The Gulf Platinum MasterCard Gas Rewards Credit Card
The age of cheap gasoline is over. While many Americans have purchased more fuel efficient cars or reduced their driving, they are still looking for more ways to cut their fuel costs. Barclay’s Bank offers its Gulf Platinum MasterCard that will return a significant rebate on all purchases at Gulf stations.
For each dollar spent at a Gulf service station, cardholders will receive 3% cash back. Cardmembers will receive 1% cash back on most other purchases, but there are never any rewards from purchases from other competing gasoline stations. Unlike standard, and more rewarding cash back credit cards, cash back is only returned as a statement credit after $20 worth of rewards has been accrued. Cardholders will receive a variable interest rate equal to the Prime Rate plus 11.74% or 20.74%, depending on their credit worthiness. There is also a 0% introductory balance transfer option for six months. Balance transfers within six months of opening the account are subject to a 3% fee which rises to 4% after the introductory period expires. There is no annual fee for this card, but there is a 3% foreign transaction fee.
Unlike many gas credit cards, this is a MasterCard that can be used for purchases at most merchants. Cardholders that live in an area where Gulf offers the lowest gasoline prices can save even more money with this card. Also, those who are close to retiring their credit card balance may be able to utilize the introductory financing offer to reduce their interest payments.
Three percent cash back is a reasonable reward return rate, but only if Gulf already offers the lowest price in the cardholder’s area. Furthermore, this card is unique in offering zero rewards for purchases at the affiliate’s competitors. Other gasoline retailers such as BP and Marathon offer cards that return 5% on purchases at their stations. PenFed, the Pentagon Federal Credit Union also offers its Visa Platinum CashBack Rewards card that earns 5% cash back on gasoline purchases at any station.
This product only makes sense for those who are already dedicated Gulf customers for one reason or another. For example, Gulf may be the only gasoline retailer in many small towns. Additionally, applicants who need both a rewards card and a balance transfer offer may be interested in this product. For most other people, there are more competitive gasoline rebate cards that they should be aware of.
