What to Look For in a Gas Card By Loren Yadeski At Isnare.com Ezine Articles

With the current rapid increase on gas prices, saving on gas is important. A sure way to save on gas is by using gas credit cards. However, if your card doesn’t have the right features, then your savings will not be a considerable amount. Cards have different rewards and differ in rebates and annual fees. So before you go out and get a gas card, it is important to know what to look for in a gas card. Below are the important things to look for in a gas card.

Rewards or Rebates
You get your savings in using gas cards from rebates or rewards. This is why gas credit cards are also called gas rebate cards. In choosing cards, rank them according to rebate rates and choose the one that offers the highest rate. Rates usually range from 2% to 5%. You may also want to check on the form of rebates, some cards offer cash back while other offers rebates that can be used for airline tickets, merchandise or gif certificates. A cash back rebate is preferable since you can use it to purchase gas, grocery items and other equally important items. Other than the form of rebate, you should also check the cards policy in redeeming rebates. What good is a rebate if you can’t redeem it? Be particular with expiration dates, automatic or request for rebates and rebate caps.

Introductory Rates
Some cards offer introductory rates that reach up to a 10% high for a period of six to nine months. This is quite an offer compared to the regular 5% rebate, however, remember that introductory rates are offered to sweeten a card-a marketing strategy and can sometimes be deceiving. Some cards offer higher introductory rates but offer lesser regular rates than most cards. While introductory rates are good offers, do the math and compare introductory rates and the regular rates you’ll get in the long-term.

Annual Fee
The annual fee is the fee of holding or owning the card. Most cards don’t have annual fees so it would be best to go with these kinds of cards. If you do choose one that requires an annual fee, compare fees and benefits. Make sure the benefits cancel out this fee and choose a card with the lowest annual fee.

Annual Percentage Rate (APR)
The annual percentage rate or APR is the interest charged on your card’s maintaining balance. To max up your savings in using gas credit cards, pay your bill in full. However, if you do decide to maintain a balance in your card, the APR should be minimal and it should not negate the savings that you accumulate. Whether you decide to maintain a balance on your card or not, choose a card that has the lowest APR yet offers a high or reasonable rebate rate. The APR and rebate rate should go side by side in evaluating cards since they negate each other.

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