How Attractive Are Gas Credit Card Rebates?
Are oil and gas credit card rebates really that attractive? It may sound so good to hear a credit card that lets you enjoy rebates on using your card on your car's gas up requirements, especially during these times of sky rocketing gas prices. According to a research, in 2007, credit card companies mailed out a whopping fourteen million direct letters for gas and oil credit card rebates. Everyone is really tempted to grab a card, but is it really worth the cost? There are downsides with taking deals of gas credit card rebates.
Here are the reasons why you might like to bite the seemingly attractive deals of oil and gas credit card rebates. First is the introductory rate versus the reality rate issue. One card supposedly gives away ten percent rebate on your purchases of gas and oil. But it is valid or offered within the first sixty days that you use this card. After that, the gas credit card rebates dip to five percent. This is good if you stick with their partner gas company. This may not sound new to everyone, but think about it, you are better off with cards that only offer five percent cash back but returns one percent of the purchases you make.
Another very obvious reason why gas credit card rebates are not attractive is the fact that these credit card issuers hold your cards. Most of these credit card issuers put a small notice somewhere in the card that says "terms and conditions are subject to change without prior notice". Most of the time, they don't even inform their members at all leaving them naïve of new terms that will literally scare their wits. This is especially true when issuers find out that their users only use their card for gas purchase. Users then end up with a mail stating that their gas credit card rebates dropped to two percent.
"Well, what's the harm, at least I've got gas rebates", says you. But not that quick! You have to know that not every gas station in the country is eligible for rebates. In order for you to fully enjoy five percent rebate, you have to gas up on stations that are standalone, which definitely means warehouse gas stations are excluded.
What is really worse is that your gas credit card rebates could be held up. When you don't act quickly on it, all your rebates would go to waste. So if you are really into this, make sure you follow up and request that your rebates be transferred to your account. Now, it's time for you to decide, if it's attractive to sign up for gas rebates.
