Small business owners can save money on travel expenses with small business credit cards that offer gas rebates. These cards can provide cash back on gasoline purchases, in addition to cash back on other types of purchases, which results in a significant savings for the business.
Whether your business is large or small, sole-proprietorship or otherwise, as long as you do some level of travelling for your business, gas rebate credit cards will benefit you.
How Gas Rebates Work
Cardholders of gas rebate credit cards will get a percentage of the gas purchases back, as long as they charge it to their credit card. The principle is the same as most other rebate programs. The best gas rebate cards will allow cardholders to get their rebates every month, rather than having to wait an entire year in order to gain access to their rewards.
Types of Gas Rebate Credit Cards
Station Specific Credit Cards
These cards tie the savings into purchases made at a specific station. This is perfect for those businesses that purchase fuel only at a specific brand of gas station. Examples of these types of cards are those issued by Shell Gas Stations, BP Gas Stations and many others. These brands would usually form a partnership with a recognized credit card issuer, so that the cards would display the Visa or MasterCard logo, and could be used to make purchases elsewhere.
The rebates for gas purchase are normally higher on station specific cards, with rebates falling anywhere in between 3-5%. Rebates of 1% can be earned on purchases made outside of the gas station.
Any Station Credit Cards
These cards are perfect for businesses that are not loyal to any specific brand of gas station. Rebates can be earned on gasoline purchases made at any gas station. The rebates offered can vary from anywhere between 1-5%. Examples of these cards are the Chase PerfectCard MasterCard or the Discover Gas Card.
Using Your Cash Back Cards To Earn Gas Rebates
If you are hesitant about applying for a gas rebate credit card, you can also use your cash back credit card to earn a percentage back on your gasoline purchases. With a cash back credit card, you can earn between 2-5% on all your purchases, including your gasoline purchases. The rebate that you get all depends on the provider.
Things to Look Out For When Choosing A Credit Card That Offer Gas Rebates
Annual Fees: Some of these programs do not include an annual fee, but watch out – the interest rates will be higher. These cards are perfect if you pay off your account balance every month.
Conditions: Check the terms and conditions before you apply to find out if there are any specific conditions that you should know of. These include limitations on the rebates that can be earned, other fees that are included, how the rewards are earned, what the interest rates are and how the rewards are paid. This last point is important since some programs specify that you must request the rebate in order for it to be paid. If you wait too long to request it, then you can lose it completely.
Some programs include an introductory offer that will expire within months or one year after you join. Make sure that you identify what benefits are only introductory, and be clear what the new rates will be beforehand, so that you are not taken by surprise.
As competition continues to increase, there will be more and more offers and better deals to save money for your business with gas rebate credit cards. Always ensure that your provider can match these rewards, and if they can’t, you can always cancel your account and move on to another provider whose benefits will help you get more for your business.
Compare the offers and choose the provider with the best gas rebate credit cards.