Simple answer: Use a 5% cash back credit card
With the rise of gas prices all over america reaching as high as $5.00/gallon, saving a few cents on a gallon of gas here and there can net substantial savings over time.
Most gas stations in America nowadays accept credit cards, with the notable exception being Arco.
The trick is to leverage the benefits offered by credit cards. By now you may have noticed 1% cash back credit cards, or even 3% cash back on a category of your choice offered by some of the major banks.
But did you know that there are special credit cards that offer cash back as high as 5% on gas?
Here is the list of all of the absolute best cash back credit card for gas:
AFCU Platinum Cash Back Visa — by Aerospace Federal Credit Union
Arguably this credit card may actually be the top place for some people. Due to its astounding cash back on its other categories, this card is not only great for gas, but also dominates its competition in dining (comparable to the infamous Uber Visa), entertainment (unmatched), as well as 2% cash back on all other purchases. A stellar card overall that some may say is even better than the Ducks Unlimited.
- Cash Back on Gas: 5% (capped at $7000/year)
- Cash Back on Dining & Entertainment: 4% (capped at $9000/year)
- Cash Back on Travel: 3% (capped at $12,000/year)
- Cash Bank on All Other Categories: 2% (No Cap)
- Cap on Cash Back: Variable Cap
- Annual Fee: No Annual Fee
Application Link: AFCU Platinum Cash Back Visa
Fort Knox Visa Platinum — by Fort Knox Federal Credit Union
If you had applied for both the Ducks Unlimited and AFCU Platinum Cash Back Visa and was denied — then the next best gas back card you should go for is the Fort Knox Visa Platinum card. Just like the Ducks Unlimited, it offers the same lucrative rewards, the only downside is that you have to apply to be a member of the Fort Knox Federal Credit Union first.
- Cash Back on Gas: 5%
- Cash Bank on All Other Categories: 1%
- Cap on Cash Back: No Cap
- Annual Fee: No Annual Fee
Application Link: Fort Knox Visa Platinum
L&N Platinum Rewards Cash Back Visa — by L&N Federal Credit Union
Last but not least is the L&N Platinum Rewards Cash Back card offered by L&N Federal Credit Union. This one surpasses the over Fort Knox slightly due to its additional introductory offer. Again the same rewards are offered here as well.
- Cash Back on Gas: 5%
- Cash Bank on All Other Categories: 1%
- Cap on Cash Back: No Cap
- Annual Fee: No Annual Fee
- Extra Benefits: 0% Introductory APR for 6 months on new accounts for purchases and balance transfers. Earn $50 cash back for $1,000 in purchases in the first 90 days.
Application Link: L&N Platinum Rewards Cash Back Visa
What about the Citi Bank Costco Anywhere Visa?
Its worse than every card on this list in terms of gas. If you look at its benefits:
- Cash Back on Gas: 4% (capped at $7000/yr)
- Cash Back on Dining & Travel: 3% (No Cap)
- Cash Bank on Costco & Costco.com: 2% (No Cap)
- Cash Bank on All Other Categories: 1% (No Cap)
- Cap on Cash Back: Variable Cap
- Annual Fee: No Annual Fee
- Requires Costco membership
Every single card here beats the Costco card in terms of gas. In terms of the other categories AFCU Platinum Cash Back Visa single handedly beats it in every category.
In addition you can use any of these cards to get Costco gas. Just enter your membership card in first then slide one of the following cards, and you get an additional 1% cash back from Costco’s already cheap gas. The costco card isn’t a bad card; but when there are better options, why settle?
