It's not surprising how the use of gas cards has increased recently. Gas prices have hit record levels. Actually, they are twice than last year. Using gas cards can actually reduce the pinch at the gas pump. If you aren't a gas card user yet, don't miss out on this great opportunity t stretch your gas money. But before you start using one, take time to choose the right card for you. Explore your options; compare gas cards.
The first criteria you must consider in choosing a gas card is the cash pay out. According to this criterion, there are two types of gas cards: prepaid and credit. Using the prepaid card will mean no hassles of paying your balance at the end of the billing period however, you loose your card balance in the event that you misplace or loose or card.
If you go for the credit type, then your next criteria in choosing your card should be the annual percentage rate. This is the rate that is charged against the balance of your card-if you maintain a balance. Gas cards have higher rates than the average credit card so it will be best to choose a card that has the lowest rate. However, it will be best not to maintain a balance on your card if you want to maximize your gas credit card.
The third most important thing is the percentage rebate. Actually, this should have the same importance as the APR. The percentage rebate is the rate that is charged against your gas purchases. In short, this is your gas savings. Normally, percentage rebates are between 2% and 5%. The highest percentage can be easy to find but they usually carry high APRs. This won't be a problem for you if you do not plan to maintain a balance on your card. Cards with low APRs usually have lower percentage rebate, so, you should weigh your options carefully. Interests can undermine your savings.
Explore your options well and don't miss out on this great opportunity to stretch your gas money!
Want to start saving using gas cards? Visit http://www.GasCardsGalore.com
Article Source: http://EzineArticles.com/?expert=John_F_Smith
The first criteria you must consider in choosing a gas card is the cash pay out. According to this criterion, there are two types of gas cards: prepaid and credit. Using the prepaid card will mean no hassles of paying your balance at the end of the billing period however, you loose your card balance in the event that you misplace or loose or card.
If you go for the credit type, then your next criteria in choosing your card should be the annual percentage rate. This is the rate that is charged against the balance of your card-if you maintain a balance. Gas cards have higher rates than the average credit card so it will be best to choose a card that has the lowest rate. However, it will be best not to maintain a balance on your card if you want to maximize your gas credit card.
The third most important thing is the percentage rebate. Actually, this should have the same importance as the APR. The percentage rebate is the rate that is charged against your gas purchases. In short, this is your gas savings. Normally, percentage rebates are between 2% and 5%. The highest percentage can be easy to find but they usually carry high APRs. This won't be a problem for you if you do not plan to maintain a balance on your card. Cards with low APRs usually have lower percentage rebate, so, you should weigh your options carefully. Interests can undermine your savings.
Explore your options well and don't miss out on this great opportunity to stretch your gas money!
Want to start saving using gas cards? Visit http://www.GasCardsGalore.com
Article Source: http://EzineArticles.com/?expert=John_F_Smith
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