Are Gas Credit Cards a Good Deal?
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iStock/Thinkstock(NEW YORK) — Almost every motorist wants to save on gas. One way to do it is to get cash back with a gas credit card. But are these cards a good deal?
Not really, says Matt Schultz of creditcards.com, explaining that “the average interest rate on them is about 24 percent.”
Even if you pay your bill in full each month, the gas card may not be worth it.
“What you get from them in terms of rewards isn’t what you could get from, say, just a generic cash-back credit card,” Schultz says.
Another thing to keep in mind: some gas credit cards have extra rules.
“You need to meet minimum thresholds of spending,” Schultz says, noting one of the potential requirements.
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