Why a Gas Credit Card Is an Underrated Credit Card for Travel

iQuanti: As the price of gallons of gas fluctuates, you may find filling up your tank costs more than it used to.

If you travel frequently, either by car or by airplane, getting a travel credit card can help you earn points or miles that you'll be able to redeem for travel or other perks. There are different types of travel credit cards, some offered by airlines, others offered by traditional credit card companies. While most travel credit cards are used for airline travel, gas credit cards can be great for those who travel via car more often.

Here is some more information about what a gas card is, and how to know if it's the right card for you.

What is a gas credit card?

Some gas cards are co-branded, which is when gas companies partner with a bank or financial institution to offer credit cards that offer unique benefits at their gas stations. Similar to store credit cards, these gas credit cards are typically only accepted at the gas station chain you got the card from and can't be used for any other purchases.

However, other gas cards offer a higher rate of rewards specifically on gas spending. These cards offer the flexibility of working at any gas station, and will also often earn rewards on other spending in addition to gas. Both types of gas cards can help you save money at the pump — co-branded cards typically offer a direct discount while general gas cards offer cashback rewards.

When is a gas credit card right for me?

If you drive a lot or travel by car, a gas credit card can be a great option due to the savings or cashback you'll earn. Not only can you earn each time you visit the pump, some cards offer additional bonus discounts for new customers.

They are also typically easier to be approved for, so they can be a great option if you are looking to build or rebuild your credit. If you can't get approved for a traditional card, a gas credit card could be a good starting point. Whatever your credit score, a gas card can help you save a little extra money even as gas prices rise.

Source: iQuanti, Inc.


Categories: Personal and Family Finances

Tags: credit cards, financial services, gas credit card, personal finance