Now more than ever the fuel credit cards are going to be a hot item in the industry.  In the past many took advantage of the cash back rewards as well as the little discounts at the pump for using the fuel credit cards, but now with the price of fuel it seems more fuel credit cards are going to be added to the wallets.

What is the difference with the fuel credit cards as opposed to some of the other cards on the market?  There are truly only slight differences in the cards.  Many places such as Discover, Chase, and other banks are offering what they call fuel credit cards in order to help you save a little money where you would normally not be able to.  First of all with the fuel credit cards you will still have the introductory rates.  These rates for many of the credit cards will be a zero percent interest for a certain period of time.  Currently Discover offers the best for the APR introductory rate as it will last 12 months, while Chase has a credit card for 6 months of free interest.  The regular APR will start after that introductory period.  For most consumers you will be able to get the 10.99% interest rate.  This interest rate is of course based on your credit history, so make sure you have a good rating in order to get the lower APR.  There is no annual fee with most of the fuel credit cards.

 

When you obtain a fuel credit card it will depend on which card you have chosen as to the benefits.  With the Discover card example you will receive 5% cash back on your gas and auto maintenance purchases.  With Chase bank you can receive 6% for the first 90 days on gas purchases and then a 3% after 90 days.  The trick with this card is finding a gas station that will apply.  With Chase and other Fuel credit cards some of the gas stations are not part of the program.  So first you must see if the fuel card is worth it based on the gas stations you are allowed to use. 

Chase in particular tends to work with the BP stations for their 5% rebates on any purchase made at a BP gas station.  American Express also has a fuel credit card that offers an APR of 9.99% to their favorite customers. 

Among the other choices you have in fuel credit cards are Global Fleet, Fuel Right, Go Gas, and USAA.  All of these cards are going to offer some reward for using a gas station.  Some of the cards may offer less time on the introductory rate and more on the actual cash back, while others may offer just the opposite.  When you look for a fuel credit card you should be looking for something that will help you gain the most for the credit card.  A good policy to keep in mind is paying off the balance every month and only using the card for fuel purchases or gas station purchases.