Published 9/1/08 (Modified 4/9/12)
By MoneyBlueBook

Updated List Of The Top Gas Credit Cards To Earn Cash Back Spending Rewards

My gosh, gas prices are so incredibly and insanely high these days it's getting ridiculous. These days I'm paying more than $50 just to fill up my Honda Accord sedan and it's hurting my wallet more and more. If this keeps up I may need to invest in a fuel efficient moped or Segway scooter just to save money. Is the planet really running out of gasoline or is this recent ramp up in fuel prices caused by temporary squeezes in supply and demand speculation? I'm not sure the exact cause of the price hikes. Perhaps the supply costs have been skyrocketing because of recent world wide instability and ongoing conflicts in gas producing regions of the world such as the oil rich Middle East. Whatever the reason, it's the everyday Joes and Janes like you and I who suffer the most.

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As ordinary consumers, we really have little say on the matter beyond griping to ourselves and shaking our fists in pointless defiance at the almighty gas pump. Unless our government or society as a whole can expedite plans to develop self sufficient alternative forms of energy to power our vehicles, gas prices will likely continue to increase unabated for the foreseeable future. Until we can replace our total dependence and thirst for such fossil fuels, and substitute it with other alternative fuels such as solar, hydrogen, ethanol, or heck, even vegetable oil (or at the very least greatly improve on the efficiency of our current electrical fuel cell technology), we are likely going to keep suffering through super high gas prices for some time.

But as consumers, we do have a valuable financial tool at our disposal - gas credit cards, which offer cardholders the ability to earn cash back rebates and rewards of up to 10% back in some cases on all gas related purchases. Of course, clipping coupons is another option, but then again, when was the last time you actually saw a coupon out there that offered gas station related savings - they just don't exist. Using an online tool like Gas Buddy to seek out the lowest gas prices in the neighborhood or area is a great way to lower the cost of gasoline spent, but the reality is that it's not always possible to make it to the cheapest gas station everytime. Sometimes you just have to make do with what's nearby.

That's why gas credit cards are so useful for those who can properly manage the use of credit cards and credit card rewards. The cash back rebates you can earn on all gas purchases is universally applicable and can be earned at any gas station location or brand regardless of where you go. These gas cards are oftentimes going to be the best overall bet when it comes to saving money on gas at the pump.

After searching and carefully scrutinizing all of the best gas credit cards available, here are the top gasoline rebate deals I think are the most worthy of mention.

My List Of the Best Gasoline Credit Card Reward Offers:

1. Discover Open Road - Get 2% Cashback Bonus automatically at any gas station and any restaurant, on up to $250 per month. If your car repair shop or auto dealership takes Discover, this is one outstanding rebate card to own.
2. Blue Cash(sm) Everyday American Express - Get 2% cash back at gas stations and department stores, 3% cash back at supermarkets, and 1% cash back on all other purchases. No spend minimum, No enrollment, and No rotating rewards categories.
3. American Express True Earnings Card From Costco - This credit card offer is ideal for Costco warehouse club members. All rebate rewards earned are awarded as Costco cash redeemable for money and merchandise. It offers 3% for annual gasoline purchases of up to $3,000 (1% thereafter), 3% for restaurants, 2% for travel, 1% everywhere else, including Costco. This card has no annual fee as long as the cardholder has a paid Costco membership.
4. Chase Freedom $100 Bonus Cash Back - Get 5% bonus cash back in popular, rotating categories like gas, groceries, airlines, home improvement and more. Earn unlimited 1% cash back for everything else thereafter.