Do you often find yourself spending a considerable amount on groceries and gas? If so, you're not alone. Groceries and gas make up a significant chunk of most millennials' budgets, and finding a way to maximize savings in these areas is undoubtedly something worth exploring. This is where the right credit card can make all the difference. With various cards offering cashback and reward points on groceries and gas, you can easily save money and make the most of your spending. In this article, we'll take a detailed look at the best credit cards for groceries and gas, helping you choose the perfect card for your needs.
Best Credit Cards For Groceries And Gas Table of Contents
Types of Credit Cards for Groceries and Gas
When searching for the best credit card for groceries and gas, it's essential to familiarize yourself with the different types of cards available. These cards typically fall under two categories:
Rewards Cards:
These cards offer rewards such as points or miles that you can redeem for various products, services, or even travel. They usually offer higher rewards for specific categories, such as groceries and gas.
Cashback Cards:
These cards offer a percentage of your purchases back in the form of cash or statement credits. Most cashback cards provide higher cashback rates on specific categories, with groceries and gas being among the most common.
Top Credit Cards for Groceries and Gas
With numerous credit card options available, finding the perfect card for you can be a bit overwhelming. We've compiled a list of the best credit cards for groceries and gas to help simplify your decision-making process:
1. American Express Blue Cash Preferred Card
- 6% cash back on US supermarket purchases (up to $6,000 per year, then 1%)
- 3% cash back at US gas stations
- 1% cash back on other purchases
- $95 annual fee (waived for the first year)
2. Bank of America Cash Rewards Credit Card
- 3% cash back in the category of your choice, including gas
- 2% cash back at grocery stores and wholesale clubs (up to $2,500 in combined spending per quarter)
- 1% cash back on everything else
- No annual fee
3. Discover it Cash Back Card
- 5% cash back on rotating quarterly categories, including groceries and gas (up to $1,500 per quarter in spending, then 1% - activation required)
- 1% cash back on all other purchases
- No annual fee
- Cashback Match: Discover matches all the cashback you've earned at the end of your first year
4. Wells Fargo Propel American Express Card
- 3x points on dining, travel, and streaming services
- 3x points on gas stations, rideshares, and transit
- 1x points on other purchases
- No annual fee
Best Credit Cards For Groceries And Gas Example:
Let's say you spend $400 per month on groceries and $100 per month on gas. If you use the American Express Blue Cash Preferred Card, you would earn $24 back on groceries (6% of $400) and $3 back on gas (3% of $100), resulting in a monthly cashback of $27. Over one year, you would earn $324 in cash back for your grocery and gas spending, even after accounting for the $95 annual fee.
Choosing the right credit card for groceries and gas can significantly impact your savings and maximize the return on your everyday spending. We hope our list of the best credit cards for groceries and gas has provided you with valuable insights and helps you make an informed decision. Don't forget to share this article with friends and family members who may also benefit from these fantastic credit card options. Explore other guides on Flik Eco to gain more insights into personal finance, investing, and other crucial topics for millennials. Your financial well-being is our top priority!
