Gas credit cards allow its card holders to save some money for every fuel fill. Usually, these cards allow the card holder to have 3% or 5% cash back for their fuel expenses. Moreover, each time you purchase gas, you will also earn reward points which you can then present to gas stations in exchange for incentives, discounts, and more. If you reach a certain “quota” provided by the credit card company, you can even request for your rebate in the form of cash checks.

Getting yourself your very own gas credit card will not only allow you to save some money through rebates and discounts. It can also help you keep track of your gas expenses. Such can be highly important for someone who is in a tight budget, and for businesses that needs to manage their business expenses tightly. Gas station credit cards are also perfect in times of emergencies when you are traveling far from home and then you suddenly find yourself at the brink of temporary bankruptcy. Having a gas credit card in your pocket will provide with the security that you need if you are always on the road.

The Benefits of having the top Gas credit cards

Discover Open Road

This gas credit card pays its cardholders 5% rebate out of their total gas expenses. In addition to gas cash rebates, the user will also receive 5% cash backs from automotive expenditures and 1% on all the other purchases that is made using the card. If you are a frequent purchaser of automotive parts, then this card is right for you.

Chase BP Visa® Card

This card provides a 5% rebate for your expenses on BP gas, 2% on restaurant and travel expenses ( flight expenses, hotel accommodations, car rentals, and more), and 1% on general purchases. Moreover, if you avail of the special limited offer of this card, you can get your rewards at twice the rate for the first two months of card use.

Chase Freedom(SM) Credit Card

This gas credit card offers its cardholders with 3% cash back on gas, utility, and restaurant expenses. In addition to that, you will get 1% back from your other expenses made through the card. Moreover, if you apply for this card during its promo period, you can get $50 off on your second purchase.

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Since a credit card is considered as a financial resource, you should always make it a point to choose the best card. If you simply apply for the first reasonable credit card offer that comes your way, you might end up having inflated debts that may be very difficult to handle. That is why you have to make a very smart and informed choice when you shop for credit cards. Below are some key questions that you ought to consider.

What kind of card is it?

There are many kinds of people who use credit cards. As such, the finance industry has devised various types of credit cards that can suit the needs of varied customers. Before you grab a credit card offer, make sure that you really understand what type of credit card is being offered to you.

How are you going to use the credit card?

The type of credit card that you will apply for should match how you are going to utilize the card. If you are planning to consolidate your credit card debts, then you ought to get a balance transfer credit card. On the other hand, an airline rewards card or a gas rebate card may be suitable for you if you are fond of traveling and driving around. Shopping rewards cards will fit the avid shopper and a secured credit card will surely match the qualifications of someone who needs credit repair.

What’s the annual percentage rate?

The annual percentage rate (APR) plays an important part in your card fees. This is the percentage that will be applied on the balances that you have after the grace period. If the APR is high, there is also a very good chance that you will end up having an inflated debt.

How long is the grace period?

This shows the amount of time that you have in order to pay for your balance before you will be charged with a finance fee. The best credit card offers are simply those which have longer grace periods.

What are the fees?

Aside from the usual finance fee after the grace period, there are also other fees that may be applied to credit cards. Such include the annual fee, the late or missed payment fee, and the over-the-credit limit fee. Some credit card companies will also charge fees for payments made over the phone, requests for check returns, and requests for additional copies of your billing statement.

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Two types of Target Credit Cards

Basically, there are two varieties of Target credit cards- the Target Red card and the Target Red Card Visa. Both of these types are offered by the National Target Bank.

Target Red Card: This is the store credit card variety offered by Target Bank. It can be used for purchases from Target or www.target.com, an online shopping website. What’s good about this card is that it can used even by people who still have no credit and bad credit histories. Some even see this card as an opportunity to rebuild their credit rating.

Target Red Card Visa: This card is a reward credit card. When you use this card, every dollar that you will spend will earn you reward points. When you eventually reach 1,000 reward points, you will get a 10% discount on your next purchase at Target. Moreover, you will also get a 10% discount after your tenth purchase from Target Pharmacy.

Target Credit Card payments and services

Card holders of Target credit cards can pay their monthly bills online. They can also make automated bill payments for their other expenses such as insurance payments, utility bills, phone bills, and more.

