploring your options and apply for the gas card that works best for you. As always, feel free to share this guide with friends and family, and don't forget to explore other articles on Flik Eco for more personal finance and investing tips.
