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?
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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.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 of $1,500 in combined purchases.
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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