Best Credit Cards for Gas

Gas is one of the most common expenses for many people and businesses. It is needed for ground transportation and driving. Plus, many people like to go on road trips throughout the year, which requires gas. That is why having a high-earning card is one of the easiest ways to quickly earn points and miles. This post highlights some of the best credit cards for gas purchases.

However, this post does not highlight many of the recent fleeting promotions for earning extra points and miles for gas. These recent promotions are one of the ways banks are helping their cardholders during the COVID-19 pandemic.

Transferrable Points

American Express Business Gold Card

Sign-Up Bonus: 35,000 Membership Rewards (MR) points for $5,000 spend in the first three months

Earning: 4x MR points on two categories of choice (including Gas); 2x MR points from the categories that are not chosen; one point for non-bonus category spend

Perks: QuickBooks membership, Hotel Collection access, Baggage Insurance, Extended Warranty

Annual Fee: $295 (NOT waived the first year)

American Express does not have many cards that offer high multipliers for gas stations. But the Business Gold Card can earn you up to 4x MR points for the category. You can still earn 2x points if you choose one of the other categories.

The categories to choose from are:

• Advertising (TV, radio, and online only)
• Airfare (booked directly with the airline)
• Select Computing Merchants
• US Gas Stations
• Restaurants
• Shipping

The Business Gold Card also comes with a decent number of perks for a card with a nearly $300 annual fee. But its true strength lies in its earning potential. For those with heavy gas expenses, this card is one of the best out there.

Citi Premier

Sign-Up Bonus: 60,000 Thank You (TY) points for $4,000 spend in in the first three months

Earning: 3x TY points on Airfare, Hotels, Gas, Groceries, and Dining

Perks: $100 Annual Hotel Credit

Annual Fee: $95 (NOT waived the first year)

As of August 23, 2020, the Citi Premier earns 3x TY points on Airfare, Hotels, Gas, Groceries, and Dining. The Premier’s five bonus categories makes it one of the best personal credit cards for earning points and miles. This earning structure also makes the Premier one of the most versatile and useful credit cards on the market right now.

Furthermore, the Premier’s sign-up bonus is worth 60,000 TY points. New cardholders must spend at least $4,000 within the first three months to earn the bonus.

Chase Ink Business Cash

Sign-Up Bonus: 50,000 Ultimate Rewards (UR) points for $3,000 spend in the first three months

Earning: 5x UR points on Office Supplies, Phone, TV, Internet, Bills; 2x UR points on Gas and Restaurants; one point on all other purchases

Perks: None

Annual Fee: $0

The Chase Ink Business Cash is the card that I normally use for my gas station purchases. It consistently earns more UR points per dollar at the pump than any other Chase card. The exception is when the Chase Freedom has Gas Stations as its 5x category.

The Ink Business Cash isn’t just good for gas. It also earns 5x points all year round on various utility expenses like cell phone bills. This is very impressive for a no annual fee card, let alone one that earns transferrable points.

American Express Blue Business Plus

Sign-Up Bonus: None

Earning: 2x MR points for the first $50,000 in annual expenses; one point for all expenses thereafter

Perks: Extended Warranty

Annual Fee: $0

American Express does not check the category boxes very well with just one card. However, the Blue Business Plus offers 2x points on everything up to the $50,000 annual limit. This can include gas station purchases, which is a common expense for businesses and individual consumers alike.

Chase Freedom

Sign-Up Bonus: 15,000 UR points for $500 spend in the first three months

Earning: 5x UR points on Quarterly Rotating Categories; one point on all other purchases

Perks: None

Annual Fee: $0

Gas Stations is one of the most common 5x categories featured on the Chase Freedom card. This is huge because it makes the Freedom a dominant card for gas purchases. The catch is that the points bonanza lasts for only three months. Gas Stations was most recently a 5x category during the first quarter of 2020.

The Chase Freedom is a versatile rotating card when you can use the category. Fortunately, Chase knows its customers well enough to select categories that will work for many of them without altering spend habits. Your mileage may vary.

Cash Back

Cash back is a great alternative for those with unconventional travel expenses or non-travelers. It can be used to cover anything you need or even to invest. Check out one of these options if that’s what you like.

Costco Anywhere Card

Sign-Up Bonus: Nothing substantive

Earning: 4% on Gas (up to $7,000 per year), 3% on Dining and General Travel purchases; 2% at Costco; 1% on non-bonus spend

Annual Fee: $0

The Costco Anywhere Card is a great choice for Costco members who want some extra cash back. It is particularly amazing at Costco’s gas station, where you can earn 4% cash back on top of saving several cents per gallon on gas. Plus, the Anywhere Card is decent for dining out and Costco purchases. These purchases will earn you 3% and 2% cash back, respectively.

However, this card is

Bank of America Cash Rewards

Sign-Up Bonus: $200 for $500 spend in the first three months

Earning: 3% on a category of choice (including Gas); 2% at Grocery Stores and Wholesale Clubs; 1% on non-bonus spend (percentages are higher with Preferred Rewards Program membership)

Annual Fee: $0

The Bank of America Cash Rewards Card is a practical cash back card for gas purchases. That’s because you can earn 3% back on a category of your choice, including gas stations. Furthermore, you can earn 2% cash back for Wholesale Club and Grocery Store expenses as well as 1% for non-bonus spend.

The Bank of America Cash Rewards card becomes even more lucrative if you’re a Preferred Rewards Program member. Bank of America or Merrill Lynch account holders automatically become members. Basic membership earns cardholders 10% more cash back bonus for all purchases. That means that gas station purchases will earn 3.3% cash back. The percentage increases if you have more money in your bank account(s).

American Express Blue Cash Preferred

Sign-Up Bonus: $250 for $1,000 spend in the first three months

Earning: 6% at US Grocery Stores and on US Streaming Services; 3% on Gas and Local Commuter Transit

Annual Fee: $95 (NOT waived the first year)

Cash back lovers who spend heavily at both Gas Stations and Grocery Stores will like the American Express Blue Cash Preferred Card. In May 2019, the Blue Cash Preferred was revamped to better reflect the needs of the card’s customer base. 3% cash back on gas stations is very nice, but grocery stores and streaming services are where this card shines brightest.

Final Draw

The cards in this post are some of the best for gas. Gas is a common expense for many people and businesses, especially during the summer. Road trips, day trips, and local commuting are just three of the reasons why gas is so important for many.

Beware of network acceptance and merchant coding if you get gas from a warehouse club. Different clubs code differently and don’t accept all networks. For example, Costco only accepts Visa cards and their gas station codes as a gas station. Out of this list, only the Chase Freedom and Chase Ink Business Cash are accepted at Costco. But you can use any Visa there without being declined.

Apply Today:

• American Express Business Gold Card
• Citi Premier
• Chase Ink Business Cash
• American Express Blue Business Plus
• Chase Freedom
• Citi Costco Anywhere Card
• Bank of America Cash Rewards Card
• American Express Blue Cash Preferred Card