It used to be that gas credit cards were the credit cards you applied for when you needed to improve your credit history. Nowadays, that's no longer the case. Gone is the era when all gas credit cards offered was a high interest rate and welcome to a day and age when these financial tools have become must-have pieces of plastic.
1. Kiss High Interest Goodbye
If you think carrying a gas credit card means paying interest rates of more than 20 percent, you may want to think twice.
Gas credit cards are no longer the money guzzlers they used to be. Nowadays you can get a gas credit card with an interest rate of well below 20 percent. Just shop around and you'll find plenty of low-interest gas credit cards available.
2. Combat Those Gas Prices
Most of us do what we can to make our gas dollars stretch. Who can blame us with the way gas prices have been going? Usually, saving gas money means conserving gas and changing driving habits. After all, it's not like you can find coupons for fuel discounts in the local paper.
While you may not be able to find coupons for 25 cents off a gallon of gas, you can use gas credit cards to save money at the pump. Many gas credit cards offer money back or gas rebates when you use the card to pay for your gas purchases.
While it may not seem like a lot, a gas rebate of 5 percent can equate to 15 cents a gallon. That's taking a $3.00 gallon of gas and lowering the price to $2.85. Considering some people would drive across town to get that kind of a price break, gas credit cards are looking better and better as prices go up.
Just remember, pay those balances in full each month or your rebates won't cover the finance charges you accrue.
3. More Than Just Gas
Some gas credit cards offer added perks that have nothing to do with gas stations or fuel. Some gas credit cards have been known to offer dining rebates, double cash back bonuses and other great perks.
If you haven't considered gas credit cards lately, you may want to give them another glance. After all, many of us have been saying that gas is like gold -- so maybe a gas card is like a gold card? Check out the current deals and you may be surprised that many of the gas credit cards out there really have a lot to offer.
There really are an amazing variety of credit cards available to today’s consumers; the number of options is simply staggering. Virtually every company around these days has some form of affiliated credit card option available to its customers. While most of these cards are affiliated to one of the major credit card brands, such as Visa, Mastercard, or American Express, they still represent a major source of options from which to choose from. That is why it is important the go back to basics, and remember what are the fundamental reasons you opt for a credit card in the first place.
Below are some of the reasons we look for credit cards and some of the features we should be able to find in them, if they really are as good an offer as they claim to be.
-Is the credit card offered by a company you know and trust?
-What is the annual percentage rate (APR) for the card?
-Is this a temporary, introductory or permanent rate?
-What is the credit limit they have offered you?
-How often are you billed?
-How are repayments calculated and is the outstanding balance free of interest if you pay off the full amount each month?
-Are there other charges or fees associated with the card?
These are all important questions you should be asking yourself before sending that application form back to the company. However, while these may seem like straightforward questions with simple answers, they may not be as clear cut as they seem.
For example, your bank will usually be a company that you are familiar with and know you can trust. However, this does not automatically mean you should accept a credit card from them. This is not because the terms will be unfavourable compared to other lenders but rather because you should be thinking of the consequences if you prove unable to repay your credit card bills. While it is no doubt a serious matter to fall behind in credit card payments, for most people, this will be even more serious if this is also their bank that controls their mortgage and other finances.
Also, while the APR will be calculated in a standard way for all lenders, this is not the only aspect of the price of the card that you should be looking at. While the APR may seem attractive, it will be less so if the company levy hefty charges for late payment or reserve to right to alter your interest rate in the future.
Also, if your choice of credit card is based on the rewards that are being offered by that particular card, you should take into consideration any of the small print associated with the awarding of these rewards. For example, did you know that if you go above your credit limit with certain credit cards you forfeit all rewards that would have been awarded on your spending in that month? Also, the same may apply if you fail to make at least the minimum payment in any given month, the credit card company may withdraw your rewards for this too.
In short, while getting your hands on a credit card may be easier today than it has been in the past, and there are a host of companies out there willing to lend to you, you should remember that credit card agreements are complex contracts and you should think about all the aspects of it before you get involved.
Both Max Anderson & Joseph Kenny are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Max Anderson has sinced written about articles on various topics from Credit Card Offers, Credit Cards and Business Credit Cards. For more tips on getting the best , saving money and avoiding getting taken, check out CreditCardTipsEtc.com, a website that speci. Max Anderson's top article generates over 49500 views. to your Favourites.
Joseph Kenny has sinced written about articles on various topics from Credit Cards, Debt Consolidation and Credit Cards. Joseph Kenny is the webmaster of the UK credit card comparison site , where you can find a selection of. Joseph Kenny's top article generates over 550000 views. to your Favourites.