Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

multigraincracker

(34,075 posts)
Mon May 2, 2022, 05:16 AM May 2022

Gas prices are up roughly 40% from just a year ago. So you may want to try this method to get 'basic




https://www.marketwatch.com/picks/gas-prices-are-up-roughly-40-from-just-a-year-ago-so-you-may-want-to-try-this-method-to-get-basically-free-money-for-gas-but-theres-a-catch-01651429655?mod=mw_latestnews&tesla=y

But the actual value of these cards depends on whether or not you carry a balance. “If you’re able to pay your credit card bills in full and avoid interest, the rewards you earn are basically free money. The average credit card charges 16.43% and the average gas card charges 25.8%, so you can see how paying interest can quickly outweigh the value of your rewards,” says Rossman.

That said, “gas rewards cards can be a good option for folks who typically spend a lot of money on filling up the tank each month,” says Schulz. “It depends on how much you spend, where you fill up most often and what other things you spend on,” says Schulz. Rossman recommends the Sam’s Club Mastercard, as it gives 5% back on gas purchased almost anywhere, not just at Sam’s Club — up to $6,000 annually. And the Costco Anywhere Visa gives 4% cashback on up to $7,000 in annual gas purchases.

But the actual value of these cards depends on whether or not you carry a balance. “If you’re able to pay your credit card bills in full and avoid interest, the rewards you earn are basically free money. The average credit card charges 16.43% and the average gas card charges 25.8%, so you can see how paying interest can quickly outweigh the value of your rewards,” says Rossman.


I have a couple of credit cards and pay them off every month. So, the cash back on other items more than help with the big picture. For the most part I always pay cash for fuel as I don't trust the card reader at gas stations.
1 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Gas prices are up roughly 40% from just a year ago. So you may want to try this method to get 'basic (Original Post) multigraincracker May 2022 OP
I've got back into the habit of waiting for the monthly credit card OnDoutside May 2022 #1

OnDoutside

(20,656 posts)
1. I've got back into the habit of waiting for the monthly credit card
Mon May 2, 2022, 05:37 AM
May 2022

Cut-off date before making big purchases, giving me iirc 56 days credit, and paying the CC bill just before the next cutoff date.

Latest Discussions»Support Forums»Frugal and Energy Efficient Living»Gas prices are up roughly...