Here are ways to ease the pain at the pump.
Last month I published ways to maximize points per dollar at Amazon.com. Now, with gas prices rising through the roof, it’s time to look at what we can do to ease the pain at the pump. There are quite a few really good options, but each depends on which credit cards you carry. If you carry a card that automatically gives extra points for gas station purchases (such as, for example, the PenFed Platinum Rewards Card at 5X), then you may already be maximizing your savings. Otherwise, read on:
Blue Cash Preferred:
This card already gives 3% cash back for gas purchases, but you can do better! Since the card gives 6% cash back for grocery purchases, you can go to your local grocery store to buy gas gift cards and receive 6% cash back! Even better, if you shop for gas cards at either Giant Eagle or Kroger grocery stores, you can earn additional gas discounts through their rewards programs!
Chase Freedom:
In the first quarter of 2012, gas stations and Amazon.com are the 5X bonus categories for the Chase Freedom card. As long as you register for the promotion, until the end of March gas station purchases will be rewarded with 5 Ultimate Rewards points per dollar, up to $1500 for the quarter. After the first quarter, not all is lost. Take a look at the Freedom’s bonus category chart:
- Q1 (January – March): Gas stations and Amazon.com
- Q2 (April – June): Groceries and movie theaters
- Q3 (July – September): Gas stations and restaurants
- Q4 (October – December): Hotels, airlines, Best Buy and Kohl’s
Q1 is already covered. In Q2, note that groceries are on the list. Many grocery stores carry gas station gift cards. So, from April to June, rather than using your Freedom card at the gas station, go to your grocery store to buy gas gift cards. In Q3, gas stations return to the bonus category list so you can go back to using the Freedom card directly at gas stations. In Q4 you may be out of luck unless you can find gas gift cards at Best Buy or Kohl’s.
Chase Ink:
The Chase Ink Bold, Ink Classic, and Ink Cash cards offer 5 points per dollar for purchases at office supply stores. So, using your Ink card, visit an office supply superstore such as Office Depot and load up on gas gift cards. Note that I’ve seen gas gift cards at Office Depot, but not at OfficeMax. I haven’t looked yet at Staples.
American Express Business cards
Most American Express business cards give you American Express OPEN Savings. This means that, for purchases at certain merchants, you get money credited back to your account. One example is OfficeMax in which you receive 5% back for purchases of $100 or more. If you can find gas gift cards at your local OfficeMax then you can save 5% on all gas purchases! Note, though, that my local OfficeMax does not appear to carry gas gift cards so this may not be possible unless the OfficeMax near you carries them.
Other Cards
If you hold a credit card that offers bonus points in certain categories such as groceries, drug stores, office supplies, etc., then check to see if your local stores carry gas gift cards. Find a store that qualifies and use your card to load up!
Icing on the Cake
Many gas stations charge more for credit card purchases than for cash. With gas gift cards, though, you will be charged the cash price!
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With Chase Freedom, if the reward is 5% back on gas, can you buy a gift card at the station and still get the 5% back? Most stations are now charging extra if you use credit cards and would prefer to get the gift card ahead of time and save even more.
Dan: Yes, if you can buy gift cards at the gas station they should count for 5% back when the quarterly award is for gas.
link for ya
http://www.officedepot.com/a/products/551677/20-Gasoline-Gift-Card/
aznprzn: Thanks for the tip! I am worried, though about the Office Depot T&C in the Ultimate Rewards Mall:
Office Depot has gas giftcards thru the portal Office Depot @3 points and then Ink it @5 total of 8 per dollar
Gas points are pretty useful now-a-days! It seems gas prices are raising tremendously, DAILY! Since it’s such a timely topic I just wrote a blog post with some tips on how to save money on gas. I didn’t include anything about gas reward points, but I would love if you checked it out and let me know what you thought! I put some useful information in there!
http://www.attorney-newyork.com/blog/from-the-blog/11-tips-to-help-you-tackle-rising-gas-prices/
Hi, for freedom card, by grocery store, do you mean like Lucky’s or like Safeway? Thanks, getting freedom this week 🙂
I love the ‘icing on the cake’ tip!
Love the icing on the cake tip!
The Pentagon Federal Credit Union Visa card gives 5% cash back for gasoline purchased at the pump. Anyone can join the credit union. You can find full details of this offer on my website, http://www.freefrequentflyermiles.com, in the Credit Cards > Free Cards > Cash Back Cards section.
Gary Steiger: Thanks for the info! I love your site, by the way. It was one of the first resources I discovered when I first got into this miles and points hobby!
Also, Hilton Amex offers 6 points per dollar for gas. Also, want to let you know that your blog is quickly becoming my favorite…I love the way you think trying to extract the most points in every situation…just the way I think!
Don’t forget that Citi has a thank-you card that give 5 points per dollar for the first year Gas & Groceries.
yes you can buy gas cards at staples but they are usable only at specific gas stations.
aznprzn: Thanks for the info. Yep, I stopped by a Staples today and saw Shell gas cards there.
Dana: Thanks for the info about the Citi card.
Randy: Thanks! Hilton 6X can be thought of as a 3% rebate since Hilton points have a fair trading price of .5 cents. That’s not as good as Freedom’s 5X, but better than most cards.
@MichaelP, can you explain your math?
Tom Thumb is currently offering 4x gas reward points on MOST gift cards. $250 in gift card equals $1/gal off gas.
tcardmall.com/retailerall.aspx
MichaelIP: Thanks for the tip about Tom Thumb! For those interested, here is the URL with more info: http://www.tomthumb.com/IFL/Grocery/RewardPoints
And, info from their FAQ: Which Gift Card purchases earn points?