You’ll need a 640 credit score or higher for most gas cards. That’s fair credit or better. At this credit level, you may qualify for gas cards from specific stations such as the Phillips 66 Credit Card or the ExxonMobil Gas Card. These can only be used to make purchases at the affiliated gas stations. Good credit or better (a score of 700+) is required to get most gas rewards credit cards like Blue Cash Preferred® Card from American Express, which offer extra cash back on all gas purchases. There are also gas cards that are co-branded with a gas station but can be used anywhere, such as the Shell Credit Card, that also require good credit or better.
If you have less than fair credit, consider getting a secured credit card to pay for your gas purchases. The odds of approval are higher because you’ll have to put up a security deposit to set your credit limit. The deposit is fully refundable when you close the account without an outstanding balance. In addition, secured cards work like regular credit cards, which means you can use them anywhere credit cards are accepted. An ideal secured card for gas purchases is the Bank of America® Customized Cash Rewards Secured Credit Card. It offers 3% cash back in a category of your choice, 2% back at grocery stores and wholesale clubs (up to $2,500 spent quarterly in the 3% and 2% categories combined), and 1% back on all other purchases. And you can choose gas as your category for the supplemented 3% cash back rate.
Gas cards report to one or more of the big three credit bureaus on a monthly basis, just like any other major credit card. That’s true whether you have a gas card that only works for buying gas at a particular chain of stations or a card that’s accepted wherever Visa, Mastercard, American Express or Discover is. The first type is basically just a gas-station version of a store credit card. And using a store card is a great way to build credit.… read full answer
Not all cards you might use to pay for gas report to credit bureaus, though. Prepaid cards and debit cards do not report, for instance. But if you have a credit card, you should see it listed on your credit report. You can check your latest credit report for free on WalletHub to see for yourself. And if you pay your bill on time every month, your credit score will gradually improve.
The best unsecured gas card for bad credit is the Credit One Bank® Platinum Visa® for Rebuilding Credit because it offers 1% cash back on gas and grocery purchases, as well as 1% back on mobile phone, internet, cable and satellite TV services. On top of that, it also has a decent APR for bad credit, at 23.99% (V). Unsecured gas cards for bad credit are hard to come by. Gas is something that almost everyone buys, so many consumers are attracted to cards with rewards for fueling up. But most … read full answerunsecured cards with gas rewards require good credit or better. While some options exist among secured cards, which require a deposit that is generally equal to your credit line, there aren't many unsecured gas cards that cater to bad credit.
There are a few unsecured gas credit cards that have slightly higher credit score requirements, but offer more gas-oriented rewards. One example is the ExxonMobil Gas Card, which requires fair credit or better and offers some rewards, such as 30¢ per gallon of Synergy fuel for the first 2 months, 6¢ per gallon after that. But if your credit is bad, it's best to stick to cards that advertise bad credit acceptance.
Here are the best unsecured gas cards for bad credit:
Credit One Visa: Bad credit accepted. Annual fee of $75 intro 1st yr, $99 after, with a $300 minimum credit line. 23.99% (V) APR. 1% cash back on gas and grocery purchases, as well as 1% back on mobile phone, internet, cable and satellite TV services. Online pre-qualification available, with no impact on your credit score. Pre-qualification indicates high odds of approval, but it does not guarantee it.
Credit One Bank® NASCAR® Credit Card: Bad credit accepted. Annual fee of $39 - $99. 2% cash back at the NASCAR Shop and 1% back on eligible gas and automotive purchases. 23.99% (V) APR. Online pre-qualification available, with no impact on your credit score. Pre-qualification indicates high odds of approval, but it does not guarantee it.
The best unsecured gas cards for bad credit might not offer too many rewards for fuel purchases. But with bad credit, you should be focused on paying your bill in full and rebuilding your credit. Late fees and finance charges could outweigh any rewards if you don't. And if you pay for the gas on time, that positive information will improve your credit score when it's reported to the credit bureaus. And keep in mind that applying for a credit card can trigger a hard credit inquiry which may temporarily hurt your credit score. The cards above offer pre-qualification, which only triggers a soft pull of your credit history and has no impact on your credit score.
Secured cards can build credit just as well as these unsecured gas cards for bad credit. While they require a refundable security deposit, the best secured credit cards will offer better benefits. This helps you pay for fuel and reap any rewards they might have.
Both of these cards report to credit agencies and can help build your credit while paying for fuel.
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