Gasoline cards don’t fuel rewards

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Gasoline-brand-specific credit cards typically provide savings of 10 cents per gallon at the pump, but one analyst says you’d be wise to pay the full price and use a cash-back credit card instead.

Gas cards have an average annual percentage rate of 24.1 percent, compared with 14.9 percent for general-purpose credit cards, and often put more restrictions on users, according to a CreditCards.com survey that was published in March 2015. For instance, some cards require a minimum purchase or put a ceiling on monthly benefits. The value of the discounts that users receive doesn’t add up to what consumers would receive from a cash-back credit card, says Matt Schulz of CreditCards.com

Schulz says gas cards make sense for consumers who have trouble qualifying for a credit card, because it’s easier to receive approval for a gas card.