0-apr-creditcards.com announces a plan on how gas rebate cards can save consumers big money. "As gas prices continue to rise we must find ways to combat the price hike. Gas Rebate Cards are wonderful for that" says Gerard Heitz president of 0-apr-creditcards.com. Purchasing gas is unavoidable for anyone that drives a vehicle. Even hybrid vehicles, although they use less of it, need gas to operate. With gas prices on a rise, many people are seeking ways to save on gas. While carpooling and cut backs on driving are viable options, these are not always the most convenient methods of saving on gas. Many people have found that gas rebate cards are extremely beneficial for saving money on gas. These rebate cards offer monetary incentives based on the amount of gas purchased. The most popular form of gas rebate cards are credit cards offered by companies that provide gas. These cards give back a percentage of each month&39;s gas purchase. Cardholders see this amount credited to their monthly balance. Ultimately, card holders of gas rebate cards pay less for gas than they would otherwise. The amount of the rebate depends on the percentage offered by the creditor. The amount varies from company to company. A cardholder could see anywhere from 1% to 5% rebate from a gas rebate card. The average among all the cards is 3%. Some gas companies offer a high rebate amount for an introductory period. This introductory period can last anywhere from three months to a year. During this period of time, cardholders receive the highest rebate available from that particular company. However, after this introductory period, the rebate percentage will drop.
Types of Available Cards
In most cases, gas rebate cards offered by the larger gas companies can only be used to purchase a specific brand of gas. These cards come with advantages and disadvantages. If a specific kind a gas is purchased the majority of the time, a brand-specific card would be of benefit. Since consumers already purchase this specific brand, they will not have to change their gas purchasing habits. There are some people that choose to shop around for the lowest gas prices rather than sticking to a specific brand. These people would not benefit as much from a brand-specific card. When traveling, it is possible that the brand of gas for which one has a rebate card is not available. There are some gas rebate cards that are not specific to a particular brand of gas. These cards are found to be more convenient because cardholders have the freedom to use their card at any gas station. Usually, these kinds of cards reward cardholders with percentage points for general purchases in addition to gas purchases. The reward percentage for these general purchases is often a few percentage points lower than what is received for gas. For example, cardholders might receive 3% rebate for gas purchases, while receiving 1% for other kinds of purchases made with the card. Gas rebate cards that provide rewards for gas as well as other kinds of purchases have various methods for rebating rewards to cardholders. Sometimes these rewards are in the form of a credit to the balance on the credit card. This credit is usually seen on the statement at the end of each month. In other cases, the reward is received as a gift card for a brand of gas or a vendor. When rewards are made in the form of a gift card, they are seen on a less frequent basis, like annually, or semi-annually.
Restrictions and Disadvantages
While there are some obvious advantages to using a gas rebate card, there are some restrictions involved that can cast the cards in an unfavorable light. Since these restrictions vary among cards, it is best to find out associated restrictions before applying for a card. Some cards only reward rebates for payments made at the pump. Any gas purchased inside the gas station at the counter will not receive the rebate. This restriction is not imposed very often since most people find it more convenient to pay at the pump. However, there might be a rare situation in which the cardholder needs to make the payment inside the store. If this restriction applies, one should be aware that a rebate will not be received for this purchase. The best way to get around this stipulation is to use the rebate card at the pump whenever possible. Other card companies impose limits on the amount of rebates that a cardholder can receive in a period of time. For example, once the cardholder has received $500 in rebates during a year, they will not receive additional rebates until the next year. Depending on the reward percentage rate, this limit might not ever be reached unless one purchases gas frequently or several people in a household use the card. Most people are aware that gas rebate cards have the highest interest rate of all cards available. Cardholders that carry a balance from one month to the next will find that the total amount paid is much higher than if they had paid the balance in full the first month. Letting the balance carry over into a new month ultimately nullifies the benefit of the rebate reward.
Choosing a Card
Since there are so many different kinds of cards and rebates available, it is best for prospective applicants to research cards and their rebates to make an informed decision. The best kind of gas rebate card to choose is one that does not place limits on the amount of rebate that can be received during a period of time.
For more information visit: http://www.0-apr-creditcards.com/gas-rebate-cards.htm
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