Which gas cards stack upIf you want to turn a conversation ugly these days, just mention gas prices: Everybody's ticked.

But a just-released list of the best gas credit cards from the website CardHub.com offers a consumers a savings strategy that might temper their ire a bit, and none too soon, because according to U.S. Energy Information Administration projections, regular gas will average $3.86 this summer, up 40% from last summer. Given this, the EIA estimates that the average American family will spend about $825 more on vehicle fuel in 2011 than it did in 2010.

But for every pain there is a pill, and in this case, it might be signing up for a gas station credit card. Cards tied to particular chains provide savings of up to 5%.

Among the best cards according to CardHub are:
  • Shell credit card (RDS.A): 5% rebate on gas purchases made at Shell stations
  • BP credit card (BP): 5% rebate on gas purchases made at BP stations;
  • Exxon Mobil credit card (XOM): 15 cents per gallon rebate on gas purchases made at Exxon Mobil stations (amounts to 3.75% off on a $4 gallon).
Some general cash-back credit cards also offer particularly high reward rates on gas purchases, in addition to generous rewards on all other purchases. CardHub.com recommends:
  • Blue Cash Preferred from American Express (AXP): 3% back on gas purchased anywhere. $75 annual fee;
  • TrueEarnings Card from Costco (COST) and American Express: 3% back on gas purchased anywhere, up to $3,000 in annual gas purchases, 1% thereafter. No annual fee for Costco members;
  • Capital One (COF) No Hassle Cash Rewards: 2% cash back on gas purchases made anywhere. No annual fee.
While financial experts often advise avoiding credit cards at all costs, some can see the case for making an exception when it comes to filling your tank. "Gas is one of the biggest household expenses, so you are getting an effective 2% to 5% discount on purchases you already make," says Odysseas Papadimitriou, CEO of CardHub.

Obviously, of course, that's not to suggest that you should get wild and crazy with these cards. "Be sure that if you get a gas-station-specific card that it is to a gas station you already use frequently," says Papadimitriou. "It is not likely you will change your habits if you don't use a specific chain already, and that would make the card essentially useless."

Don't go close to your credit line, he cautions, and, as with all credit cards, be sure to pay your balance in full every month: Paying interest on your gas credit card will quickly cancel out any savings you get from the discounts.

Lastly, look too for cards with no annual fees. Though the AmEx Blue Cash Preferred has an annual fee of $75, which is obviously higher than the other cards recommended by CardHub, it's not an unusually high fee, adds Papadimitriou.

While the creative use of credit cards will by no means eliminate your gas woes, it's a far simpler than less drastic step than not driving or shelling out big bucks for a more fuel-efficient car. And every little bit helps.

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racurrry

Top oil company CEOs can get up to $100,000,000.00 a year in bonuses ! Greedy bastards are strangling America. The government should take the oil companies out of their monopolistic hands.

May 12 2011 at 6:24 PM Report abuse rate up rate down Reply
1 reply to racurrry's comment
Jennie

If they can give rebates on gas why don't they put gas down so every one can have it????????? The reason I say that is not every one can get one of their credit cards I know because I tried an because I have a low income I can't get their cards. So bring the gas down PLEASE LORD SO WE CAN ALL INJOY OUR LIFE!!!!!!!!!!!!!!!!!!!!

May 12 2011 at 1:08 PM Report abuse +1 rate up rate down Reply
1 reply to Jennie's comment
thagrus

jennie we all are not going to be able to enjoy life until our law makers stand up for us the people. The special interests groups have more influence than the ballot box so it seems

May 12 2011 at 1:11 PM Report abuse rate up rate down Reply
thagrus

Here we go again republicans blaming democrats and democrats blaming republicans..Both parties like this as when this happens no one is guilty. WAKE UP and kick the bums out the next election regardless of party.

May 12 2011 at 1:02 PM Report abuse +1 rate up rate down Reply
evd10

A lot of posters here seem unable to grap a concept that a middle schooler shouldn't have a problem with. When you pay off your credit card on-time, monthly there is no interest or fees, nor is there any debt. I've used credit cars for 40 years and I can't remember ever paying a dime in interest. Although the cash-back only amounts to a few hundred a year for me, it's better in my pocket than in theirs.

