Fill ‘Er Up – All About Gas Credit Cards
With the gas prices at the pump constantly going up, getting a gas credit card might be a good deal. Many of the gas credit cards available even offer gas rebates on your credit card 
purchases. Getting money back for a basic purchase like gasoline can be a welcome help to any budget.
However, there are some basic facts that you need to know about gas credit cards before you decide to apply for one.
Two Types of Gas Credit Cards:
There are two kinds of gas credit cards that are available to consumers.
The first type of gas credit card is offered through a regular credit company. It can be used at any gasoline station and for non-gasoline purchases. The terms for this type of credit card will be competitive to most generally available credit cards. It is considered a gas credit card because it offers rebates that can be used to purchase gasoline.
The second type of gas credit card is offered directly through a gasoline company. It can only be used to buy gasoline at the gasoline stations that are owned by the gasoline company, although it can generally be used for both gasoline and purchases at a convenience store that may be attached to the gasoline station. It may also offer rebates that can be used to purchase gasoline.
What to Look For in a Gas Credit Card:
To get the most from a gas credit card, you should look for low interest rates and a high rebate percentage. It’s also important to make sure that the offer is not merely an introductory offer, but is good for the life of the card. You can discover this by reading the fine print on your credit card offer. Often, a credit card offer will look almost too good to be true. Open further examination, you will discover that the offer is an “introductory offer” and applies only to purchases made in the first few months that you hold the card.
Once You Have Your Gas Card:
Once you have received a gas credit card, you should make an effort to pay the balance in full each month. It’s also important that you pay your bill on time each month. Many credit cards have late payment fees and add additional finance charges if you carry a balance on the credit card account. Also, you should be aware that some gas rebates expire over time. Make sure that you understand any deadlines associated with your rebates.
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Your credit rating has a direct impact on the interest rate you'll pay on your credit cards. See below for today's APR averages:
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