So you are considering the idea of applying for a gas station credit card. Figuring that it will allow you to easily get a better handle on fuel expenses for each month, there are also added perks like receiving cash back with every purchase. In this article, I will provide you with the facts so you are in a stronger position to make a wise choice and end up putting money back into your pocket, rather than back into the bank accounts of big oil.

Prepaid gas cards-

My dad used to have an expression that he was fond of. “If you need to use a credit card, then you do not need to buy it.” Depending on the health of your financial situation, I believe this to certainly be true. For many people out there, looking for creative ways to get free prepaid gas cards is not only possible, it is simply smart economics. Not only that, but going with prepaid gas cards also means you have a better shot of avoiding gas station identity theft as well.

Just use cash- 

Believe it or not, a growing number of gas stations will give you an instant discount for simply using cash in lieu of a credit card at the pump? Savings can be up to 5% in some cases, depending on where you live.

Gas Station Credit Cards-

When used with responsibility, you can actually make this form of payment work out rather well for you. When possible, consider using gas rebate credit cards. With this type of gas card, you can often save up to 3-6% cash back on card purchases. On the flip side there are some important tips to remember when considering this type of card.

• Be aware that the gas credit card issuer runs the show. It is not at all unusual to find that the great 5% cash back falls to something like 1-3% after a set number of months.
• Considering the point above, look for a card without a yearly fee if possible. This way if you are paying off the card each month, you are still getting “something back”, even if the cash back rate does fall back after the introductory period.
• Never carry a balance. Once you do, any benefit of a gas rebate credit card goes up in flames very quickly.