Electric vehicles (EVs) are growing in popularity as Americans seek to reduce gas costs. While EVs don’t require gas, they need to be charged. In response, banks are offering more credit cards that provide rewards at charging stations. Not every rewards card treats charging station costs equally. Thanks to how the transaction is categorized, you may leave rewards on the table with some cards. This guide discusses the best credit cards for EV charging, tips to maximize earnings, and key factors like charging location to boost your rewards.
Our top picks for the best credit card for EV charging
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How do credit card rewards work for EV charging?
Whenever selecting an EV charging credit card, it is important to know how the issuing bank categorizes the transaction. Although you may use the card at a charging station, it doesn’t mean you’ll earn optimal rewards.
Public charging networks that usually earn gas rewards
Issuing banks traditionally don’t consider what you buy to determine rewards, but the category it falls within. These merchant category codes (MCCs) help calculate your rewards. Relative to using a credit card for EV charging, you may earn a bonus at one station and the base tier at another.
Generally, certain charging networks are classified as gas stations, helping you earn the bonus tier. Those networks include:
- EVgo
- ChargePoint
- Electrify America
- Blink
- Shell Recharge
Review your card’s terms and conditions to confirm that EV charging stations qualify for a gas bonus category.
Why Tesla Superchargers are often the exception
If you’re looking for the best credit card for Tesla charging, Superchargers don’t always earn bonus rewards. Some networks categorize sessions as a Tesla purchase, not a gas purchase.
Bank of America, for instance, states that Tesla may qualify in the gas and EV charging category. That doesn’t guarantee all merchants will follow through. It’s best to test out a small session to learn if your selected credit card earns in the bonus category before using it as your main card for EV purchases.
How Costco Gas and warehouse-club chargers are handled
Credit cards usually label EV charging as a club purchase, not gas. In this case, sessions only earn the base rate.
The Costco Anywhere Visa® Card by Citi and Sam’s Club MasterCard are the two exceptions. Users can earn 4% cash back, up to $7,000 in spending annually, and 5% on the first $6,000, respectively.
Home charging vs. public charging: Which card fits your habits?
EV users can charge in two different locations, at home or on the road. Choosing the best EV charging credit card means knowing where you charge most and how that affects rewards.
If you charge mostly at home
Charging your EV at home appears on your utility bill, not as a gas purchase. The average monthly cost to charge an EV at home is approximately $62, per Kelley Blue Book (KBB).
The U.S. Bank Cash+® Visa Signature® Card is a good option to maximize rewards. Users can designate two categories to earn 5% in combined eligible purchases, like utilities. For a person using a 1% cash back card, they will earn $7.44 annually, but the U.S. Bank card pays $37.20, and that’s before any other utility expenses.
If you rely on public fast chargers
Public charging is commonly more expensive than home charging. Public charging can cost up to $0.60 per kWh; per KBB, heavy users may spend $200+ monthly.
Choosing the right card matters more here. The Citi Strata Premier® Cardis a good example. It offers 3x points per $1 spent on gas and EV charging. A person spending $241 monthly can earn $87 annually vs. $29 on a flat 1% card.
If your charging is split between home and public
You likely won’t do all your charging in one location. Reports show that most EV owners charge at home most of the time, according to the U.S. Department of Energy.
Consider whether you charge 70% of the time at home. In that case, emphasize utility rewards. If you primarily charge on the road, select a card with gas and EV rewards. You may benefit from using a two-card approach to maximize rewards.
How to maximize rewards on EV charging
EV charging cash back credit cards are helpful to use, but don’t stop there. Being strategic can boost your return.
Stack card rewards with charging network memberships
Charging networks may assess a membership fee to access stations. Electrify America, for instance, charges $7 monthly, and you receive 25% off charging.
If you spend $40 a session and use the Citi Strata Premier® Card, you receive 120 points for the session plus the discount. Fortunately, Electrify America isn’t the only membership with a discount.
