Popular gas credit cards – using these credit cards will accumulate your points and you can have a gas certificate
With Chase's PerfectCard MasterCard, for example, you get a 6% rebate on all gas purchases, but only for the first 90 days that the account is open. Thereafter, the gas rebate drops to 3%. Citibank's Dividend Platinum Select offers 5% cash back on gas (and on drugstore, convenience store, supermarket and utility purchases) for six months, but then it drops to 2%. Still, the card is an "editor's pick" at CardRatings.com.
A few other potential problems:
They hold the cards
Remember: Issuers can change their terms and conditions with little notice. A perfect example is MBNA's AAA credit card. The card was once extremely popular -- you got a 5% rebate on all of your gas purchases. Then the issuer realized that consumers were using it only for gas, says Curtis Arnold, president of CardRatings.com, and the plan was scaled back dramatically.
"All of a sudden, consumers got a letter in the mail," Arnold says. "Instead of getting that 5% rebate on gas, most customers now get only 2% if all they do is use the card for gasoline." If terms are changed on your card, ask the issuer if it will offer you any enticing alternatives. |