Credit Cards

Guide to the Best Rewards Credit Cards for Gasoline

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Due to recent global current events that have brought average gas prices to record highs in the United States, consumers may be looking for credit cards that can help them earn rewards as they fill their gas tanks. Luckily, there are several options that can help them do just that. From cashback cards to travel rewards, there are many gas rewards cards to choose from — including both annual fee and non-annual fee options.

With that in mind, let’s take a look at some of the best credit cards for earning at the pump:

US Bank Altitude Connect

• Gas rewards: 4x points on gas purchases
• Current welcome bonus: 50,000 points after spending $2,000 in purchases on the card in the first 120 days
• Annual fee: $0 for the first year, $95 a year after that

We start our list off with a relatively new card option: the US Bank Altitude Connect. Headlining this card’s rewards, it earns 4 points per dollar spent at gas stations (plus EV charging stations) as well as 4x points on travel purchases. On top of that, it also earns 2x points at grocery stores, 2x points on dining, 2x points on select streaming service purchases, and 1x points on all other purchases among other perks.

With the Altitude Connect card only recently making its debut, new cardholders can also enjoy a healthy welcome bonus. Currently, cardholders can score 50,000 points (equal to $500 in rewards) when they spend $2,000 in purchases on the card within their first 120 days. Plus, while the Altitude Connect does carry a $95 annual fee, this is waived for the first year.

Citi Premier Card

• Gas rewards: 3x points at gas stations
• Current welcome bonus: 60,000 ThankYou points after spending $4,000 in purchases on the card in the first three months
• Annual fee: $95

Another card that features gas among its multiplier categories is the Citi Premier Card. Not only does this card earn 3x ThankYou points at gas stations but also earns 3x at restaurants, at supermarkets, on hotel purchases, and on air travel purchases. Plus, it earns 1x points on all other purchases and offers an annual hotel savings benefit, allowing cardholders to save $100 on hotel stays of $500 or more via ​​ThankYou.com once per year. This $100 perk can help offset the card’s $95 annual fee, which is not waived for the first year.

Meanwhile, the Citi Premier card is also offering a lucrative welcome bonus. At this time, new cardholders can earn 60,000 bonus ThankYou points after they spend $4,000 in purchases on the card in their first three months. This amounts to $600 in gift cards when points are redeemed through the ThankYou.com portal. In all, this makes the Citi Premier a strong option for those looking to earn on their gas purchases and on their future travels.

Chase Freedom Flex

• Gas rewards: 5% cash back on gas station purchases on up to $6,000 spent in the first year
• Current welcome bonus:  $200 back after spending $500 in purchases within three months + 5% cash back on gas station purchases on up to $6,000 spent in the first year (found on Chase.com)
• Annual fee: $0

A couple of years back, Chase revamped its famed Freedom card, renaming it the Freedom Flex card. In addition to earning 5% back on travel bookings made through Chase’s Ultimate Rewards platform, 3% back on dining, 3% back at drugstores, and 1% back on all other purchases, the card offers quarterly bonus categories that allow cardholders to earn 5% back (up to $1,500 in spend per quarter). While we don’t have the full category calendar for 2022, last year’s Q2 category did include gas — so the category could appear sometime this year. In the meantime, however, Chase has unveiled a special welcome bonus.

Chase Freedom Flex’s welcome bonus already had one of the best “spend-to-reward” ratios as cardholders could earn $200 back when they spend just $500 in purchases on the card within their first three months. Now, as found on Chase.com, they’ve added to this by allowing new cardholders to earn 5% cash back on gas station purchases during their first year. This perk is capped at $6,000 in spend, amounting to a total cashback benefit of $300 if you max it out. Thus, between this bonus and potential quarterly 5% categories in the future, it could be a good option for those looking to save at the pump.

Blue Cash Preferred Card from American Express

• Gas rewards: 3% cashback at U.S. gas stations
• Current welcome bonus: $300 statement credit after spending $3,000 in purchases within the first 6 months
• Annual fee: $0 introductory annual fee for one year, then $95

Next up is the Blue Cash Preferred Card from American Express. This card can help at the pump by offering 3% back on purchases at U.S. gas stations. However, the big selling point of the Blue Cash Preferred has to be the 6% cashback it earns at U.S. supermarkets (up to $6,000 in annual category spending) as well as the 6% back it offers on select U.S. streaming service subscriptions. Elsewhere, the card also earns 3% back on transit purchases such as taxis, rideshares, parking, tolls, trains, buses, and more.

When it comes to welcome bonuses, the Blue Cash Preferred’s is pretty fair. Currently, new cardholders can earn a $300 statement credit after spending $3,000 in purchases on their new card within the first 6 months. Finally, while the card does have a $95 annual fee, this is currently waived for the first year.

Bank of America Customized Cash Rewards

• Gas rewards: 3% back (when gas is selected as rewards category and limited to $2,500 in combined category spend per quarter)
• Current welcome bonus: $200 in rewards after spending $1,000 in purchases in the first three months
• Annual fee: $0

One interesting option for earning on gas purchases is the Bank of America Customized Cash Rewards card. That’s because the card allows customers to choose what they want to earn 3% back on, with available choices including online shopping, drug stores, home improvement & furnishings, dining, travel, or (of course) gas. Regardless of what you choose, you’ll also earn 2% back at grocery stores and wholesale clubs. However, these rewards multipliers only apply to the first $2,500 in combined spending across your selected category, grocery stores, and wholesale club purchases per quarter. Purchases over this limit will earn 1% cash back — as will any non-category purchases you make with the card.

Currently, new Bank of America Customized Cash Rewards cardholders can also earn $200 in rewards when they spend $1,000 in their first three months. What’s more, Preferred Rewards members can earn between 25% and 75% more in cash back on their purchases. Therefore, especially for these consumers, the Customized Cash Rewards card could be a smart choice.

With gasoline being an essential expense for many Americans, it’s no wonder that the category is one that many credit card issuers offer elevated rewards on. As a result, consumers have their pick of several great options. However, the choice will likely come down to the other perks, benefits, and rewards each card offers — from other multiplier categories to current welcome offers and beyond. Therefore, if you’re considering one or several of these cards, be sure that your final choice fits your current and future spending plans and helps you maximize your rewards earnings.

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Also published on Medium.

Other Articles by Kyle Burbank