Credit Card ’s Talk

Gas credit cards are one of the many new types of credit cards being offered by credit card companies that are aimed to get consumers attention. Almost everyone buys gas and when a credit card company teams up with a gas company it means more customers for both companies. With gas prices rising any way to save money on gas purchases is great. Credit card companies realized this and saw it as a way to get more customers. With the stiff competition between credit card companies they are always looking for a way to be better than one another and offer the best deals possible to their customers. Learning about the types of cards and following some tips to choosing one will help you find the best gas credit card.

Gas credit cards work like any other reward card. The concept is that when you use your gas credit card to make purchases you earn points that you can then use to get free gas. Credit card companies team up with a gas company and both logos are on the card. The points you earn can be used at the gas station that is tied in with your credit card.

There are other gas credit cards that are issued by the gas company only. These cards are easy to use like credit cards, but can only be used at a specific gas station for gas purchases or purchases inside the gas station. These cards are convenient if you need to track your gas purchases or just do not like to carry cash and prefer not to charge gas on your regular credit card.

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Typically, when one approaches the register at a department or retail store, they will be given the opportunity to apply instantly for a store issued credit card. The pitch is that upon approval, the customer will receive 10% off of their current purchase using their new card. Everyone enjoys savings, so many people bite immediately at this offer. The problem is that this enticing, one-time savings, blocks the better judgement of the consumer. Few people ask for information regarding the introductory APR on the card. If they do, the salesperson rarely knows. Usually, APR’s on store issued credit cards starts at 21.99-23.99%. This APR is reserved for people with good credit. Introductory APR’s on store credit cards may start as high as 28.99%!

This is how the store benefits. They issue a card immediately without having to spend any money on advertising to gain an applicant. They immediately attain a balance on the card which has a high APR. They also get the consumer to return back to the store because they are carriers of their card. Plus, these cards may be used to make online purchases or catalog purchases over the phone. Their only loss is 10% of a purchase that they will more than double from each consumer over time.

Let’s say that you are a responsible individual. You want the 10% savings, so you figure that you’ll use the card, immediately pay the balance in full, and never use the card again. This seems like a legitimate thing to do, but it has a few flaws. You benefit from paying the balance off immediately because you’ve just saved 10%. True for the short term. Longterm, you may run into problems. It would be unwise to cancel this card directly after paying off the balance because it would show up as a closed account on your credit report.

Closed accounts on credit reports are viewed as negative by lenders. So now you’re stuck carrying a credit card that you won’t use because the APR is too high and it doesn’t come with any long-term rewards program. You will probably receive periodic credit limit increases over 9-month terms, especially if the lender sees that the account has a zero balance and no delinquent payment history. Each credit increase will directly affect your potential debt. Thus, potentially impeding your potential for credit card approval on cards that you will actually use. Is this worth the initial 10% that you saved?

If you want to save money on purchases, there are much better alternatives than store issued credit cards. One option is applying for a cashback credit card. These cards are issued by major issuing banks and typically come with low APR’s on purchases and balance transfers. Recently, Chase Manhattan Bank has replaced their Chase Cashbuilder card with the Chase Cash Plus Rewards Visa. This card has an intro 0% APR on transfers/purchases, no fee, and a 12.99% variable APR thereafter. You may earn up to 5% cashback on purchases or choose from a variety of different rewards, such as travel and merchandise. Savings using this card or other similar offers wisely, are much more lucrative than those of a one-time 10% savings on a purchase.

There are other specific rewards programs available. Chase also issues Disney, Starbucks, Borders Books & Music, and Avon Visas. Citi issues a Home Rebate Mastercard featuring mortgage savings and a Upromise Mastercard featuring future savings on college tution. All of these come with lower APR’s than store issued credit cards.

Another thing to be wary of are gas rewards cards issued directly from gasoline merchants. These credit cards typically come with high APR’s similar to those of department store and retail issued credit cards. If you are interested in saving money on gas, many banks now feature gas rewards cards. Chase currently offers Hess Visa and the Chase PerfectCard (which provides cashback on gas purchases), while Citi has just launched their Shell Mastercard. Applying for these cards from banks rather than merchants will provide you with greater savings and lower APR’s.

Be wary of signing-up for any merchant issued credit card. Read the find print and ask as many questions as possible before enlisting. These decisions may affect both you and your credit longer than you may think.

? Credit Card Outlet

Russ Nauta is a senior staff writer and investigator for Credit Card Outlet.

Credit Card Outlet has been a leading consumer credit card information portal since 2004.

This article may be reprinted with a live link back to http://www.credit-card-outlet.com

Time is a luxury that most people do not have. Time is a valuable commodity, especially for busy men such as myself. I am a salesman and I often have to visit a lot of places in order to reach my quotas. Fortunately for me, there are things such as gas credit cards that make it convenient and less costly for me to refuel.

If you are not familiar with this type of credit card I suggest that you check out cyberspace to get information about them. The Internet can also give you sites that will aid you in finding offers from various gas companies like Conoco, Hess, Marathon, Citgo and Phillips 66. You will also find gas credit cards that can be used to buy gas from any gas station.

Gas credit cards offer different types of promotions and rebates to catch the attention of car owners throughout the country. Marathon gas credit cards offer a 10% rebate on Marathon Midwest and Southeast gas stations, for the opening sixty days. After that period, you’ll realize a continuous 5% rebate.

This gas credit card will not charge you an annual fee for the first year. In addition, if you use this credit card for nine purchases for the year, you will not be obligated to pay the usual $90 yearly fee for the following year. The rate on this card might be as low as 13.99% depending on your credit. You will enjoy no fee and zero percent APR on any balance transfers.

