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Do gas credit card deals really help save?
It has been estimated that last year credit card companies successfully made 14 million credit card deals for gas credit cards and the demand for this reward category credit cards isn't likely to subside. Among other reward credit cards, such as hotel credit cards, airline miles credit cards or credit cards with cash back, gasoline cards are starting to dominate and not without reason.
Car owners are growing in numbers and gas prices together with them. The fact becomes the key point in credit card choice among credit consumers looking for best credit card deal online. Gas credit cards online are presented in such an enticing manner that you find it almost irresistible to apply.
Lots of people apply but few know the real cost. Luckily, thanks to people writing to our site, we can share with you some puzzling instances of gas credit card usage.
Brian, a middle manager, who wished to keep back his second name, reveals his experience of possessing a gasoline credit card and some of the points are really worth your attention if you are a sensible and precautious credit consumer.
Brian expected to make the best ever credit card deal, the one offering a 5% rebate to save on gasoline, and so preserve family budget which had evidently shaken as a result of incredibly high costs of gas. As a matter of fact, he applied for the card only to pay for gas with it and imagine what a blow he got when discovered that the rebate suddenly dropped to 2% only!
And that's a frequent policy of credit card issuers - to withdraw incentives or to raise rates or fees to get their share. Just as in this case, Brian used his credit card for gas purchases only, ignoring all others, and that irritated the card issuer as it deprived them of earnings. So, applying for a gas credit card, beware of the creditor's freedom to change terms and conditions with hardly notifying you of that.
Another instance of disillusionment with a gas credit card occurred to Miranda, an experienced credit consumer, who fulfilled her credit obligations perfectly and earnestly devoted herself to earning rebates. No, the fees and rates, as well as the incentive itself remained but she failed to find the rebated money in credit account with her Discover credit card!
This sort of mess is not infrequent with Citibank and Discover, and if you are using their credit cards for gas rebates, you should see to it that the money is transferred to your account as these banks do not provide for the automation of the process. And you are often the last to know about that!
Some customers do know about such feature but they are sometimes too late to make a request for the money transfer or a check. For example, with some of Citi's credit card deals you have only 12 months to redeem the rebates or they will expire.
Other gas credit card consumers also complain that it is sort of crippling that they cannot get full rebates just at every gas station. No wholesale club will give you a 5% rebate, no matter how appealing it may be to fill up there. For full rebates, a standalone station is the right place to go.
Brian and Miranda have tested these drawbacks of gas credit card deal, but they are not going to close their accounts as they are sure gas credit cards can really be beneficial, provided you accept the terms and know how to make them work for you.
They say: "If you understand and accept the difference between the surface incentives - save your money on gas purchases whenever, wherever! - and the fine print content and if you know how to correlate them, a gas credit card deal will be your best credit card deal".
Well, it's up for you to apply but remember, the best deal is the deal profitable both for you and your creditor. Think, decide and act as a prudent and skillful credit consumer and you're sure to save a sum!
