Credit Card FAQ
Can I Lower My Gas Bills with a Gas Rebate Credit Card?
While many companies offer credit card products, there are few that are specific to a particular brand or service. Gas rebate credit cards are not new and neither are they any different from the regular credit cards in terms of interest rates and APRs. The only difference is that these cards are designed to deliver savings to the consumer when it comes to gas purchases.
In America, most people travel using their automobiles — whether it is their daily commute to and from work, dropping and picking up the children from school or play dates, or even vacations and visiting friends across states. Driving is by far the most frequently used method of getting between two places. Having a gas rebate card therefore makes a whole lot of sense.
Why Gas Rebate Credit Cards?
Almost all credit cards offer rewards programs in some form or another such as discounts and reward points which can be accumulated and then used for making purchases. Gas rebate cards offer cash back or discounts on gasoline purchased using those cards. Since gas purchases are done on a weekly or monthly basis, customer can see savings / rebates every month on their credit card statements. The idea of saving money when you purchase gas or groceries or other everyday items can be very tempting, which is why gas rebate cards are now offered by every major credit card company, gas company, bank, credit union, or any other financial institution and even department stores.
Why Would A Credit Card Company Pay You Money?
Like any other cash back card, gas rebate credit cards promise and deliver on what can be considered one of the biggest incentives to use a credit card — money. Imagine that! Credit card companies paying you money to use their products! Why on earth would an industry known for hiking interest rates, levying additional charges and fees, give money to consumers?
The biggest reason is that it is a great incentive for people to start using the card that gives cash back more often than the ones that do not. It also means that people who use that card more often, will have a balance more often which they will most likely carry on to the next month. The company can then add finance charges to the balance and also make money off of the merchants who reward consumers for using the card at their gas pump, grocery, and convenience stores.
In effect, the credit card companies pay the customers using the gas rebate credit cards and still make more money off of them. So when most credit card companies want customer loyalty, the customer wants something back and by "something" they mean cash.
Lowering Gas Bills
The gas rebate credit card is one of the simplest ways of saving money or lowering your gas bills. Every time you pump gas at the gas tank, you get a rebate. The rebate is usually a set percentage (depending on the card you use) of the purchases you make on the card. Nowadays, most banks offer you gas rebate credit cards that give you a small percentage rebate on all gasoline purchases and a smaller percentage rebate on all other purchases.
Apart from cash backs and rebates, these cards offer many other advantages. They can be lifesavers when the needle is nearing the empty mark and you don't have enough cash in your wallet. Using a Gas Rebate Credit Card also means that you will be able to manage your monthly gas consumption and payments better. All in all, it means savings in your wallet and better value for a full tank of gas!
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