Best Gas Credit Cards – Rewards Card Survey Compares Top Gas Saving Options

The best gas credit cards can save you anywhere from one cent to four cents a gallon over other gas rewards cards according to a new gas card survey.

Gas Survey Details
The survey analyzed 31 different gas rewards cards and how much money each card could save you based on how much you spend on gas each month plus the total amount of purchases you put on your card monthly.  The study looked at the savings from the perspective of three different typical household profiles, determined by 2006 numbers from the Bureau of Labor Statistics.

How Much Can You Save on Gas?
The results suggest that choosing the top gas rewards card can save you anywhere from 1 – 4 cents per gallon over the worst performing gas card depending on which profile best matches your spending patterns.  Among the top five gas credit cards for each profile the savings range from half a cent to one cent apart between the different cards.  So stick with one of the top five cards, preferably the best one, and you should be okay.

Combined Purchases
Two of the profiles assume you don’t use a separate card for gas purchases.  For the first of these profiles (based on spending $1,500 per month on a single credit card – $200 of which is spent on gas) the survey lists the top five best gas rewards credit cards as:

• Blue Cash from American Express
• Chase Perfect Card
• Speedway SuperAmerica Mastercard
• American Express TrueEarnings

The last profile (assumes $3,000 a month on one credit card, $400 of which is spent on gas purchases) recommends the same top four, with the Hess Visa rounding out the number five spot. The survey also looks at the benefits you can get from card signup bonuses and breaks those down by the savings during the first year of use.

Gas Card Only
If you have a separate rewards card that you only use for gas purchases then the survey suggests you’re better off with cards issued by oil companies, the numbers assume you spend an average of $400 a month on gas and make 80% of your purchases with the same gas company:

• Speedway SuperAmerica Mastercard
• Hess Visa
• Shell Platinum Mastercard
• Chase PerfectCard
• Sinclair Platinum Mastercard

Best Gas Credit Cards
Looking back at my earlier gas credit card review, all but one of the cards I suggested show up in at least one of the top five areas.  The Chase Freedom card was not included in the survey so it wasn’t ranked at all.

One of the things I noticed looking through all the numbers was that the American Express Blue Cash card was consistently a top performer in most scenarios, which is why we use it for a majority of our purchases.  The survey also notes how sticking with one gas company can pay off, for example the BP Visa is in the top 5 for each profile.

Ben Edwards, the founder of Money Smart Life, saved up enough to buy a Nintendo back when he was 12 years old. When he used the money to buy shares of Wal-Mart stock instead, he knew he wasn't like the other kids... His addiction to personal finance has paid off for his family and now he's helping you to afford the life that you want. Check him out on the web at Google Plus, Twitter and Facebook.

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