Many credit cards these days have a reward program. People generally choose a reward program with their credit card if they are going to be able to make use of the reward. It is fantastic to be able to earn points towards filling up, each time you use your card. With gas reward cards, you can earn points so that when you fill your tank, you end up paying less. With the way the markets are and how crude oil fluctuates, most people will benefit from this type of reward program.
Some of the cards on offer tend to have a fairly high APR (annual percentage rate), but there are cards available that offer a 0% interest introductory period. For example, the Capital One® No Hassle Miles(SM) Rewards For Travel & Gas card (available as a visa card). It has 0% interest on purchases until October 2009 and thereafter 9,90%. But, beware it has 22,9% interest on cash advances. reward card printing
It is always important to read the fine print (the terms and conditions) before choosing a specific gas reward card. Some of the credit card companies allow you to fill up at specific gas retailers, while others allow you to choose where to fill up. You have to decide what is more convenient for you. For example, if you travel out of state quite often there may not always be the specific retailer for you to fill up at. In this case, you’d be better off with a reward program you can use at any gas retailer. The Capital One® No Hassle Miles(SM) Rewards For Travel & Gas card allows you to earn up to 3 miles per dollar spent on travel and gas, and 1 mile for all other purchases. Many other cards offer only 1 mile.
Something to check out as well is that some cards offer you bonus miles just for being issued with a specific card. That is great! It would also be advisable to look for a card that offers you no annual card fee. Some cards charge you up to $29 per year for this, and sometimes more.
Another thing to look out for with gas reward cards is to check and see when you get your reward. Is it issued at the end of each month, or do you have to reach a certain number of points before they can issue it? Some credit card companies expect you to call in to request your reward. Also check to see if the reward can expire within a certain period of time if you haven’t used it yet.
I really do rate the Capital One® No Hassle Miles(SM) Rewards For Travel & Gas card because with the miles you earn, you can use them with any airline, at any time (no blackout date), no restrictions and no expiry on rewards, as long as your account is open.