Valero Credit Card: Why It's The Worst For Buying Gas
What probably caught your eye was the advertising on the Valero gas pumps for 30 cents off per gallon in a big bold font. Well, read the fine print to understand.
Let’s face it… the days of cheap gas are long gone! That’s why it’s more important than ever to get the best deal on your gas. But do the rewards on the Valero gas card give you that? Definitely not and here’s why…[INDENT]Regular Velero credit card (for individuals) – Surprisingly this offers absolutely no rewards program! What’s the point of hassling with another credit card payment each month if it’s not going to save you money on gas?!
- $0.01/gallon on regular gas
- $0.015/gallon on mid-grade gas
- $0.02/gallon on super-grade gas
[/INDENT] What’s the interest rate?
As you know these things are subject to change at any time, but as I’m writing this the APR on the regular card is a high 23.00%. yet another reason this credit card is a dismal failure.
To be honest, I don’t know who would fill out a Valero credit card application. My guess is that some applicants might be confused by the signup promo, where a higher discount is given to start off with. Perhaps they wrongly assume that’s the normal discount on the card, when it’s often only given for the first few billing cycles.
If you open up your wallet, probably the plastic you already have in there offers you better rewards than this does. So if nothing else, just keep using your current credit card and you will probably do better.
CreditCardForum advertises a number of cards on the market that give up to a whopping 5% rebate at every gas station with no annual fee. You can learn more here.