Hess gas credit cards on the other hand, offer you promotions for free gas and merchandise at all Hess, Hess Express and Wilco Hess location. You will earn a 10% rebate during the ninety day introductory period. After which you will net a 5% rebate for every Hess purchase while purchases from other gas stations will give you a 1% rebate. If choose to get the Hess platinum gas credit cards, your preliminary APR is zero balance and can last up to six months. You will not be charged for any yearly fee with this credit card.

Chase PerfectCard is also one of the gas credit cards that are featured on the World-Wide -Web. It offers a rebate of 6% for the preliminary ninety days, which is good on any gas purchase. Once this ninety day period ends, you will enjoy a one percent rebate on whatever you procure at restaurants, clothing retailers, and grocery stores. You will also earn a 3 % rebate at all gas station purchases after the introductory period.

Your APR is also fixed at zero percent on any balance you transfer to the cards for as long as nine months. Depending on your credit card, you can earn a rate under 14% and will not be charged for any annual fee. You can choose to waive this annual fee by making a minimum of nine purchasers for the year.

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There are 7 simple steps to help you save up to 25 cents per gallon or more on gas purchases using gas rebate credit cards.

1) Know the rebate percent. It sounds simple but some cards give a 10% rebate and others only give a 3% rebate on gas purchases. Most cards give a 1% rebate on non-gas purchases. You should pick the card that pays out the highest rebate.

2) Know the limits of the rewards. Some cards only pay out a rebate on the first $1200 you spend each year and other cards have a limit on the rebate itself, such as giving back $50 or $400 per year.

3) Apply for new cards when you hit your rebate limit. There is no law limiting you to only one gas rebate card. After you’ve hit your rebate limit, that gas reward card isn’t doing you any good so you should apply for a new card as soon as possible.

4) Apply for cards for specific gas stations in your area if any are available. This type of gas reward card typically has the highest rebate percentage. The Chase Hess rebate card gives a 10% rebate (that’s 25 cents off at $2.50 per gallon) at Hess gas stations, but that won’t help you if you don’t live in an area with a nearby Hess gas station.

5) Be responsible. Pay your balance in full as soon as you receive your statement. A 4-10% rebate is worthless when you have to pay 17% or more in interest charges. This doesn’t apply if the card has a 0% Intro APR and you are within the intro period; however, the intro period doesn’t last forever so you should still pay your full balance monthly.

6) Transfer your balance if necessary. If you find yourself in debt when the intro period is almost over or when you?ve maxed out your rewards, you can apply for a gas credit card that accepts balance transfers. This will allow you to transfer your balance without having to pay interest and you?ll start collecting more gas rewards.

7) Make sure the card has no annual fee and a 0% Introductory APR. There are too many credit cards on the market for you to have to pay an annual fee, since this defeats the purpose of getting rebates. Also, you’ll want a 0% Introductory APR in case you aren’t able to pay your balance in full every month.

From peak oil to Iran?s nuclear weapons program and other conflicts in the Middle East, most experts agree that high oil prices are hear to stay. The good news is that if you follow the seven simple steps above you’ll be on your way to saving money at the pump.

Barry Boggs Jr is the webmaster for http://www.Gas-Credit-Cards.com, a website that is dedicated to showing consumers how to save money on gas through the proper usage of gas rebate credit cards. He can be contacted at bboggs@ncsreporting.com.

You can find gas credit cards for just about any major - and some minor - gas companies. These gas credit cards are easily found online. One site we perused, for example, told us about several different gas credit card offers. It told us how to find gas credit cards for Marathon, Hess, Phillips 66, Citgo and Conoco. A few of the gas credit cards featured allow you to purchase any brand of gas you wish from any station.

One of the gas credit cards they talked about, a Chase PerfectCard, offers a rebate of six percent for the first 90 days you use it. This rebate is good on any purchase of gas you make at any gas station.

Once the initial ninety days is up you still will realize a one percent rebate on purchases at restaurants, dry cleaners, grocery stores and clothing retailers as well as gas stations.

Not only that, your gas credit card rebates will get credited toward any purchase you make in the future with this card.

After the introductory period, you’ll earn a 3% rebate at ANY gas station on all gas purchases. Not only do you have a quick, easy payoff with this gas credit card but your APR is also fixed at zero percent on any balance you transfer to the card for up to nine months. You can earn a rate under 14 percent depending on your credit, and the first year you will be charged no annual fee.

Once your first year is up, all you will have to do to have your annual fee waived is to make nine purchases total with the gas credit card for the year.

Marathon gas credit cards offer a big ten percent rebate on Marathon Midwest and Southeast gas stations the first sixty days you use your card. After that you’ll realize a five percent rebate continuously.

This gas credit card also gives you a one percent rebate off any other purchases that you can put towards Marathon gas purchases.

This MasterCard gas credit card charges no annual fee your first year and, if you make nine purchases with this gas credit card for the year, you won’t have to pay the $20 annual fee the subsequent year either. For the first nine months you own the card there is no fee and zero percent APR on any balance transfers.

The rate on this gas credit card can be as low as 13.99 percent depending on your credit.

Hess gas credit cards offer you rebates for free gas and merchandise at every Hess, Hess Express and Wilco Hess location. The first ninety days you will earn a ten percent rebate. Subsequently, every Hess purchase with your gas credit card will net you a five percent rebate, while any purchase elsewhere will give you one percent back.

With Hess platinum gas credit cards your introductory APR is zero balance and can last up to six months. With this gas credit card there is no annual fee ever.

Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting Gas Credit Cards