Q: I get reimbursed mileage from my job. I would like to start using a reward card for just gas purchases. What is the best card for that?
Reimbursable business expenses are one of the best ways you can rack up bonuses from rewards credit cards. Today's most competitive gas rebate cards can convert your fill-ups into a source of extra cash:PenFed Platinum Cash Rewards Visa® Card
If you really intend to use a dedicated rewards credit card just for your gas purchases, you'll love this deal from PenFed. With the Plus version of the card you can earn 5 percent cash back on your "pay at the pump" gas purchases as long as you have a qualifying PenFed product such as an active checking account with direct deposit ($250 min) or money market savings account to name a few. With the Plus Card there is no annual fee. If you choose the Standard version of the card you can earn 3 percent cash back on gas purchases paid at the pump and can take advantage of an introductory annual fee of $0 the first year and after that the annual fee is $25. As a side note fuel purchases for airplanes and boats do not receive cash back rewards with either version of this card. If this offer interests you be sure to read the terms, conditions and limitations before you apply.
Although PenFed's credit union charter was designed to serve military personnel and their families and employees of the U.S. government anyone can apply for membership status by joining either the National Military Family Association or Voices for America's Troops with a low one time fee. Check PenFed's website for details. However membership to the credit union does not guarantee you will be eligible for the PenFed Platinum Cash Rewards Visa Card, you will need excellent credit to be considered for this card along with any other application requirements requested by PenFed.Blue Cash Preferred® Card from American Express
If you think you might occasionally use your rewards credit card for more than just fill-ups, this credit card for those with excellent credit offers 3 percent cash back on gasoline purchases at U.S. gas stations. Grocery purchases at U.S. supermarkets count toward 6 percent cash back for up to $6,000 in transactions per year. Terms, limitations and restrictions apply.TrueEarnings® Card from Costco and American Express
You can cut your employer in on some savings if you happen to hold a Costco membership card. American Express matches the 3 percent gas cash back from the Blue Cash Preferred Card, and includes gas stations attached to Costco warehouse clubs in the offer, up to $4,000 per year in purchases, then 1 percent. Since Costco discounts gas by a few cents per gallon compared to stand-alone gas stations, you'll save your employer some cash while still earning an annual rebate. Terms and restrictions apply.Chase Freedom®
Pentagon Federal Credit Union and American Express both offer credit cards for excellent credit. If you've got a few dings on your credit report, but you still want to get great cash back rewards when you pay at the pump, check out Chase Freedom. Chase is currently considering applicants with both good and excellent credit for this credit card. Although you'll earn just 1 percent cash back on your gas purchases throughout the year, Chase offers quarterly promotions that can ramp that reward up to 5 percent, however you need to enroll each quarter and cash back is subject to quarterly maximum spend.
Although you may see some gas credit cards advertised with stronger cash back and perks, remember that you could end up paying more to fill up with a preferred brand. The gas cash back cards on our list let you earn rewards just about anywhere.
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