Pair your EV card with a card that covers a bigger category
Don’t focus so much on EV-charging rewards that you ignore spending in much larger categories. A practical way to avoid this is to pair one of the best credit cards for EV charging with a card that lets you squeeze more value from bigger spending categories, like groceries or travel.
Don’t overlook annual fees and do the math to ensure you receive the most value from your card combination.
Watch for rotating quarters when EV or gas is the 5% category
Some credit cards have rotating quarterly categories that pay 5% back on purchases. Chase Freedom Flex® is one example. Users can earn 5% cash back on $1,500 in combined purchases each quarter.
The issuer often features gas and EV charging for a quarter. When it occurs, you must activate it to receive the bonus.
➤ LEARN MORE:Chase Freedom® quarterly rewards categories
What are the alternatives if you mostly charge at home?
Earning rewards is attractive, but most EV owners charge at home most of the time. Knowing available alternatives is beneficial.
Credit cards that reward utility bills
If you primarily charge at home, a utility card may be a wiser choice. The U.S. Bank Cash+® Visa Signature® Card 5% back on utilities, up to $2,000 in purchases quarterly, if you make it a choice category.
The Bank of America® Customized Cash Rewards credit card is another option, offering 6% cash back in your choice category for the first year (then 3%). This rate applies to up to $2,500 in combined quarterly purchases across your choice category, grocery stores, and wholesale clubs; purchases after reaching the cap, or in non-bonus categories, earn 1% cash back.
Free charging bundled with new EV purchases
You may not even need a credit card for EV charging in some cases. Several manufacturers include free public charging when you buy a new car, per Cars.com, including:
- General Motors – two years free at Flying J
- Volkswagen – three years free at Electrify America
- Tesla – potential Supercharger credits
Read the terms and conditions to understand what you will receive.
Charging network subscriptions and rewards debit cards
Saving up to 30% on public charging may be more valuable to some users than earning 1-3% on a rewards credit card. That’s even including the subscription fee at networks like Electrify America or EVgo Plus.
If you want to avoid another credit card, a rewards debit card is a good alternative. The PayPal Debit card is one option that pays 5% back on categories of your choice, up to $1,000 in monthly spending.
Is a dedicated EV charging credit card actually worth it?
Using a credit card for EV charging can be advantageous, but only under certain circumstances. Knowing your charging habits is essential to determine whether you need one.
Who benefits — and who probably doesn’t
Specific drivers will find an EV charging credit card helpful. Those include:
- High-mileage drivers who primarily use public chargers
- Households with both gas and EV cars
- Public charger primary drivers
- Costco members who charge at Costco
Not everyone should consider a card for EV charging. These people include:
- Low-mileage drivers
- At-home primary chargers
- EV owners with free charging included with their purchase
Do your due diligence to determine whether you need an EV-specific credit card. If it will only provide $20 in annual rewards, it’s not enough to justify a new card.
The middle ground — use a card you already have open
In some instances, you may find the card you already have is good enough for your needs. Before opening a credit card for EV charging, take inventory of your cards to see whether one offers a higher bonus for EV transactions.
The Citi Strata Premier® Card is one example. It pays 3x points on every $1 spent on EV charging. It does the same with food spending and travel. The Wells Fargo Autograph® Card is another one that pays 3x points at restaurants, EV charging, streaming, and more. If you have one of these, you likely don’t need a new card.
Frequently asked questions
Finding the best credit cards for EV charging requires homework. These are questions readers have when searching for top choices.
Do all credit cards with a gas category reward EV charging?
Do I earn rewards on Tesla Supercharger sessions?
Do I earn rewards on home EV charging?
What credit score do I need for the best EV credit cards?
What if I drive both a gas car and an EV?
Can I put my home Level 2 charger installation on a rewards card?
Are there credit cards specifically designed for EV owners?
ON THIS PAGE
- Our top picks for the best credit card for EV charging
- How do credit card rewards work for EV charging?
- Home charging vs. public charging: Which card fits your habits?
- How to maximize rewards on EV charging
- What are the alternatives if you mostly charge at home?
- Is a dedicated EV charging credit card actually worth it?
- Frequently asked questions
