Discount Gas Cards
Using discount gas cards, gas membership cards, or gas rewards cards can save you roughly 1-3% on your gas each year. The average person spends around $2000 a year on gas, so the savings translate to $20-$60 a year in savings. This may seem small and not worth the effort, but the fact is, most discount gas cards require no more effort than swiping them before swiping your card to pay for the gas. That little effort for $20-$60 is worth it. There is no other inconvenience as you are going to fill your tank anyway, so why not save yourself some money while doing it?
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Of course, there are ways to use discount gas cards to save even more on gas. Let's look at some examples:
Example one: Getting a cash back or rewards credit card. Some gas stations will offer you a credit card that has a cash back or rewards program. For every dollar you spend on the card you get a percentage back in cash, or a point towards rewards. If you get a gas credit card the way it typically works is as follows: On most purchases you get 1% back, on gas purchases you get 3% back. Or, for every dollar spent you get 1 point, but for every dollar spent at the store the card is for (Chevron for example) you get 4 points. When you reach 1000 points you are mailed out a ten dollar gas card reward.
Example two: Club memberships. Many club membership places, like Costco or Sam's Club offer gas at a discount. The discount is typically about five cents less per gallon than the price of gas in the area. This means for the average vehicle (a ten gallon tank), your savings are fifty cents each time you fill up. If you fill up once a week, that is equivalent to $25 a year. This is a nice savings for doing nothing more than filling your tank after you do your grocery shopping.
Example three: Grocery store rewards cards. Some grocery stores have affiliated gas stations that you get a predetermined discount at depending on how much you spend at the grocery store. So, for example, if you spend $30 or more you get five cents off per gallon. If you spend $75 or more you get ten cents off per gallon. If you spend $125 or more you get fifteen cents off per gallon. If you do all of your grocery shopping together and hit the fifteen cents off per gallon level, then that is $1.50 in savings for a ten gallon tank, or $75 a year in savings. That is nothing to sniff at, and again requires little effort.
So how can you save even more? Try combining the cash back gas rewards credit card with some of the other options. If you get a discount using your Costco, Maverick, or other membership card, and then use your rewards credit card to pay, and you get 3% back on what you do spend, you will save close to $100 a year on gas. If you combine the credit card with the grocery card savings you could save as much as $150 a year.
