Advice For Choosing A Gas Rebate Credit Card
June 27th, 2009 | 
Author: Advice For Choosing A Gas Rebate Credit Card
Searching for a way to curb the surging price of gasoline? You can cut back as Americans did in the ’70s discoera by driving at 55 mph the speed recommended by most experts avoiding fast starts and such. You can also try different modes of transportation such as a mass transit a hybrid car a motorcycle or even a bicycle. These tactics will reduce the amount of fuel you use but not the price. For that you may consider choosing a gas rebate credit card that effectively reduces the price itself. The choices include general rebate cards which offer flatrate rewards on all purchases to cards that give bigger discounts for fuel purchases.
Unfortunately choosing a gas rebate credit card has its pitfalls. Never underestimate a credit card company’s ability to overpromise and underdeliver. Many alluring rebate offers are only good for a few months before dropping to much lower levels.
Companies also can and have changed the terms to cardholders with little notice. People have been known to get letters telling them that the rebate rate on their card has been sharply reduced thus destroying the benefit that lured them to start with.
So is choosing a gas rebate credit card worth the hassle? Despite the fickle nature of credit card companies any rebate is still better than no rebate. And rebates can range from 3 to 10 cash back on gasoline station purchases. These amounts add up speedily. The payout strategies may vary from a direct refund to your current balance the most obvious choice to discounts on other purchases account credits and gift cards. In the worst case circumstance you may have to cancel the old card and apply for another one.
Tips for choosing a gas rebate credit card
1. Read the fine print but also ask the questions.Often they will tell you that the answer to your question is in the fine print embedded where you couldn’t find it.
2. Make sure you know what deal you are really getting.Ask the credit card company to clarify the introductory rebate rate vs. the normal rebate rate. They may promote a great rate without stating it is only temporary.
3. Ask if there is a monthly purchase limit.Too keep rebates in check some companies may spending cap the rebate to something like the first 100 in purchases per month. Meanwhile cards issued by the oil companies may require you to buy gasoline from them to get the big discount.
4. Above all ask how you collect the rebate.Some companies like to be unclear on this important point. Make sure you get this straight after all it’s the reason for getting the card in the first place.
About the writer: J.S. Yoon writes articles about a variety of personal finance issues. He has over 17 years journalism experience working at several major U.S. newspapers. He is the webmaster of the the credit card comparison site http://www.nuthinbutcreditcards.com
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