Save 10% on gas with BP Visa card

Update 10/26: This offer has expired and the card is no longer available

BP Chase VisaAs gas prices approach $4 per gallon in our area I am scrambling looking for for new ways to save at the pump. Replacing my Honda Accord with something more fuel efficient is not yet an option and hypermiling while sounds interesting is not very practical taking into account my hectic lifestyle. So what other options do I have?

Cash rewards credit cards can offer an easy solution. I have used the Discover Gas Card for a couple of years collecting 5% with each filled gas tank until Discover limited the amount of gas purchases they reward each year to $1200. My current strategy is to put all my gas expenses on the Chase Freedom Plus which pays 3% (or more if you collect $200 in rewards before you redeem). Lately however my friend tipped my to this interesting promotion from BP which will allow me to triple my gas savings for the next 60 days.

As long as you are comfortable with BP as your gas supplier, you have an option to save 10% on gas for the next 60 days and 5% thereafter if you use BP Visa card at the pump. In addition the card offers 4% on travel and dining and 2% on everything else during the promotional period. The percentages are halved after that. The cash rewards are unlimited and can be redeemed in $25 amounts as BP Gas cards, a checks, or you can send them to an environmental charity.

This is so far the best gas rewards offer I am able to find. Alternatively, Chase PerfectCard looks pretty attractive. It doesn’t limit you to the gas from any single provider but as the price for the convenience you only get 6% for 90 days and 3% thereafter.

How do you save on gas? Do you use any cash rewards credit cards? Which one is your favorite? Please share your tips.

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3 Responses to “Save 10% on gas with BP Visa card”

  1. 1 Trent Hamm Apr 28th, 2008 at 5:24 am

    The only problem is that around here BP prices are nearly extortion compared to Cenex and Casey’s.

  2. 2 Yan Apr 28th, 2008 at 8:10 am

    BP stays pretty competitive around where I live

  3. 3 Ajay Gupta Apr 28th, 2008 at 10:12 am

    Try Visa Platinum Gas Cash Reward Card. If offers 5% off Gas, 2% off Groceries, 1.25% off other purchases. Cash back is credited monthly. I have one and it’s my primary card.

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