Reduce the price per gallon with a Gas Credit Card and save big!
Gas prices are at their highest in years—and experts say there's no relief in sight. If you depend on your car like most Americans, your wallet could take a hit this summer unless you have a plan of action. A good place to start is with a gas credit card.

Did you know that gas cards actually give you cash back every time you purchase gas and other select items?
Rebates and fees vary, but some gas cards offer rebates of up to 10 percent. To find the gas card that gives you the most cash back while still fitting your needs, it pays to compare.

With gas up by a dime nationwide, expect credit card issuers to get even more aggressive about marketing gas credit cards. For now, let's look at some of the best gas cards options. With Discover's Gas Credit Card, you can earn a five percent rebate on all gas purchases. The Chase Perfect Card offers a six percent rebate on gas for the first 90 days and three percent thereafter. The Citi Dividend Platinum Select Card not only lets you earn five percent back at gas stations, supermarkets, and drug stores and one percent cash back on all other purchases.

Although you can find cards with better rebates, the tradeoff is that you might be required to stick to one brand of gas or a specific gas station. Here are some examples: Chase offers a Hess Visa Platinum Card and a Marathon Platinum MasterCard with up to 10 percent gas purchase rebates. The Speedway SuperAmerica Platinum MasterCard gives you an eight percent rebate. Both gas cards must be used at a specific gas station.

Will a gas credit card really benefit you? Yes – if you do this:
Use your card for all of your day-to-day purchases so that you maximize your rewards, rebates and/or cash back.

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How does a Gas Rebate Card work?
It's pretty straightforward. Simply use your gas card for gas and other purchases and you'll get a rebate as a credit back to your card, cash or in certificates, depending on the issuer's terms. For example, if you buy $50 in gas on a card that has a 10 percent rebate, you end up saving 10 percent. That kind of discount can help offset recent gas price hikes and reduce the price you pay per gallon.

Gas Card tip for 'on the go' types:
When you apply for Discover® Gas Cards you'll get a free 2Go® key chain card. With other gas cards take a hole-puncher, punch a small hole in the lower corner (avoiding the magnetic strip) and put it on your key ring. It makes accessibility and availability a snap.

How to save big with a Gas Credit Card
It doesn’t matter if you drive a Hummer or a Geo Metro, the right tools can help you reduce the price of gas per gallon. The Internet is one of the best places to find hidden deals on gas. MSN Autos has a great gas locator tool that features the most comprehensive listings of gas prices anywhere. Although gas prices can change daily, we found some stations that offer 20 percent discounts on gas. Combine that with cash-back gas cards from Chase, Discover or Citi and you could save upwards of 30 percent at the pump.

Maximize Gas Credit Card benefits
If you use a gas card, try these tips to accumulate benefits faster and rack up rebates:
• Pay the entire balance on your gas card before it's due to avoid the monthly interest charge.
• If you get a gas card with a 0% introductory APR, paying the entire balance at the end of the introductory period will net you’re the most rebates.
• Look for a gas credit card that offers sign-up perks and bonuses.

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It pays to compare Gas Cards
According to USA Today, and Professors of Finance at RIT, Credit Cards that offer up to 10 percent in gas rebates can take the edge off soaring prices at the pump - as long as you don't dig yourself deeper into debt. Discover has a credit card that gives up to 5 percent cash back on gas purchases and up to 1 percent on other purchases. The Chase Perfect Card offers a 6 percent rebate on gas for the first 90 days the account is open and a 3 percent rebate after that. You can find better rewards but to get them, you may have to stick to one brand of gas. Chase has a Hess Visa Platinum Card and a Marathon Platinum MasterCard with up to 10 percent rebates.

You've probably noticed that card issuers are more aggresively marketing gas cards given the current economic climate. Should you get a gas credit card? It generally makes sense only if you pay off the balance each month. Accruing debt and then paying interest to save a few dollards at the pump doesn't make much sense.

Also, "If you're only going to spend a couple hundred dollars a month (the rewards) might not be worth the hassle of switching credit cards," says Robert Manning, finance professor at Rochester Institute of Technology and author of "Credit Card Nation." If you decide to get a gas credit card, shop around. Most have no annual fee, but rebates vary widely. As with any credit card, the issuer has the right to change features and fees on short notice.

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  Use our Tips with your new Gas Card and save up to 25%
         Lower your overall gas expenses by combining our gas credit cards with our mileage–saving solutions

1. Don't speed. Driving fast uses more gas.

2. Use cruise control for long highway drives. Maintaining one speed reduces gas consumption. Be sure to use the overdrive gear.

3. Avoid rush hour and think in advance about potential driving situations. Constant braking and starting–or extended idling–is bad news for your gas tank.

4. Reduce the amount of short trips you take. Instead of running errands at different times during the day, do some advance planning and take just one. Your engine will thank you.

5. Clean out your car – especially your trunk. Ridding your car of excess weight can improve gas mileage by two percent.

6. Don't neglect your car: replace the filters, monitor tire inflation, change your oil and get an engine tune-up. Keeping your car well maintained will reduce your overall gas consumption.

