By Gregory Karp, Jae Bratton | NerdWallet
If you’re paying full price at the gas pump these days, you might be missing a way to fuel your household savings. That’s because many rewards credit cards offer bonus points when you use them at the gas station.
Used right, those rewards are like a discount on every gallon you buy. Few consumers would turn down these savings when the average price of a gallon of gas as of May 2024 was $3.61, according to AAA.
It’s fairly common now to get triple points — 3 points per dollar spent — for using a rewards card to pay for gas. Notably, some of the best cards for fill ups don’t feature the names of big oil companies or their service station brands. Instead, you’ll likely save the most with general rewards credit cards or cards associated with warehouse clubs and credit unions.
As you shop around for a card that will shrink your gas budget, keep these tips in mind.
Use 3% as a benchmark
The most lucrative cards for gas offer the equivalent of 3% or more in rewards. Better still, many cards with high rewards rates don’t charge an annual fee, so you’ll pay nothing to earn rewards that can be redeemed for cash back, gift cards, travel and more. read more