How To Save Money With A Gas Rebate Card
A gas rebate card is becoming much more popular as the price of gas has been increasing. It is important to understand the terms of the gas rebate cards as many times what is advertised in the introductory offer and what is detailed in the fine print can be quite different. Gas rebate cards tend to offer a percentage discount or rebate on any gas purchased.
Many times a gas rebate card will offer savings of between 5-6% as an introductory offer. However for the vast majority of all cards this savings will only apply for the first few months. Then after that period is over the savings will drop to between 2-3%. The terms and conditions are also variable as they are not fixed and they can change on you in an instant. Make sure you read all of the terms and conditions before accepting the card.
You will also need to realize that many gas rebate cards only offer rebates at specific gas stations. To receive the full rebate you will have to go to a standalone stations. Also the savings you may be receiving from the rebates may not be savings at all as gas rebate cards tend to have much higher interest rates then traditional credit cards. If you carry a balance on your credit cards then it is advised that you do so on a low interest card and not the gas rebate card.
A few gas rebate cards are tricky in that you need to actually send in a request to receive your rebate wither as credit or in the form of a check. Many times you will need to reach a specific limit or the rebate will disappear. This is how frequent flier miles have recently changed, as you must use them within a year.
It is possible to get some good savings from gas rebate cards but you will have to be very creative, such as purchasing a pre-paid discounted gas card using your gas rebate card, so you get a combined savings on gas.
