The
savings from gas cards are from the rebates that are earned every time
the card is used to pay for gas purchases. Typically, gas cards come in
two types- prepaid and credit. A prepaid card is a card that have been
preloaded with a chosen specific amount. The good thing to using this
type of card is that you usually get a discount when buying load for
the card. Moreover, prepaid cards helps you control gas money spending
since there is a limit to the amount of the card. The downside however,
is the irrecoverable balance on the card once the card is lost or
misplaced.
Gas credit cards on the other hand, works just
like
typical credit cards. Only that in using gas credit cards, you earn
more for gas purchases. Every time you pump gas, you earn rebates which
are currently somewhere between 3% to 5%. The rebates are accumulated
in the form of rewards points and depending on the type of card, can be
redeemed into a cash back reward. There are some card companies however
that offer other non-cash rewards such as airline tickets, merchandise
and gift certificates.
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Redeeming rewards may also vary from card
to card. Those that offer only cash back rewards usually automatically
credits the existing gas credit card or issue a check or gas gift card
in the amount equal to the rewards points. There are some card
companies however, that requires a request for redeeming rewards
points. These card companies are usually those that offer varied forms
of rewards. Thus, the request for redeeming rewards points also
contains the type of reward preferred.
As a salesman, you
generally spend more miles on your car than the average motorist. In
choosing gas cards, to really save money on gas, keep this in mind
since there are cards that have rebate caps. You may want to avoid
cards that will limit your savings.
The two most important things
to consider in choosing gas cards are the percentage rebate and the
annual percentage rate or APR. The percentage rebate of the card should
be the average to allow you to save big on gas money. The APR on the
other hand, should be the lowest percentage if you plan to maintain a
balance on the card. Remember that fees and interests can easily negate
your gas money savings.
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About the Author of How Salesmen
Save Money on Gas Using Gas Cards :
Gina Clark writes about financial related issues. Click here for
more gas saving tips and other ways to save money.
