The Best Gas Rewards Credit Cards of 2019

The Best Gas Rewards Credit Cards of 2019

Let’s say your biggest monthly expense is gas; it’s a reality for a lot of people who maybe travel a lot for work or have a long daily commute. Or maybe you and the family go on a lot of road trips, or you just like long drives down country roads to “get away from it all.” No matter the case, you should capitalize on those trips to the pump with a good gas rewards credit card. 

General rewards credit cards offer points or cash-back rewards for some spending categories (grocery, pharmacy purchases, etc.) But a great gas rewards card earns rewards on everyday purchases, while still maximizing on your fuel purchases specifically, and ultimately helps you save on gas or other types of merchandise in the long-run.

The best cards come with few restrictions as to where you can purchase your gas too. Problem is, with so many different cards on the market, how do you know which card will get you the most bang for your buck kilometres for your cash?

To make the decision-making process easier, RateSupermarket.ca has a handy-dandy card comparison tool. And with all things considered, from sign-up bonuses to annual fees to earning restrictions, we used our Best of Finance methodology to rank the cards that provided the most cash value.

Here are the best credit cards that can earn you the most in gas rewards:

The Top 3 Credit Cards for Gas Rewards


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Why it’s an awesome card:

All-around, this credit card is, by far, our top pick for cash-back. But what makes it a great gas rewards card is the fact that you get a particularly good return on gas purchases. Not only is it the two-peat winner of Best Rewards Card at our Best of Finance Awards, but the Scotia Momentum® Visa Infinite* Card also won Best Card for Gas Rewards this year. Earn four per cent cash-back on all gas station and grocery store purchases – and for a limited time, you can get 10 per cent cash-back on all purchases in the first three months of cardmembership too!

If used for all your purchases, you have the opportunity to get a lot of cash-back in the first year, without fees. The first year’s annual fee is waived, and $99 after that. Cash-back earned is applied to your account as a credit on an annual basis, giving you the freedom to use your rewards however you so please.

Earning rate*

  • Grocery and gas: 4% cash-back
  • Pharmacy and recurring bill payments: 2% cash-back
  • Other: 1% cash-back on all other eligible purchases.

Earning potential

  • Annual fee: $0 for the first year. $99 after the first year.
  • Rewards earned over a 24-month period: $866.06**

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Why it’s an awesome card:

If you’re guaranteed to spend hundreds of dollars on gas per month, the BMO Shell CashBack MasterCard® is a great option to earn rewards with no-strings attached. The card has no annual fee, no minimum income requirements to apply, and comes with some sweet sign-up bonuses – $50 of cash-back upon making your first purchase, and 1% cash-back on all purchases (aside from the 1.5% you earn on gas) for the first six months. After that, you earn 0.5% on all purchases, besides gas.

Cash-back accumulated over the statement period appears on your following statement, and is applied to your account as a credit. 

Earning rate*

  • Gas: 5% cash-back per $1 spent at Shell locations in Canada.
  • Other: 0.5% cash-back per $1 spent on all other purchases.

Earning potential:

  • Annual fee: $0
  • Rewards earned over a 24-month period: $266.14**

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Why it’s an awesome card:

The new Canadian Tire Triangle Mastercard® is great if you frequent the superstore that is Canadian Tire – where you can get just about everything. But the real merit in this card is the premium earning rate when you fuel up at Gas+ locations.

From engine oil to patio furniture to ramen noodles, you can use the Canadian Tire Money® earned with this no-fee card to redeem merchandise sold at all Canadian Tire stores across Canada. You can even redeem your CT bucks at designated partner stores such as Mark’s/L’Equipeur, Sport Chek, and Atmosphere.

You can also collect Canadian Tire Money® on all other purchases. Though, the earning rate for all other purchases is a bit unclear. The website simply states that the rate at which Canadian Tire Money®  can be collected may vary from time to time and by location and is subject to change by Canadian Tire without notice. You can call customer service to confirm current rates, but some sources state the current reward rate for purchases at other stores is 0.8%.

Earning rate*

  • Gas: 5 cents in Canadian Tire Money®per litre purchased at Gas+ locations.
  • Other: 4% in Canadian Tire Money®per $1 spent at Canadian Tire, Sport Chek®, and participating Marks®/L’Équipeur and Atmosphere®. 

Earning potential

  • Annual fee: $0
  • Rewards earned over a 24-month period: $345.41 in Canadian Tire Money®**

 


Notes: 

*Earning rate up to card’s annual spending cap, if applicable.

**Assuming $1,222.96 is spent on the card monthly at eligible retailers, in the following categories: Pharmacy ($55.33), Food ($758.53), Gas: $155.72, Travel ($151.21), Other ($102.17).

Related Topics

Credit Card Reviews / Credit Cards / Lifestyle / Personal Finance / RSM News / Using Your Credit Card

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