Since gas prices are on the rise, is it smart to use gas cards and what are some ways to save money

Copyright 2006 Debt Management Credit Counseling Corp.

Question: Since gas prices are on the rise, is it smart to use gas cards and what are some ways to save money on gas?

Answer: As we all know, gas prices have risen to an average of $3 per gallon in the United States. Since the gas prices are high again, this means that gas-rebate credit cards will be targeting consumers more than ever. There are some perks and advantages to using gas cards but there are also many disadvantages if you do not take care of your credit.

Advantages

Gas rebate cards offered by financial institutions and oil companies typically offer 5 to 10 cents back for every gallon of gas purchased. Some cards may also provide credit points to be used to buy other products. This can definitely save you money if you pay the entire balance off the gas card every month.

Disadvantages

The disadvantages of having a gas-rebate card probably outweigh the advantages for the majority of consumers. Some disadvantages of using a gas card include the following: