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Credit Card Applications for Gas Rewards - Once Bitten, Twice Shy• Click here to view all Articles... • Click here to view Credit Card eZine Archive... |
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Gas prices for the coming winter driving season stuck at sky-high level can bring many unpleasant minutes for car owners. Thus credit cards that offer gas rebates are worth looking at.
If you are going to spend on gasoline and pay off your balance on a monthly basis, gas companies will give you nice rewards. So, your thirsty tank will get some free gallons of precious fuel!
All big gas companies have signed contracts with major credit card issuers such as Visa, Master Card, Discover. They offer rebates ranging from 1% to 6% on gas purchases. But there are pitfalls: annual percentage rate and annual fee.
At first glance a gas reward card seems to be very attractive. As for example Citi Driver's Edge Platinum Select MasterCard. During the introductory period that lasts first 12 months you will get 6% discount on purchases. When the promotional period is finished your rebate will be only 3% and usual for this type of credit card APRs will be applied.
So, if you wish to make a gas rebate credit card application make sure you understand the difference between the introductory terms and conditions and usual terms that are in fine print.
Remember that a credit card issuer make alterations into terms and condition with little notice. One day you will receive a letter saying that, for example, if you continue use your credit card only for buying gas, your discount will decrease from 5% to 2%. This is just an example, but be prepared to ask your card issuer for any alternatives.
Another point to mention is that not all stations qualify for full rebates. This is usually written in your credit card agreement. So, this gradually depends on a credit card deal. Some offer you discounts at all gas stations, others cover only selected ones. Maybe it is better to skip station specific cards.
Interest rates on unpaid balance for gas reward credit cards are usually very high and can be more than 15%. Trying to save several dollars at a pump and then accruing debt and paying high interest does not make any sense. Make sure you pay off your debt in full. If you carry a balance - as more than half of card holders do - carry it on low rate cards.
Some credit cards issuers do not automatically give you a discount or send you a check. You have to request it. Moreover, you need to do it quickly, because your reward can expire.
In order to get a rebate card you need to have at least good credit history. That means you pay your bills on time, do not miss payments and so on.
The credit cards market is saturated. There are thousands of offers. And with gas prices going higher and higher credit card issuers will soon be offering more attractive discounts. Remember that what you get is only a small slice of this huge pie. But when you chose a credit card make sure you fully understand the terms of use.
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Of course, one should understand that having a credit card has its pros and cons. If you don't think them over and decide if you need this credit card or not you can face a lot of serious problems.
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Now that oil prices skyrocketed and the country is trying to cope with financial crisis, car owners find ways to lower the costs of car maintenance. Quite a number of banks introduce co-branded credit offers for making purchases at gas stations and other car related spending. Using an auto rewards card, a customer can earn points redeemable for rebates at gas stations, for purchasing new or used car, auto parts, etc. Besides, you can considerably save on paying for car service, provided that you choose a card co-branded with your automobile manufacturer.
As you see, automobile rewards cards work like any other rewards plastic. Some of them provide cash back and rebates, others imply point accumulation programs.
Many people travel by air on the regular basis - on business or for pleasure. This is why plastics for traveling are very popular, being in more demand than cash back credit cards. Consumers reportingly prefer using plastics with hotel or airmile rewards to regular cash rewards cards because travelling rewards are more satisfactory.
It is a well-known fact that credit cards with hotel and frequent flyer rewards are available for consumers with good and excellent credit history. These people can choose among numbers of bank offers in order to find the most beneficial credit card. A wise consumer who wants to keep his high credit score and save his money, knows the importance of choosing the right card.
The lucky visitors of the next Olympics'2012 in London are going to be twice as lucky because they will not have to carry money with them! Visa, the official credit card provider for the next Olympics, promises that all the purchases will be cashless in the Olympic village. What is more, Visa company announced they will issue quite a number of contactless credit cards which need only swiping over a reader. Thus, a transaction will take no more than a few seconds. Credit cards for quick and safe purchases are going to be used on public transport and will work as entrance cards for different events.
It is no secret that consumers today are terrified by regular reports of ID fraud cases. Every day you come across information about unauthorized charges on credit cards, card losses or phishing via e-mail or phone. Once being a victim of ID thieves, a consumer can spend years on repairing the damage of both credit history and finances. However, there are serious measures taken by credit issuing companies. It is quite understandable, because fraudulent activity also results in the significant losses that banks incur.
A group of lenders from Canada and the USA in cooperation with Visa Inc. started a new program for protecting customers from credit card fraud. The program basically provides real time alerts about all suspicious transactions with your credit cards. Thus, the service widely known as fraud alert has become more convenient and fast.
