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In recent months, talk about $ 4 and $ 5 per gallon gasoline was worrying more than just consumers. In fact, many business owners and tourism officials were worried too. Would the rising cost of gas keep their customers away? If you are considering whether a road trip is a good idea this summer, realize that it can be, if you know how to take advantage of the higher gas prices you will be paying. How can you take advantage of those high prices? Get something back for paying them – that is how!
The Problem with Gas Prices
The cost of gas can be very limiting, not just for the consumer at the gas pump, but for the impact on the economy as a whole. For example, in Des Moines, Iowa, recent talk among tourism officials there has been whether or not it will be a good season or a bad one and it all hinges on the costs associated with gas. A year prior, the price of gas was $ 2.44 per gallon and the vacationers came without a problem. This year, it is approaching $ 4 a gallon and tourism officials are worried if this will pull away from the number of people willing to take to the roads in search of a family vacation.
How to Get Around This
If you want a vacation but you do not want to pay the high costs associated with gas, you do have options. Your biggest option is simply to get more rewards for the gas you put in and to take advantage of them.
More credit card companies than ever are offering gas credit cards. You earn benefits, including rewards, to spend on various travel related expenses. For example, you could charge your gas purchases on your next trip to the right card, earn bonus points or miles for those purchases and then cash in for free hotel stays, discounts on online shopping centers or even get cash back on those purchases.
In other words, users can simply charge those rewards to the right credit card, reap the benefits of receiving points to use for services they need or even get cash back and, if they pay the balance within the grace period, the user does not have to pay finance charges. It's a win-win situation for those who want more from a credit card.
How to Find the Right Gas Credit Card
Be warned, there is a difference between a traditional gas station credit card and a credit card with gas rewards. You do not want to use a gas station card if you can avoid doing so because this ties you to just one gas station to earn rewards from. Rather, choose a card that rewards you for buying gas no matter where you do. Here are some recommendations.
- The Discover Open Road Card is an ideal choice. You get a free $ 75 Restaurant.com gift certificate once you make your first purchase. You earn two percent cash back on all the purchases you make at a gas station, as well as other benefits. You can redeem your points for cash back on your purchases or in your pocket.
- Another excellent choice is the TrueEarnings Card available from Costco and American Express. You'll particularly benefit from this travel rewards card if you are a member of Costco. You earn up to three percent on purchases of gasoline up to $ 3000 back each year, in fact.
Look at your ability to save money here. The more you spend in gas, the more you get back in cash back with these credit cards. Therefore, head out on that road trip. You can afford to do so, even if you thought you couldn't do so before.