7. Fill your tank with the octane level your car needs. The higher the octane, the more you will pay.

8. Contrary to auto manufacturers marketing hype...avoid premium brands, premium octanes, or additives.

9. Trade in your gas-guzzler for a more fuel-efficient car. Experts say that it can save you at least $2,200 a year.

10. In addition to using a gas credit card with rebates...find the lowest price in your area by using autos.msn.com. These two actions alone can have a combined savings upwards of 20%.

11. Start a Car Pool and have all the riders chip in for gas. Plus, you'll get to your destination much faster by using the HOV Lane.

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 Best in Category Gas Credit Cards:

1. The Chase PerfectCard Gas Credit Card
With surging gas prices, why settle for anything less than perfection in a gas credit card? With the Chase PerfectCard Gas Credit Card, you don’t have to. You earn rebates every time you purchase gas at any gas station you choose. That’s right, this gas credit card places absolutely no restrictions on where you choose to fill up your tank.

In addition to great rebates, the Chase PerfectCard will save you money on today’s rapidly rising gas costs with the following key features and benefits:

Low Rates and Fees
• 0% introductory APR on balance transfers for 12 months
• No annual fee

Reap the Rewards
• Earn a 6% rebate with every gas buy gas for the first 90 days
• Get a 3% rebate every time you buy gas after the 90 day introductory period
• All rebates are automatically credited to your monthly credit card statement—all you have to do is buy the gas!

Other Benefits
• Automatic extended warranty protection and “purchase assurance”
• Receive up to $500,000 in automatic travel accident insurance

Online Services
• Chase Bill Management Center
• Request credit increases
• Request convenience checks and balance transfers

2. The Discover Open Road Card
We recommend The Discover Open Road Gas Card based on value, consumer demand and popularity. It offers you the best gasoline rewards program currently available in the USA with a FULL 5% Cashback Bonus®. The key features and benefits of The Discover Gas Credit Card include:

• FULL 5% Cashback Bonus® on your gas purchases ! ! ! Repeat... A FULL 5% Cashback Bonus®
• 0% Intro APR*
• No Annual Fee
• This gas credit card is accepted nationwide at thousands of gas stations
• Up to 1% Cashback Bonus® on all your other purchases
• Cash rewards never expire as long as you use your Card.
• DOUBLE your Cashback Bonus® (turn $20 into $40) when you redeem for gift cards or certificates from over 40 partners.
• 100% Fraud Protection
• Online Account Access and Bill Payment
• Free Discover 2GO® Card – (a cool little mini-card that hangs on your keychain)
• Good Credit Required

• Fill your tank and really drive your Cashback Bonus® with the Discover® Open Road Gas Card. You’ll enjoy a 0% Introductory APR*, no annual fee, 100% fraud protection, online account access and bill payment, and superior 24-hour Cardmember service.

• Plus, with America’s #1 Gas Credit Card Rewards program you’ll receive up to 5% Cashback Bonus® on your gas purchases and up to 1% Cashback Bonus® on all your other purchases. No need to worry because the cash rewards never expire as long as you use your Card. You also have the option to DOUBLE your Cashback Bonus® (turn $20 into $40) when you redeem for gift cards or certificates from many of our 40 brand name partners. Start Saving Today – APPLY NOW! It's fast, easy and secure.

• Enjoy Rewards on the Run and Accelerate You Savings. The Discover 2GO® Card is a compact-sized companion to your existing Discover Card. Attach it to your keys. Slip it into your pocket. Drop it in your purse. It’s small, lightweight and ready when you are. Plus, it’s easy to use, builds your Cashback Bonus®* and it’s FREE.

• Cashback Bonus® is the only cash rewards program that gives you complete earnings freedom – free rewards that never expire as long as you use the Card. The Cashback Bonus Program gives you the most redemption choices of any cash rewards program: check, electronic deposit to any account, credit to your Discover® Card Account, gift cards or certificates from our partners.

• Cashback Bonus® is the only cash rewards program that lest you double the value of your reward with many of our brand name partners.*View Discover® Card rates, fees, rewards and other important Information.

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Pay less at the pump with a Gas Card
The previous tips are crucial given the current state of gas prices. Using a gas credit card on top of these tips will make buying gas less of a financial burden. As usual, be sure to read the fine print before signing up for a gas credit card. We make it easy and fast to apply for a gas card online.

What’s the bottom line?
The right gas card can definitely help cushion the blow of astronomical gas prices. You still need to do your homework and shop around before you decide on a gas card. Most gas credit cards have low introductory APRs and no annual fees, but rebate accumulation and redemption can vary from card to card.

Read the side-by-side comparisons of gas credit cards to discover the card that best fits your needs. We make it easy and quick to apply for a gas credit card card online.

Bottomline...Multi-branded Gas Cards (not just a specific Gas Company Card) are FAR more flexible and beneficial to your bottomline than cards targeted for just a single Gas Station. Use them for all your purchases, you'll be amazed how the nickels and dimes add up.

Did this article help you understand Gas Cards? Share it with friends & family....Bookmark this page and e-mail them the URL.

Kezia Pearlman, Analyst, Frankford Financial ©2008