Gas card

[alleniverson]

I was wondering if anyone had any recommendations for a gas card. I'm currently a college student and now that I got a job, I plan on giving my parents a gas card and paying gas for them every month (would be around ~$300-$400). Oh, and this is well within my limits and I'm fully capable of paying this for those wondering. Thanks.

[maat55]

I was wondering if anyone had any recommendations for a gas card. I'm currently a college student and now that I got a job, I plan on giving my parents a gas card and paying gas for them every month (would be around ~$300-$400). Oh, and this is well within my limits and I'm fully capable of paying this for those wondering. Thanks.

I would get one from a local gas station that offers them like Phillips 66 or other. I would advoid a regular credit card starting out. You should try to get a limit of 700 to 1000.

[StressLess]

You could also give them a gas station gift card that's refillable. In other words, they keep the card, but each month you call in to the 800 number and add money onto it. That way you'd be able to budget for and control the exact amount you're going to give them. You'd have to have your own credit or debit card as a source for the money you add to the gift card each month.

You never know what's going to happen with gas prices, or other people. You might be hit with a $600 or $700 credit card bill one month, when you're having a tough month yourself.

I don't know off-hand which gas cards can be added to; hopefully someone here will be able to tell you.

[disneysteve]

While this sounds like a very nice thought, I don't like the idea of a card tied to a specific company. That limits them to that company's stations which might not always be convenient and might not always offer the best price.

Why not just give them money each month? If you really want some type of stored value card, how about a prepaid Visa that you can reload each month? That way they can go to any station where ever they happen to be and they can shop for the best prices.

[alleniverson]

Correct me if I'm wrong but aren't there gas cards that can be used at any gas station?

And as for the prepaid cards, I don't plan on using that route because one of the reasons I'm doing this is to build my credit.

[disneysteve]

And as for the prepaid cards, I don't plan on using that route because one of the reasons I'm doing this is to build my credit.

Ok. I wasn't clear where you were going with this. So what you want is a credit card that gives a good rebate on gas purchases, correct? I believe Discover has a good one.

I have to say that I'd be uncomfortable with this arrangement. Giving another person, even your parent, a credit card that you are responsible for is a big leap of trust. What happens if something comes up and they run up the bill one month on purchases other than gas? What if they go over the credit limit?

If you are going to do this and you anticipate charges being $300-$400/month, make sure the credit limit is at least $1,200 or more so that your utilization stays below 30%. Also make sure that you check your account online every week to track usage. If there is a month that is particularly costly, you may want to send in a payment mid-cycle to keep your balance from climbing over 30%.

[sweeps]

I agree.. Discover Open Road card is good. 5% on gas and car maintenance.

A better choice might be PenFed's Visa Platinum Cash Rewards card. 5% on gas but 1.25% (as opposed to the usual 1%) on other things. There is no rewards limit and the rebate is credited monthly. You may have to pay a one-time fee of $20 to join PenFed though.

I'm expecting to receive my American Express Blue Cash card soon. It gives 5% at gas stations, supermarkets and drugstores and 1.5% everywhere else after you spend $6,500. This is a good card for people who put a lot of expenses on their credit card.

Of course all of these assume you will pay the bill in full every month.

[sounderella]

We just have a Chase Rewards card we're using for gas. It gives 3% cash back.

[Joan.of.the.Arch]

Sweeps, those sound like a couple cards I would like to look into, thank you. Right now I still am using my Citi Dividend Mastercard, but the gasoline rebates are no longer 5%.

Alleniverson, if you are on any kind of financial aid, please make sure that your earnings will not be downgrading your aid to an extent that you will have needed to save that $300-$400 for tuition. Financial aid is updated each year based in part on what you earned the previous year. If your earnings went up such that you can contribute more to tuition, it will will expected.

[alleniverson]

Thanks for the great responses.

However, is the Discover eligible for rebates at any gas station?

As for the credit card, I'm fully confident that I can pay the balance in full in every month because I currently have three other credit cards with the limits being $1200, 6500, and 9000 (I only use one of the credit cards and I keep the other two in my safe) I pay off the balance in full every month and have never been in debt.

To Joan's question, I am not on any financial aid.

[sweeps]

is the Discover eligible for rebates at any gas station?

Yes, any gas station.

[poundwise]

FYI: Discover Open Road Card