If you’re out there driving around, you feel the gas price surge in your pocketbook. In barely a month, prices have surged more than 30%, from under $3.00 a gallon to over $4.00 (link). That is directly a result of US war against Iran, which is constraining supply, materializing in the prices we pay across all transportation. One very easy thing to partially mitigate this expense is take advantage of the array of high-earn gas cards available.
The basic math of a 5% gas card
- Assumptions: ~$200/month on gas (household average in 2024, per BLS source referenced), 5% back on card (see below)
- Total gas spend: $200/month (or 50 gallons @ $4.00/gallon, approximate average end of March’26)
- Total rewards earned: $200 x 5% = $10.00 back per month (per gallon this is $4.00 * $0.05 = $0.20/gallon discount)
There are an array of solid gas cards (not comprehensive list, there are a range of credit unions and fee products which offer high earn rates, too!)
- Bank of America Custom Cash Rewards | 6% on selected category for the first year, gas stations or many others, up to $2,500/quarter spend | link
- AAA Travel Advantage | 5% on gas & EV charging + 3% travel/restaurants/groceries, capped $12,000/year spend | link
- Citi Custom Cash | 5% on top spend category (includes gas), capped at $500/month spend | link
- Citi Costco Anywhere Visa | 5% on Costco gas, 4% on other gas & EV charging (gas capped at $7,000/year spend) + 3% travel/restaurants/groceries + 2% Costco | link
- PNC Cash Rewards Visa | 4% on gas + 3% dining + 2% groceries | link
The truth is I’ve historically not had a dedicated gas card myself, as my own spend is so relatively low.
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