Gas prices suck. We all know it. They’re continually on the rise with no signs of stopping. Unfortunately, there isn’t much you can do, but there are ways of saving money at the pump. It’s true. I save about 20 cents on every single gallon of gasoline I buy. While you pay $4.05, I only [...]
Gas prices suck. We all know it. They’re continually on the rise with no signs of stopping. Unfortunately, there isn’t much you can do, but there are ways of saving money at the pump. It’s true. I save about 20 cents on every single gallon of gasoline I buy. While you pay $4.05, I only pay $3.85. Seriously. At any pump, I end up paying 5% less than what is advertised. This isn’t a secret either, as I’m sure millions of other people are cashing in on this too. Interested? I bet you are.
Discover Cash Back Rewards with the Open Road Card
With the Discover Open Road Card, you can save 5% on all gasoline and auto-maintenance purchases, including car washes and oil changes, on up to $100 per billing period. Here is what 5% back looks like. Suppose you fill your 15 gallon tank with gasoline four times a month at $4.15 per gallon. You’ll save about $0.20 per gallon, $3.00 per full tank fill-up, or $12.00 per month. While twelve dollars doesn’t sound like much, it’s $12 in gasoline costs you are needlessly paying.
Discover More
The Discover More Card is offering a similar promotion as well. You can save 5% on all gasoline and hotel purchases from July 1st until September 30th. The offer different rewards depending on the time of the year. Typically, in the summer you save on gasoline and clothing related purchases. In the winter, you save on restaurant, movie, and airline related purchases. The reward program changes every 3 months.
Extra Savings and Cash Back Bonus Redemption
You do need to reach $20 in savings before you can redeem your money though. However, this doesn’t take long at all. In addition to 5% cash back rewards, you can save up to 1% on every purchase you make. Again, one-percent sounds measly and needless, but every little bit of savings does help.
I use my Discover card almost daily and the rewards have really shown. I actually make money by using a credit card. Absurd, right? But it’s true. Last year alone I received $120 in checks from Discover. As long as you pay your balance on time, every month, you’ll never see a credit card fee in your life. Exercise self-control and only make purchases you know you can back in a months time and you too can enjoy making money just by using a credit card.
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Another way to save even more is buying gas gift cards from some stations. Many gas stations offer gas gift cards at a discounted price, helping you save even more money at the pump. Check your local gas station to see if they offer these and be sure to use a credit card like the Discover Open Road card as Steve suggested to save the most money.
Beware: If you miss 1 payment on Discover (or any other card) they will increase your interest rate to 26%. If you get in over your head with debt, they will not work with you until you miss a payment, and even then they can’t promise they’ll have a program for you. They have awful customer service, and are very sneaky!
Investigate the 25% Gas Rebate program that’s beginning to sweep accross the country.