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Take Care With The Use Of Gasoline Credit Cards



 
 
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Old June 29th 11, 09:10 AM
bali kute bali kute is offline
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First recorded activity by InvestmentBanter: Jun 2011
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Default Take Care With The Use Of Gasoline Credit Cards

As with all credit cards, if you maintain a balance of any kind, they will cost you money. Gas rebate cards are no different. Most gas rebate cards offer around 5% back on all gasoline purchases, which can be a good savings if you go through a lot of gas. However, even with pristine credit you will probably have an interest rate of around 10.9% to 14.9%. If you think you are saving at the pump while you are carrying a balance you are mistaken. 5% cash back means very little is it is costing you 14.9% interest on a sizeable balance. If you can, pay off your card every month. If you must carry a balance, don't worry about reward credit cards and do whatever it takes to get your APR down.
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