Gas-Saving Moment of the Day: Gas Credit Cards

Gas credit cards can save you money at the pump. Some cards offer rebates as high as 5% on gasoline, but don’t be a mindless consumer — pay attention. The period when you’re getting that high rebate usually ends after about three months.

For instance, Chase’s PerfectCard MasterCard nets you a 6% rebate on gas purchases for 90 days before dropping to a less-helpful 3%. Also be aware that credit card companies can basically change their terms whenever they feel like it with little or no warning.

Yes, you can save money with a gas credit card, but the key is to be very discerning in your purchases and keep the card paid down. Gathering debt so you can save a few cents at the pump in the short term is a monumentally bad idea.