PenFed Visa Gas Rewards is the best rewards credit card I’ve found for gas and groceries. It’s earned a spot on my best military credit cards lineup. You get an unheard of 5% cash back at the pump. Other cards like Discover claim similar rewards but they only give you cash back during certain months of the year or have limits on their rewards.
Cash back for gas
According to a recent government energy study the average American family spends $3,200 a year on gas. Using PenFed Visa Gas Rewards you’d save $160 every year! It may seem like a small amount but when you add up rewards in multiple categories you’ll start to see substantial savings.
Cash back for groceries
You also get 2% cash back on groceries at the commissary or wherever you choose to buy food. Groceries and gas are a big chunk of every family’s budget. Why not get some money back on things you have to buy?
Automatic cash rewards
My favorite feature of this card is the automatic cash back every month. Most rewards credit cards require you to earn a certain level of points or money (typically $50) before claiming your reward. PenFed Visa Gas Rewards credits this money to your bill every month even if you’ve only earned a small amount. It’s simple and doesn’t require you to click through a reward website or cash a check.
You need to open a PenFed checking account and make a $5 deposit to get a credit card account. It only took me an extra few minutes but it was still a bit of a hassle. Even with the extra step the application process was rather painless.
Even with the extra step of opening a checking account this credit card is well worth it. You can hundreds of dollars every year on gas and groceries alone. To apply, type “PenFed Visa Gas Rewards” into the upper-right search box on CreditCards.com. There’s no annual fee and you don’t have to be military to enroll. If you have any experiences with this gas card please share them in the comments below.