Sunday, February 5, 2012

Best gas credit card for 2012

In my North County San Diego and Orange County blog, I like to not only provide you with information and details about the local real estate market and property values or local MLS search but to also provide you with some financial tips to help you better manage your money.

Growing up in France, I never had a credit card till I moved to the United States. I didn't even knew what it was really, since the concept was far beyond our family values in regard to spending money and credit cards are just now getting popular in France in the last 5-7 years or so. I know why my grand parents were successful entrepreneurs, they had three valuable things going for them: they both were born during "The Great Depression", they started to work very young by necessity and they would never buy anything if they couldn't buy it cash.
So when I got married to my husband many years ago and he told me I "needed" a credit card to establish myself in the U.S, it was a tough pill to swallow for me. I was even disappointed when the bank gave me a $1,000.00 credit card as my very first credit card not knowing it was in fact a great card for a first card.
I'm glad I listened to him and did it! I know now why it was so important to him that I go for it and nurture my credit since this is a very important tool in our American society. Today credit is critical, from getting a cell phone, applying for a job, to have access to military clearance or getting a car or purchase a home, credit has to be cultivated and not disregarded.
I'm still not a credit card advocate and rather use cash or by debit card but it's a necessary evil.
If you need some help with improving your credit, don't hesitate to ask me!

Looking for the best gas card for a little relief at the pump? It’s not as simple as picking the highest listed rewards rate. Since I have just acquired a new SUV, I spent some times looking all over the Internet for the best gas credit card for 2012. Here are below some valuable tips if you are looking for a gas credit card from a great savvy website named Nerd Wallet.

Gas credit cards with over 1% rewards at the pump:

Credit CardGas Reward Bonus RateDollars per Month of Gas Spend That Qualify
Chase BP Visa5% at BP$500 (enough for a $25 gift card)
Chase AAA (Northern Cal, Nevada, and Utah Chapter AAA members only)5 points per $1 spent at gas stations$500
Top pick, if you have ridiculously good credit and are willing to jump through hoops
In order to get this card, you must donate $20 to an organization in order to join a credit union. Also, less than 0.5% of the people who have applied for this card through our site have ever been approved.
PenFed Platinum Cashback Rewards
5%No Limit
American Express Costco True Earnings Business4%$500
Top pick for fuel and food
Amex Blue Cash Preferred
3%No Limit. Also get 3% at department stores and 6% on groceries.
Top pick for no-fee cards
Chase Freedom
3% average$1,500 in bonus spending/quarter
Discover More3% average$1,500 in bonus spending (Q1&2)
Gulf3% at GulfNo Limit
US Bank FlexPerks Business Cash Rewards3%No Limit
Citibank AT&T Universal Business Rewards3%No Limit, but 100,000 total point limit per year
Chase Ink Cash and Classic2%$25,000 in 2% bonus purchases/year
Amex Blue Cash Preferred3%No Limit. Also get 3% at department stores and 6% on groceries.
Top pick, if you fill up at Costco
American Express Costco True Earnings
Nationwide Business Platinum Visa3%No Limit
Bank of America Cash Rewards for Business3%No Limit
American Express Hilton Honors Surpass3%, based on our estimate of Hilton Honor Point Value (6 points/$1 * 0.5 cents/point)No Limit
American Express Hilton Honors3%, based on our estimate of Hilton Honor Point Value (6 points/$1 * 0.5 cents/point)No Limit
Bank Americard Cash Rewards3%$1,500 per quarter limit on gas and groceries
Top pick for overall rewards
Capital One Venture Rewards
2%No Limit. Earns 2% on all purchases.
Citi Dividend Platinum Select2% average$300 in rewards/year
Citizens Bank Accelerator Rewards Platinum2% (10% for first 3 months)No Limit
Amex Blue Cash Everyday2%No Limit. Also get 2% at department stores and 3% on groceries.
Discover Business2%$167
Discover Business Miles2%$416.67 ($5,000 per year limit on double miles for gas & travel)
Discover Open Road2%$250
Discover Student Open Road2%$250
AAA Rewards Card (for members not in Norther California, Nevada, or Utah)2%No Limit
Capital One No Hassle Cash Rewards2%No Limit
Citibank Dividend Platinum Select for College Students2%No Limit, but $300 total rewards limit per year.
MINI Platinum2%No Limit
Quicken Rewards Visa2%$2000 per month between Gas, Grocery, Pharmacy, Office Supply
American Express Premier Rewards Gold2%No Limit
United Mileage Plus2% (Double Miles at gas stations)No Limit
Fifth Third Bank Rewards2%$500
Capital One Tigers LSU Credit Card2% (2 Points per $1 at gas stations and grocery stores)No Limit
WorldPoints Business Rewards2% (2 Points per $1 at gas stations)No Limit
Cards offered via Elancard, including: Heartland Bank Platinum Business RewardsComerica Bank Business RewardsPlatinum Business Rewards from ENT Credit Union2%No Limit
Capital One Cash1.5%No Limit. Earns 1.5% back on all purchases
Citi Hilton Honors1.5% (3 Points per $1 * 0.5 cents per point value)No Limit
Citibank ThankYou Premier1.2% (1.2 ThankYou Points per $1)No Limit, but 100,000 total point limit per year
First National Bank of Omaha Graphite AmEx2%None
First National Bank of Omaha Discover2%, sort ofIf you spend exactly $13,750, you get 2% back on everything, if not, you get less.
First National Bank of Omaha Maximum Rewards Platinum1.2% (1.25 points/$1)No Limit
First National Bank of Omaha Maximum Rewards Visa Signature1.5%No Limit

It’s not just about the rewards rate

The Costco Factor
  • Costco has cheap gasoline, but most gas card programs exclude wholesalers from their 2%-5% gas category reward rates, somewhere in the fine print.
  • In fact, it’s probably safe to assume that the only way to get more than 1% rewards pumping gas at Costco is with the Costco True Earnings card, or the Costco True Earnings Business card. The fine print on these cards explicitly states that Costco qualifies for the bonus reward rate.
  • Card issuers that explicitly ban Costco gas from their “gas reward rate” include American Express, and Citibank.
  • Costco only accepts American Express.
Cheap Gas Stations, like ARCO.
  • Gas stations such as ARCO in California often charge about 5%+ less than other gas stations, but only if you pay in cash. They accept debit cards at a surcharge. Clearly, you should not pump with a 5% card at Shell if you are just as happy with ARCO gas which costs ~9% less.
Diesel, Airplane Fuel, Marine Fuel, and Huge Gas Tanks
  • Many cards, such as the Shell card only pay bonus gas reward rates for gasoline, not diesel fuel.
  • Many cards, including Shell and PenFed Platinum Cashback Rewards don’t pay bonus gas reward rates for airplane or boat fuel.
  • Many cards have restrictions on the maximum number of gallons you can pump each time (e.g. 75 gallons with the Amex Costco card), or with the maximum you can spend each time ($400 with the American Express Blue Cash card). Check the fine print first!

:: Thank you for your continued gifts of referrals (local or out of area) they show your trust and confidence in my business! ::
Angélique Kenney | Certified professional real estate sales person: Realtor®, CRS (Certified Residential Specialist: elite top 4% of Realtors® in the U.S), GRI, e-Pro, SFR(short sales/foreclosure negotiator), ILHM member (Luxury Marketing Institute), SSR (Sport Star Relocation:Professional athletes)
International Properties | Luxury Estates Certified | Corporate & Military Relocation Specialist | Constant Top Producer | Fluent in French | CA DRE#01846783, ID, HI
  : +1 (760) 282 - HOME (4663) | Fax: +1 866.422.0641

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