Best Gas Credit Cards

Are you looking for the best gas credit card now that we have $4 gas? Fortunately we have personal finance blogs to cut through the fluff and tell you straight which is the best card. Right now, the best gas credit card appears to be the American Express SimplyCash® card. It offers 5% cash back on gas and they credit it directly to your account. No shenanigans about requesting a check over $50, depositing a check, waiting, sometimes forgetting to request it, etc. Credit directly to your account FTW!

The only concern is that it’s a business card, which means you have to have a business right? Nope. You can apply as a sole proprietorship, use your social security number as your EIN, and you’re in luck. This is entirely legitimate and there are no tax implications of doing so.

The other cards mentioned, the Discover Open Road and the American Express Costco TrueEarnings cards are less desirable. The Discover Open Road limits your cashback to $20 a month (first $100 in purchases) and the TrueEarnings card has an annual fee unless you’re a Costco member (and is only 3% cashback, 5% for the business card version). You are better offer with the SimplyCash card.

Discover Get More Q3 Promotion: Gas, Hotels

Discover has released the details of their third quarter Get More promotional areas, which were listed as Gas Stations and Hotels:

Get going this summer and get 5% Cashback Bonus on up to $400 in gas and hotel purchases from July through September. [Source: Discover]

5% on $400 is only $20 but every little bit counts, it might be better to try one of these gas cashback cards instead.

Hypermiling 101

What is Hypermiling? Hypermiling refers to all the tactics you can use to get as many miles as possible out of a gallon of gasoline. It’s coasting when you see a red light, it’s following the posted speed limit, it’s avoiding the brake whenever possible, and it’s even giving your car a push before you start it. It’s all hypermiling. If you think you’re up to the task, here are a few good resources to get you started.

  • Wired’s HOW TO Hypermiling Guide - Wired’s guide to hypermiling has five basics tips and five advanced tips. I personally think you can skip the advanced tips and stick with the basic ones and you’ll do fine.
  • Blueprint for Financial Prosperity’s Realistic Hypermiling - You have the fanatics and you have the average joes, here are some realistic hypermiling tips.
  • Epistolary: Here’s some solid hypermiling advice from my friend Rob.
  • Hypermiling.com - Of course, here’s the original hypermiling.com homepage.

Good luck!