Think you don't need a gas credit card? Think that Visa and MasterCard are enough? Well my friends, a gas credit card may be more convenient than you think. Here are five reasons why you might want to consider one.
1. Pay Less for Gas
With the way gas prices have been lately, who wouldn't love constant discounts? Many gas cards offer just that with generous rebate programs. Some cards offer up to five-percent back in the form of rebates. If gas is $3.00 a gallon, that's a discount of 15 cents. If you drive an SUV like me, that's a savings of $6 a tank! That can really add up over the course of a year.
2. Shaky Credit?
If you've got a tarnished credit history but want the convenience of charging your gas purchases, then a gas credit card may be just what you need. Many of these cards have more lenient credit requirements, which means that you may qualify for one even if you don't have the best credit standing and have been turned down for other cards in the past.
3. The Fleet Deal
Have a business with multiple vehicles? A fleet card may be a valuable tool. With fleet cards you can manage your business's fuel expenses and some cards even offer volume discounts on the gas you purchase. When it comes to your business's bottom line, every penny counts and fleet cards can be priceless.
4. Easy Budget Management
If you manage your gas credit card properly, it can be a very valuable analysis tool. If you use your card to purchase gas only, you can see exactly how much you're spending on fuel each and every month.
If you notice a drastic increase in fuel consumption and you know the increased spending isn't due to price hikes, you'll know something is awry with your vehicle. If you try to change your driving habits to reduce the amount of fuel you use, you'll be able to see if the changes are really working.
5. No Temptation
For those who just can't resist the temptation to spend when they have a major credit card in their wallet, gas credit cards can be a problem-solving solution.
You can use the card to build up your credit history and pay for gas purchases without having to fight the temptation of "impulse" shopping at the local department store.
It's true that the gas credit cards of yesteryear had their problems. Ridiculous interest rates and unfavorable terms abounded. Nowadays, however, this segment of the financial industry has changed and these cards have much more to offer. If you've avoided applying for a gas credit card in the past, you might want to rethink that decision.
