Are you tired of spending loads of money on fuel? Looking for a way to minimize your expenses while keeping your car on the road? Look no further, because gas credit cards for average credit can be your answer! In this handy guide, we'll show you how these cards can save you money, even if your credit isn't perfect. So buckle up, and let's dive into the world of gas rewards and how they can make a difference for your wallet.
Gas Credit Cards For Average Credit Table of Contents
What are Gas Credit Cards?
Gas credit cards are specifically designed to offer rewards on fuel purchases. These cards provide cashback, points, or miles for every transaction you make at the pump. They can be a great way to save money on gas, especially if you drive frequently or have a long commute. Gas credit cards come with various perks, such as bonus rewards on groceries, dining, and other everyday expenses.
How do Gas Credit Cards for Average Credit Work?
While many credit cards require an excellent credit score to qualify, there are options available for those with average credit. Gas credit cards for average credit work similarly to any other rewards card, but they usually have lower credit score requirements. You'll still earn rewards on your gas purchases, and in some cases, you might even receive additional benefits like roadside assistance or discounts on auto-related services.
Types of Gas Credit Cards
- Brand-Specific: These cards are tied to specific gas stations like ExxonMobil or Shell and usually offer higher rewards rates on their fuel purchases. They are a good choice if you have a preferred gas station you consistently visit.
- General Rewards: These cards offer rewards for almost every transaction, but they may give you an added bonus for gas purchases. You can choose from various rewards schemes like cashback, points, or miles.
Benefits of Gas Credit Cards
Despite an average credit score, there are still various benefits to obtaining a gas credit card:
- Savings on gas: Cardholders can save on fuel expenses by earning rewards for every gallon purchased. The rewards rates generally range from 1% to 5%, depending on the card and gas station.
- Additional perks: Many gas credit cards offer extra rewards on other everyday expenses, such as groceries, dining, and travel. Plus, you may have access to benefits like extended warranty coverage, purchase protection, and discounts on car rentals.
- Build credit: By using your card responsibly and making on-time payments, you can improve your credit score over time and potentially qualify for better rewards cards in the future.
Choosing the Right Gas Credit Card for Average Credit
When selecting the right card for you, consider the following factors:
- Gas rewards rate: Look for a card that offers a higher rewards rate on gas purchases, as this will lead to more savings. While higher rewards rates are usually associated with cards requiring excellent credit, there are still options available for those with average credit.
- Annual fees: Some gas credit cards charge an annual fee, so you'll need to weigh the benefits against the costs. Ideally, the rewards you earn on gas and other perks should offset the annual fee.
- Extras: Consider additional benefits such as bonus rewards on other spending categories, sign-up bonuses, and travel perks. These can significantly increase the overall value of your gas credit card.
Gas Credit Cards For Average Credit Example:
Let's say Mary has an average credit score and drives about 30 miles to work daily. She usually spends around $150 on gas every month. She decides to apply for a gas credit card that offers 3% cashback on gas purchases with no annual fee.
Over 12 months, Mary spends $1,800 on gas. Thanks to her gas credit card, she earns $54 in cashback rewards. She also uses her card for some grocery shopping and dining, earning her another $36 in rewards. In total, Mary saves $90 in one year by using her gas credit card.
With the right gas credit card, even those with average credit can enjoy significant savings on fuel expenses. By doing your research and choosing the card that best suits your needs, you can start saving money and even improve your credit over time. If you found this guide useful, please be sure to share it with friends and family, and don't forget to explore other informative guides on Flik Eco to help you make the most of your personal finances. Happy saving!
