You may be familiar with cash back credit cards, but with rising gas prices you also have the choice of a gas credit card. They work similar to a cash back credit card except that you get a rebate that is much higher whenever you use the gas card at the pump.

Most gas stations have their own credit card and you can get a rebate up to 5% back on every gas purchase. Some cards also extend the rebate when you use the card for groceries or other purchases, but the rebate is usually limited to 1-2% when it is not used at the gas station. Your rebate can be credited either as an automatic statement credit or you can request a check.

You have to be aware that if you get a brand specific card like the BP Visa card you will only earn rebates at BP stations. If you always fill up at a BP station this is not a problem, but you may want to consider a card like the Discover Open Road Card that offers 5% on gas no matter where you purchase the gas.

Because of the fierce competition in the credit card industry you can be assured there will always be credit card offers available with extra perks. As an introductory offer you can get 10% rebate on all BP gas purchases with the BP card for the first 60 days and similar introductory offers can be found for credit cards from other gas stations. At the same time there is usually a 0% on purchases for 6 or 12 months. That means you can buy gas today and pay it off later without paying any interest.

If you like to keep track of your gas purchases a gas credit card can help with that effort. You get a monthly statement with a list of all your gas purchases and makes for easy calculation of your gas expenses and mileage. No matter what mileage your car is getting it will definitely have an impact on your savings if you get in the habit of using a gas card every time you fill up the vehicle gas tank.