May 12 2011 at 12:10 PM Report abuse +2 rate up rate down Reply
Terry and Mandy

Prices for gasoline are not determined by the individual gas stations. The prices are determined by the refineries. All of the major brand gas companies send their tanker trucks to the same local refinery to fill up. You get the same gas at Shell, Union 76, Valero, etc. It all comes from the same refinery. That is why the price doesn't come down when the price of oil drops. The refineries keep the price high so the gasoline speculators don't lose any money on their future purchases. Stop blaming the station owners and direct your complaints directly to the local refineries.

May 12 2011 at 11:35 AM Report abuse rate up rate down Reply
2 replies to Terry and Mandy's comment
Paul

Actually, the local prices are determined by the distributors. In my home town, the gas is 4 to10 cents cheaper than the neighboring town that has a different distributor.

May 12 2011 at 12:04 PM Report abuse rate up rate down Reply
thagrus

oil refineries are kept at a small number thereby limiting production which in turn controls pricing

May 12 2011 at 1:06 PM Report abuse +1 rate up rate down Reply
tim323

I use a credit card for every thing. The one I use for gas gives me 5% cash back on gas and grocery store purchases, I use another that pays 3% back on restaurants, hotels, office supply, and Home Improvement Stores and both cards pay 1% back on every thing else. I save the points and cash them in at Xmas. Last Xmas I got $2,000.00 cash back which covered my Xmas shopping and left me some for myself. I pay the cards off every month and have never paid a penny in interest or fees. And no, I am not in debt, I do not owe a penny to any one, and in fact retired at 50!

May 12 2011 at 11:17 AM Report abuse +2 rate up rate down Reply
1 reply to tim323's comment
thagrus

tim you da man......................maybe others should spend some time also to research things out

May 12 2011 at 11:22 AM Report abuse +2 rate up rate down Reply
thagrus

pentagon federal gives 5 percent back at the pump and 1 percent back on everything else. gas goes to 4.oo per gallon thats .20 cents back cant beat that.

May 12 2011 at 11:13 AM Report abuse +1 rate up rate down Reply
bravo8222

What a stupid idea! Use a credit card to pay for gas! This is the dumbest articale i have read on this site...

May 12 2011 at 10:32 AM Report abuse -1 rate up rate down Reply
David

It doesn't ease anything, you still have to pay the bill!!!!!!

May 12 2011 at 9:50 AM Report abuse +2 rate up rate down Reply
1 reply to David's comment
caohellsux1978

Here is a better way to ease pain at the pump. BOYCOTT EXXON/MOBIL NOW THROUGH JULY 4TH. THEY ARE THE BIGGES OF THE BIG AND THE MOST ARROGANT OF THE ARROGANT. DONT SIT IDLY BY AND WAIT FOR YOUR GOVT, AND SPECIAL CONGRESSIONAL COMMITTEES TO SCOLD THEM (WINK,WINK) IF WE CAN CUT THEIR PROFITS, THEIR PRICES WILL COME DOWN. IF THEIR PRICES COME DOWN, THE OTHERS WILL HAVE TO FOLLOW SUIT. KEEP THIS IN MIND WHEN WANTING TO BLAME OPEC. THEY STATED 6 MONTHS AGO THEY WERE HAPPY WITH OIL AT 70.00 PER BARREL. ALSO KEEP IN MIND THAT EXXON/MOBIL PROFITTED, YES PROFITTED 4 BILLION DOLLARS IN THE FIRST QUARTER. AND EXXON/MOBIL IS MAKING HUGE PROFITS ON GASOLINE, AND ALSO ON CRUDE. SO A LITTLE LESS BLAME ON OPEC, AND A LITTLE MORE ATTENTION ON THE GOOD OLE AMERICAN COMPANIES FLEECING US. AND THE WALL STREET MACHINE "SPECULATING" US INTO POVERTY.

May 12 2011 at 8:33 AM Report abuse -2 rate up rate down Reply
1 reply to caohellsux1978's comment
evd10

"BOYCOTT EXXON/MOBIL"...Does anyone still really believe such garbage? Gasoline is fungible (look it up in your Funk and Wagnalls). The only way to reduce the price of gasoline is actually use less rather than just buy the same amount somewhere else.

May 12 2011 at 12:40 PM Report abuse rate up rate down Reply