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Tips For Obtaining A Business Credit Card
By Morgan Hamilton
The first thing that most businessmen will do in establishing businesses credit is to obtain a business credit card. It is important to know that these credit cards are not the same with credit cards Read more...
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Resources
Personal Loans and Your Credit Score
By Joe Hanoa
Did you know that your credit score will most definitely impact the rate you pay on loans? That’s right, the higher your credit score the lower your interest rate will be for a home mortgage, auto Read more...
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Resources
Keeping Track Of Credit Card Spending
By Peter Kenny
Credit card spending can be hard to keep track off if you are not disciplined, but it is important to monitor your spending in order to stop yourself getting into huge debt. If you are having trouble Read more...
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A measurement of a person's ability to pay bills on time. Several companies track individuals' credit histories by detailing late or missed payments on loans, credit cards and other debts.
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#Welcome to
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How a Gas Rebate Credit Card Could Actually Cost More
By Jeremy Biberdorf
With gas prices still very high, people want to save some money at the pump. Gas rebate cards are becoming a very popular alternative. The average gas rebate card can save you up to five percent on gas purchases. If you’re not careful with your card use, a gas station card could make you pay more for your gas.
Misleading Gas Credit Card Applications
Before applying for any card, read the terms and conditions. Most gas cards claim high cash back percentages, but there is usually a catch. Here are some examples:
• cash rebates limited to one gas station company
• high cash rebates only during an introductory period of usually 6 to 12 months
• a monthly or annual limit on how much cash back you can earn
• a tier structure with varying cash back percentages depending on spending
The card companies are very careful with their marketing wording. A cash back percentage is usually quoted as ‘up to 5% cash back’. Once they say ‘up to’, you know you won’t get that high cash back all the time. So know what you are applying for to prevent disappointment.
Keeping a Balance Will Blow Your Cash Rebates
With any card, if you only make the minimum payment and keep a balance, you will pay interest charges. Over time these interest charges could cost a lot more than any cash rebates you earn. Try to only use your card as much as you can afford to pay off next month. This can be difficult to adjust to for some people. Suddenly they are paying for everything with their card to earn more cash back. Meanwhile it seems as if their bank account is unaffected. This could lead to impulsive spending. Before they know it, their bank account is empty and a big card bill shows up. Then the interest charges add up. This is how card companies can afford to offer cash back. Ideally you should keep track of your card spending and keep that much cash aside as money already spent.
Gas Rebate Credit Cards Offering Rewards Other Than Cash Back
If you are trying to save money with a gas card, choose your card rewards carefully. You could earn airline rewards on your gasoline purchases, but they cost more money in the end. Airline rewards would likely only cover a portion of you or your family’s airline tickets. Then factor in vacation expenses and lost wages. Other gas station reward
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cards offer gift certificates. Again it usually only covers part of the purchase and it is something you wouldn’t normally buy. To really save with gas cards, apply for a gas card that offers cash rebates as checks or statement credit.
Why Are Gas Rebate Credit Cards Still So Popular?
Gas prices are a major economic factor. We hear about gas price fluctuation in the news. The card companies are aware of this concern. Nearly every gas station company has its own card and many of them are heavily marketed. Despite some reward limitations, many of these gas rebate cards are very good deals.
If you spend a lot of money on gasoline, a gas rebate card can get you the cheapest gas prices. A gas rebate card used responsibly could save hundreds on dollars off your gas bill each year. Ensure you are familiar with your card rewards program details though. Pay off your card each month and avoid interest charges. Compare card offers carefully and read the fine print.
Jeremy Biberdorf writes for www.GasolineCreditCards.net offering a comparison of the best gas station credit cards. Apply online for a gas credit card and start saving today.
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