Photo: Flickr – nyc dreamer
CardHub surveyed over 1,000 card offers to find which rewards credit cards will drain your wallet at the pump. (You can check out the best ones here.) Since choosing the wrong card is like leaving free money on the table, they advise not to bother with these:
Chevron and Texaco Credit Card: By only offering measly $0.10/gallon savings at Chevron and Texaco stations, this card doesn’t look good. Also, you can only accrue a maximum of $300 in fuel credits per year.
Shell Credit Card: Spend less than $500 per month and you’ll get nothing with the Shell Credit Card. Spend between $500 and $999.99 and you’ll get a deal on par with Texaco’s card: $0.10/gallon. Not awesome. To get a $0.15/gallon discount, you’ll need to spend between $1,000 and $2,499.99; for $0.20/gallon rewards, you’ll need to spend $2,500-plus.
Gas station store cards: These cards may look like a deal, but CardHub’s CEO Odysseas Papadimitriou says they’re really just for people with damaged or limited credit. If the card lacks a Visa or MasterCard logo, you can bet it has measly rewards, if any. Example: Conoco’s Gas Card only saves $0.05/gallon if you purchase at least 45 gallons of their gas (or Philips 76) in a month. Meanwhile, the Citgo Gas Card only offers rewards after 90 days.