Gas Credit Card Can Help Fill Tank Between Paydays
As gas prices continue to spiral out of control and more people are finding it difficult to make ends meet between paydays, they begin to turn to a gas credit card to help keep their vehicle fueled waiting for their next paycheck. Years ago, before most gas stations began accepting most major credit cards and even debit cards, a gas credit card issued by the gas company was the only way to charge their purchases at the local filling station.
Today, some companies offer a branded gas credit card that is available for use on more than fuel for their vehicle. With many of these cards, the user can also purchase snacks and other items sold in the gas stations, many of them more of a convenience store than the traditional station. Additionally, many of the card issuers also offer cash back incentives when the card is used at the gas company on whose brand the card is issued.
With the continued use of credit and check cards with which to purchase gasoline and other automotive products, issuing a gas credit card is one of the ways oil companies are using to improve their bottom line profits. If they can convince the cardholder, by offering incentives for their use in their stations, they can also help improve customer loyalty.
Many Cards Not Restricted To Gasoline Purchases
While there are some gas credit cards that are issued to fleet drivers that only allow for the purchase of gas at participating fuel retailers, many others are also able to be used by partner retailers. Even fast-food restaurants are joining with oil companies to allow the use of a gas credit card at their nationwide restaurants, providing that additional benefit to people who travel frequently.
In today's credit market, a company that limits the use of a gas credit card strictly to their own outlets may find competition with other credit card issuers too stiff and will open their cards for use in other businesses. However, for most people having a gas credit card can be the difference between going to work and running out of gas in the middle of the week.
Most users of a gas credit card use it exclusively for gas and oil for their vehicle, paying the entire balance when they receive the monthly statement. By insuring the balance is paid on time, they are not dragging out paying for their fuel purchase for several months and at the same time are reducing the interest paid for using their gas credit card.
