San Antonio

Are gas credit playing cards, club memberships worth it?

SAN ANTONIO – With gas costs nonetheless excessive, it pays to be a savvy gasoline shopper. But is getting a gas credit card or becoming a member of a warehouse club worth it?

“Many cards issued by gas stations or oil companies pay you back a few cents per gallon of gas, like 5 cents or 10 cents, rather than a percentage of your purchase. So, when gas prices are moving up from $3 to $4 or $5, that benefit is worth a lot less,” mentioned Consumer Reports’ Money Editor Penny Wang.

Instead, she recommends in search of a credit card with no annual price that gives rewards, like 5% money again on gas purchases.

Although many gas stations supply a lower cost for those who pay with money as a substitute of utilizing a card, the cardboard’s cash-back reward may truly be a greater deal.

One instance is the Citi Custom Cash Card, which provides you 5% money again in your prime spending class every billing cycle — for as much as $500 in purchases. That contains gas.

For instance for those who purchase 16 gallons of gas at $3.40 per gallon, the overall is $54.40. A five-cent per gallon low cost would prevent 80 cents. But 5% off would prevent $2.72.

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Other choices are warehouse golf equipment, reminiscent of Sam’s Club or Costco, which provide their very own credit playing cards that pay you again a share in your gas purchases.

If you do a number of driving and suppose you’ll attain the cardboard’s cap, think about using that card solely when shopping for gas.

If you don’t belong to a warehouse club, now’s a great time to think about it. Their gas costs are sometimes among the many lowest.

Monday morning in San Antonio, gas was posted at about $3.29 a gallon.

Those gas reductions alone could also be worth the membership price, though particular person financial savings will fluctuate relying on mileage.

To max out your reductions, attempt to mix them with different rewards applications at any time when you may. Many gas manufacturers have their very own apps that supply a couple of cents off per gallon, and so they don’t require a gas-branded credit card. So you should use your rewards credit card to pay on your gas as a substitute.

Apps reminiscent of Trunow and Get Upside can even prevent 25 cents a gallon. You take an image of your receipt, load it to the app, and also you get money again.

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