Gas rebate credit cards

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Gas rebate credit cards or gas cashback cards became popular in the United States in the wake of the 2000s energy crisis and the rising price of gasoline.

Benefits[edit]

The appeal of a gas rebate credit card is that cardholders obtain a sure percent of the sum they consume on gasoline each month in the form of a rebate check at the end of the year. It works similarly to a cashback discount recognition card with the exception that the gasoline discount is frequently applied each month, rather than each year, which makes the savings easier to view for most consumers.[1] Companies provide an average of 3% APR on new gas rebate credit cards.

Long-term contract offers[edit]

  • In July 2009, Hyundai offered its customers a choice between $1.49 a gallon for a year or $1,000 in cash.[2]
  • In May 2008, Chrysler offered $2.99 per gallon for 3 years.[3]

Fraud and theft at the gas pumps[edit]

Concerns over fraud have led credit card companies to limit the amount of gasoline a consumer can take during pay at the pump transactions.[4] One of the more famous cases of gas credit card usage was when television anchor Anne Pressly was attacked and then had her credit card used minutes later.[5]

Glitches at the gas pumps[edit]

Glitches can also compromise consumers such as the case in July 2009, where Josh Muszynski from New Hampshire, got charged $23 quadrillion dollars by Bank of America and Visa due to a credit card glitch.[6]

References[edit]

See also[edit]