Credit Tips: Gas Credit Card Offer

Posted On: July 1, 2005

Author: milavant
Title: Gas Credit Card Offer
Posted: Tue Dec 21, 2004 1:39 pm

I used to have a number of gasoline cards, such as BP, Exxon/Mobil, Citgo, etc. that I closed, due to the fact that they did not provide cash or gas rewards, like my AMEX, Mastercard, and Visa do.

I am wondering if I should reopen one or more of them, just to help my credit score (currently in the high 700s). I had a $1000 limit on Exxon/Mobil (generous for a gas card). If I reopened any one, that would be the one.

The problem is what would I use it for, since I have the Chase Perfectcard?

Is there any reason to have a gas card in my mix? I also have Sears and Meijer, as two store cards. I have a total of five cards now.

Author: Ira
Title: Gas Credit Card Offer
Posted: Tue Dec 21, 2004 10:45 pm

As I just said to another poster, there is no such thing as “reopening” a credit card account. Closed is closed. If you want to reapply for the same card it would be treated as a new application.

With regard to gas cards in general, every one that you mention offers a rebate program. BP & Exxon offer a 3% cash rebate for using their gas, + a 1% rebate on all other purchases. Shell from Citibank offers a 5% gas rebate. The Hess card from Chase offers a 5% rebate, but it is increased to 10% for the first 90 days. Citibank Platinum Prefered offers a 5% cash rebate on ANY brand of gas, + a 5% rebate on all super market purchases.

Should you have a gas card? It depends on your driving habits. If you’re a 40,000 miles a year road warrior like me, it’s almost manditory to have one or more of them (I happen to carry four). On the other hand if you drive only 10-12,000 miles a year it’s not going to make too much of a difference. You have to decide what’s best for you.

Author: bodeh6
Title: Gas Credit Card Offer
Posted: Tue Dec 21, 2004 10:54 pm

Yeah I definitely agree you need one. But not a branded one. The Citi Dividend Platinum Select is a great deal. 5% at drug stores, supermarkets, and gas stations and 1% everywhere else. And unlike some cards like Amex/Discover you get the 5% on any amount of the balance. It is not tiered like 0.25% on first $1000 then 0.50% on next grand or two. I love the Citi Dividend. Best credit card offer out there.