The Best Credit Cards to Deal with Gasoline Prices
CreditDonkey compares fees, rewards and interest rates
LOS ANGELES -- With gas prices hovering at $3.92 nationwide, CreditDonkey.com, a credit-card comparison site, reviewed the top deals and compiled their latest list of the best gasoline credit cards to help consumers save at the pump.
Acknowledging that the right credit card depends on the consumer's individual circumstances, CreditDonkey.com compared generous rewards, low interest rates, low fees and helpful benefits to determine the best credit card deals for purchases at gas stations.
"Consumers who pay in full should look for generous rewards. In contrast, consumers who carry a balance should focus on low interest rates," said Charles Tran, founder of the credit-card comparison website. "Unless you are building credit or are a high spender, most consumers should opt for credit cards with no annual fees."
CreditDonkey.com recommended three types of gas credit cards this spring, depending on the individual's needs:
Restaurants and Gas: For individuals constantly on the road and eating out at restaurants, consider a gas credit card that also offers bonus cash back at restaurants. "While household budgets remain constrained, nearly half of consumers still indicate restaurants being an essential part of their lifestyle. By using a credit card that offers more cash back at restaurants, you can stretch your dining out budget," Tran said.
Groceries and Gas: For individuals looking to save on their household grocery budget, consider a gas credit card that also offers bonus cash back at grocery stores. "With the average household spending 13% of their budget on food, using a credit card that offers more cash back on groceries is usually a good bet," Tran said.
Small Business and Gas: For small-business owners looking to fight back against the rising cost of gas, consider using business gas credit cards to earn rewards. "While telecommuting is on the rise, there is still a need for entrepreneurs to meet clients, deliver goods and visit vendors," Tran said.
CreditDonkey.com allows consumers to compare credit-card offers. The website publishes reviews, deals and tips to help Americans make informed credit decisions.