If you're serious about saving money on gas, consider using more than one credit card. You can exploit all the benefits of each card. Then when you reach the rewards limit, simply switch to using your other credit card.
Ideally you could find one credit card that could give you high cash back rates with no limit. Unfortunately most gas rebate credit cards have limits on the rebates you can earn. Once you reach the rebate limit or the introductory period expires, the cash back percentage decreases. Suddenly your 5% gas rebate credit card only gives you 1% back. Most people would keep using the credit card out of habit. Often they don't even realize that they are getting less cash back.
What is stopping you from using more than one rebate credit card? Don't settle for the roll back rebate percentage. When the credit card company reduces your rebate percentage, switch to another card that will give you reasonable rewards. With this strategy, you could get high cash rebates all year.
Before attempting to juggle multiple credit cards, carefully read each credit card's terms and conditions. To make things difficult, each credit card has its own formula for earning rewards. For example, most gas rebate credit cards start with high cash rebate percentages. Then once you spend a certain amount, your rebate rate goes down. General cash rebate credit cards tend to be the opposite. Those cards start with a low cash back percentage that increases as you spend more. That type of credit card would be best used exclusively.
Sometimes a particular gas station offers a really good credit card, but is only applicable at their gas station. Take advantage of that offer and use a different rewards card if you purchase gas elsewhere. When the gas station attendant asks for your rebate card, be proud that you are one of the smart people saving money.
Another thing to watch out for is credit cards that have a minimum total purchase for rebate eligibility. You might only qualify for rebates after you spend a few thousand dollars. Plan your spending and figure out which credit cards would work best together. Also remember to be responsible with all your credit cards and pay them off in time.
Each gas rebate credit card is different. So to really save money on gas, your strategy should be to use the best credit card for each purchase, even if that means owning multiple credit cards. If your credit card doesn't always give you the best deal, do something about it. Don't be afraid to add another credit card to your wallet.
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