The interest of Target credit cards fall within the average range. However, your APR will be based on your credit rating. So basically, the better your credit rating, the lower your interest rate will be. Target’s APR will fall anywhere from 9.9% to 18.9%.

The way to go with Target credit cards is by paying in full and on time. If you pay your due balance within the declared payment period, you won’t have to worry about anything. However, if you are faced with budget constraints, you can opt to pay the minimum payment which should be 2.5% of the total loan balance. This, of course, will incur some finance charges.

In the event that you exceed two late payments, the bank can charge you with fees up to 24.9%. The usual late fees amount to $29 for every payment period that you miss. If you spend more than your credit limit, you will be charged with $29 more. However, what’s good about these cards is the fact that you will no longer have to worry about annual fees. In addition to the 10% discount after every 1,000 reward points, Target will also share 0.50 % of your purchase amount to any K-12 academy of your choice.

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APR Explained

The main gauge of how much you should pay for your credit card balances is the APR or Annual Percentage Rate. This determines your accounts’ total fees and interest rates, which you would have to pay in respect with the principal amount that you loaned. It is important that you understand the APR computation as this can greatly help you in managing your credit card finances.

Low to Zero APR Everywhere

Recently, it has been a trend for credit companies to offer low APR. In fact, there are those who offer absolutely zero APR! Companies do this because of competition. However, you should keep in mind that these offers do not last long. Most of the time, these are merely introductory offers. They usually last for approximately 90 days to one year. Hence, they are simply marketing strategies used to tempt customers into applying for an account with the company.

Understanding APR Rules

Before you commit yourself to a credit account, you should first understand all the terms and conditions which are related with its APR. There are some companies that have various charges for different transactions. Generally, APR for balance transfers are lower, compared to the rate charged for cash advances. Additionally, they may charge you a different rate as penalty if you pay late.

Fixed vs. Variable APR

Because companies are required to inform customers about their APR, it would be easier for your part to compare one company with another. There are companies that may offer fixed APR, while some offer variable APR. The fixed type is usually preset and doesn’t change without appropriate notice.

The variable APR constantly changes from time to another and highly depends with the economic index that is tied with. Some experts say that it is better to get a fixed account, since you wouldn’t have to worry about inflation. This way, you can be sure that the amount you have to pay is constant.

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As a ground rule, everyone understands that credit cards are a friendly credit tool. However, there’s a lot more truth to these credit cards then meets the eye.

Most consumer credit card companies offer bonus points of some sort each time you use their credit cards. Don’t let that lure you into making applications for every consumer credit card offer you come across. There’s no purpose in being fascinated by these cards that offer travel rewards for every card swipe you make if in fact you’re not a frequent traveler.

The first things you need to do are check amongst the vast resources of consumer credit cards and see which ones you qualify for. If you are interested in using the cards to make payments at your grocery store, supermarket, dine outs and the like, then find a credit card that offers you retail rewards.

There are plenty of cards that offer cash rewards also. These are certain to attract your attention but do check at first where these points can be earned. They don’t really give out points for every swipe you make but it’s more about the places you make swipes at. So, first check to see if you actually shop at the enlisted stores because that’s the only way you’ll benefit from the cash rewards type of consumer credit cards.

What should interest you as a consumer is the benefits attached with these consumer credit cards. As a responsible individual, you need to understand what you want to use the credit cards for. Most importantly, make sure you understand the interest rates they compound. It all seems really fine at the beginning when you hear you’ll just be paying a flat rate on your outstanding balance but the figures are usually higher than you imagine and keep getting higher if you accidentally default. Use the credit card as a tool that helps you financially and not as a method that depletes your financial resources.

When you hear about offers for redeemable points, you must understand that these points are earned on the amount you spend. The more you spend through your consumer credit cards, the more points you’ll earn. Read between the lines. What this really implies is that you need to be a big spender in order to be able to really redeem the points and become the proud owner of their fancy gifts, which could include jewelry or a swanky phone. The offers are certainly up for grabs but do they really target you? Before applying for consumer credit cards you need to understand what the card really offers and how it’s going to benefit you in the long run.

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