Let’s take a look at the best gas credit cards to maximize your points or cash back.
Gas prices saw some relief lately, but that’s sure to change as the year goes on.
And per usual, gas prices will likely surge as summer arrives.
In fact, GasBuddy warned of $7 a gallon gas in places like LA and San Francisco.
Elsewhere, $4.00 per gallon could be the norm, which is nothing short of scary.
Americans Spend Thousands on Gas Annually
Americans are expected to spend around $471 billion on gasoline in 2023, which is actually $55 billion less than they spent in 2022.
Meanwhile, the average household will spend about $2,471 on gas, also a decline of $277.
Still, it’s about $2,500 per household, or roughly $208 per month on gas.
Might as well get some cash back, or better yet, rewards points for all that spending, right?
It’s surely one of the bigger expenses we all have. And if you have to drive, you have to drive. There typically isn’t a viable way around it.
Thankfully, most credit card issuers have caught on to the problem and offer a bit of a solution.
I’m talking cash back rewards or bonus categories on everyday purchases like gasoline.
Even if you drive an electric vehicle, you can save because electric vehicle charging stations are typically included as well.
Check Out the Best Gas Rewards Credit Cards for 2023:
|Issuer||Card Name||Points / Cash Back||Annual Fee|
|Amex||Blue Cash Everyday||3% cash back||$0|
|Amex||Blue Cash Preferred||3% cash back||$95|
|Amex||Hilton Honors||5X points||$0|
|Amex||Hilton Honors Surpass||6X points||$95|
|Bank of America||Customized Cash||3% cash back||$0|
|Barclays||AARP Essential||3% cash back||$0|
|Chase||Freedom Flex||5% if rotating quarter||$0|
|Citi||Costco Anywhere||4% cash back||$0 (w/ Costco)|
|Citi||Custom Cash||5X points||$0|
|Discover||it||5% if rotating quarter||$0|
|MasterCard||Sam’s Club MC||5% cash back||$0 (w/ Plus)|
|Navy FCU||More Rewards Amex||3X points||$0|
|PenFed CU||Platinum Rewards||5X points||$0|
|USAA||Cashback Rewards Plus||5% cash back||$0|
|U.S. Bank||Altitude Connect||4X points||$95|
|Wells Fargo||Autograph Card||3X points||$0|
|Wyndham||Earner Business||8X points||$95|
This credit card intended for seniors offers 3% cash back on gas all year round. You apparently don’t need to be 50 to become a member of AARP to get the card.
It also offers 3% cash back at drugstores, which is another perk if you spend a lot in that category. And you can earn a $100 cash back bonus when you spend $500 within the first three months of account opening.
The Bank of America Customized Cash credit card offers a full 3% rebate on the category of your choice (gas) up to $2,500 per quarter. Just keep in mind that gas and grocery rewards are capped together at $2,500 per quarter.
But it only offers 2% cash back on groceries, so it might be best to use just for gas anyway.
A touch limited but if you use the credit card for gas only, you should be able to realize a 3% rebate for the majority of your gasoline purchases for the year. It’s not a bad credit card aside from the rewards aspect. It comes with no annual fee and 0% APR for the first 18 months, as well as cash back on everyday purchases and a $200 bonus when you spend $1,000 in the first 90 days..
This isn’t an outright gas rewards credit card, but the Chase Freedom does typically offer 5% cash back on gas during one quarter of the year up to $1,500 in total purchases.
The maximum rebate you can earn for gas purchases during a quarter is $75. It’s certainly worth using when that quarter comes along, as it’s difficult to beat 5% cash back on gas.
Earn 3X Citi ThankYou Points on gas purchases with no limit on how many points you can earn. You can also transfer points to a variety of airline and hotel loyalty programs, making the 3X rate potentially worth a lot more.
Citi Custom Card Cash
In the case of the Citi Custom Cash card, you get 5% cash back in your top spending category, on up to $500 spent each billing cycle. So make it gas and you get 5% on all gas up to $500.
Pair it with Citi Premier and you can transfer those 5X ThankYou Points to airline partners!
This is one of the best new gas rewards credit cards out there. Earn 4% cash back on gas at Costco and other standalone stations (on the first $7,000 annually) and 1% back thereafter.
Most people don’t spend anywhere near $7k on gas so most will earn 4% cash back on all their gas purchases.
The hitch is that there’s an annual fee, though Costco members don’t pay it if they pay their membership.
It also includes spending at EV charging stations worldwide!
The Discover it card offers rotating 5% cash back categories, with gas often offered not just one quarter per year, but two.
So you can use this card half of the year and earn 5% cash back on all your gas purchases, with a quarterly $1,500 spending limit.
It also offers other handy 5% cash back categories, making it a worthwhile addition to your credit card stash. And $0 annual fee!
PenFed Platinum Cash Rewards Visa Card
This gas credit card is reserved solely for PenFed Credit Union members comes with a staggering 5% cash back (5x points) on gas with no limit.
That’s pretty unbeatable at face value. But the catch is that PenFed points might not actually be worth a penny depending on how you redeem them. So it might look better than it really is.
Another no-brainer is the Sam’s Club MasterCard, which offers 5% cash back on gas purchases at both Sam’s Club locations and any other U.S.-based gas stations.
The catch is that you only get 5% back on gas on up to $6,000 in purchases annually. Again, most people probably won’t exceed that high spend.
USAA Cashback Rewards Plus American Express
If you happen to be a member of the military, or have family members in the Armed Forces, the USAA Cashback Rewards Plus American Express offers 5% cash back on gas.
The caveat is that the annual limit is just $3,000, and the category is shared by military base purchases.
So it can perhaps go quickly. Still, 5% cash back on gas is hard to beat.
Then there’s the Wells Fargo Autograph American Express Card, which offers 3X points at U.S. gas stations. It’s basically a good option if your best credit card is only giving you 2X or less on gas.
For the record, I didn’t include any gas credit cards that only offer 2% or 2X because there are several credit card that offer 2% cash back or more on ALL purchases, year-round.
One final credit card to consider is the Blue Cash Everyday Card from American Express, which offers 3% cash back on gas, 3% cash back on groceries, 3% at U.S. online retail purchases, and 1% cash back everywhere else.
This card has no annual fee, a 0% introductory rate for up to 15 months, and is considered by many the “best cash-rebate card.”
*Even better is the old version of the card that comes with 5% cash back on gas once you spend $6,500 during your reward year. This was my card of choice in the past.
Look Out for Special Offers And/Or Buy Gas Gift Cards
These solid gas rewards cards aside, you may also come across promos from your card issuers.
For example, I got an Amex Offer for 5X Membership Rewards points on gas all summer long. There didn’t seem to be a spending limit either.
It’s also common to see these gas-related offers on other credit cards, such as via Chase Offers. Take the time to check them from time to time.
Lastly, another clever way to earn 5X on gas purchases using a credit card is to purchase gas gift cards.
For example, the old Chase Ink Plus card earns 5X at office supply stores. And those stores sell lots of gift cards…
Pick up a gas gift card and you’ll earn 5X on it whenever you buy gas. Same goes for grocery stores that offer 5X. They sell tons of gift cards that can be used on gas too.
Pro tip: Travel bonus categories typically do NOT include gas station purchases, even though it sounds a lot like travel…
Know of a better gas rewards credit card? Chime in below.