paul23
06-21-2008, 06:16 AM
With gas prices soaring up the ceiling, people who drive are focused on saving every penny they can on gas. And the use of gas cards is getting much attention. So, what exactly are gas cards? Generally, there are two types of gas cards, the prepaid gas card and the gas credit card. The prepaid gas cards are loadable cards that you can be preload to a certain amount. On the other hand, the gas credit card is just like any ordinary credit card, only that it gives better offers if used to purchase gas.
The advantage in prepaid gas cards is that it is often sold at a discount. For instance, you can load up a card for a $100 and buy gas for more than that amount. This card is good to use for people on a budget, students mostly. They can easily load the card up to their gas budget for the period and they only get to use that amount for the period since there is only that amount available on the card. Of course this still entails a certain amount of discipline on the part of the user since reloading can be easily done. The downside to using prepaid gas cards is when you loose the card. When that happens, you can’t recover the remaining balance on the card and you’d be forced to get a new one. Another downside is that some cards expire in a short period.
Gas credit cards on the other hand is otherwise known as gas rebate cards since they offer rebates or rewards for gas purchases. Although, the card can be used for other purchases, it can be maxed up by purchasing gas. Gas rebates are usually from 2% to 5% or even a 10% on introductory periods. Depending on the type of card, rebates are usually in the form of cash back or rewards points. There are some cards that offer rebates for every purchase and many accumulate reward points for every purchase. These rewards are usually redeemable after billing periods and some are redeemable upon request.
The key to saving gas mileage is to find the card with the right mix of rates and rewards. For prepaid cards, scout for one that gives the highest discount and one whose expiration you can work around with. Looking for the right gas card on the other hand is a more tedious task. There are many things to consider and one of them is the introductory rates. The introductory rates, such as a higher rebate can be very attractive but do analyze cards according to their long term value. Another thing to consider is the annual percentage rate or APR of the gas card if you consider maintaining a balance on the card. Although, the trick to maxing up gas credit cards is to pay the bill in full so you do not have to pay for interests, using gas money for something else as important is unavoidable. Choosing a card with a lower APR would lessen your interest payable once you maintain a balance.
Gas cards can be a good way to save money. You only have to know how gas cards work and look for the right gas cards that offer great rewards.
For more info See: GasCardsGalore.com
The advantage in prepaid gas cards is that it is often sold at a discount. For instance, you can load up a card for a $100 and buy gas for more than that amount. This card is good to use for people on a budget, students mostly. They can easily load the card up to their gas budget for the period and they only get to use that amount for the period since there is only that amount available on the card. Of course this still entails a certain amount of discipline on the part of the user since reloading can be easily done. The downside to using prepaid gas cards is when you loose the card. When that happens, you can’t recover the remaining balance on the card and you’d be forced to get a new one. Another downside is that some cards expire in a short period.
Gas credit cards on the other hand is otherwise known as gas rebate cards since they offer rebates or rewards for gas purchases. Although, the card can be used for other purchases, it can be maxed up by purchasing gas. Gas rebates are usually from 2% to 5% or even a 10% on introductory periods. Depending on the type of card, rebates are usually in the form of cash back or rewards points. There are some cards that offer rebates for every purchase and many accumulate reward points for every purchase. These rewards are usually redeemable after billing periods and some are redeemable upon request.
The key to saving gas mileage is to find the card with the right mix of rates and rewards. For prepaid cards, scout for one that gives the highest discount and one whose expiration you can work around with. Looking for the right gas card on the other hand is a more tedious task. There are many things to consider and one of them is the introductory rates. The introductory rates, such as a higher rebate can be very attractive but do analyze cards according to their long term value. Another thing to consider is the annual percentage rate or APR of the gas card if you consider maintaining a balance on the card. Although, the trick to maxing up gas credit cards is to pay the bill in full so you do not have to pay for interests, using gas money for something else as important is unavoidable. Choosing a card with a lower APR would lessen your interest payable once you maintain a balance.
Gas cards can be a good way to save money. You only have to know how gas cards work and look for the right gas cards that offer great rewards.
For more info See: GasCardsGalore.com