For many of us, a vehicle is a necessity.
We need it to get around ‒ to get to school, to work, to appointments and to run errands.
And although there are not many things more freeing than being out on the open road listening to our favorite tunes…
Cars can also be a pretty big burden.
Pricey insurance, unexpected roadside assistance calls, and ever-rising gas prices are enough for anyone to consider hanging up their car keys and buying a bus pass. But for many of us, owning a car is just a normal part of life.
But for many of us, owning a car is just a normal part of life.
However, just because we need gas, doesn’t mean we shouldn’t be looking for ways to cut our gas costs, or at least be rewarded for it.
While many gas stations have loyalty programs or ways to save a few cents per liter, there are some credit cards that will allow you to earn some major rewards on top of that as well.
So, let’s break down some of the top credit cards on the market so you can maximize your return on spending each time you have to stop to fill up at the pumps.
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Our pick for the best gas credit card in Canada
For us, the clear winner is the
And while it seems like it may be an average card that only earn 2 points per $1 spent on gas, each point carries great value.
You can transfer your points to Aeroplan at a 1:1 ratio. With an Aeroplan point worth 2 cents when redeemed for flights, that gives you an up to 4% return on your gas spending.
You’ll also get a high return on all of your other spending as well:
- 2 points for every $1 spent on gas, groceries, drugstores, and travel
- 1 point for every $1 spent on all other purchases
It does come with a high annual fee of $250, but in exchange you’re not only getting great, high value rewards but multiple ways you can use them.
Thanks to the Amex Membership Rewards program, you can also transfer points to 5 other airlines, Marriott Bonvoy, redeem for flights using the Fixed Points Travel program, or use points to book any travel you like.
There’s no shortage of ways to use your points to get your travel on.
Throw in some comprehensive insurance and premium perks, and you’ve got the complete package when it comes to travel rewards cards.
GC: $125
$125 GeniusCash + Up to 60,000 Welcome Bonus Membership Rewards® points.*
Other cards that give you 4% back on gas purchases
If you’re looking for 4% cash back on your gas purchases then the
This card requires a 60K personal income and has a $99 annual fee.
With the Dividend Visa Infinite, cardholders are given:
- 4% cash back on gas and groceries,
- 2% cash back on Tim Hortons and TELUS purchases, and
- 1% cash back on all other purchases.
Where this card doesn’t stack up, however, is that there is a cap on the amount of rewards you can earn at 2% and 4%.
Anything charged to your card over $80K annually will only earn 1% cash back. So, if you are a big spender, this card is not the card for you.
Our pick for best no fee cash back gas credit card
If you’re looking for a gas credit card that has no annual fee, the
Not only will it give you up to 2% cash back, but it will allow you to choose 2 (or 3) categories you want to earn your 2% in.
Also, feel free to change your categories as your spending habits change. You get to be in the driver’s seat.
Pssst. You can have the bonus third category, if you have your Money-Back rewards deposited into a Tangerine Savings account.
Which categories would you choose?
- Grocery
- Furniture
- Restaurants
- Hotel-Motel
- Gas
- Recurring Bill Payments
- Drug Store
- Home Improvement
- Entertainment
- Public Transportation and Parking
Keep in mind: Any purchases you make outside of your spending categories will only earn you 0.5% cash back, no limit or cap on the amount of cash back you can earn.
It also comes with purchase insurance, a promotional balance transfer interest rate of only 1.95% for 6 months ‒ and the flexibility to change your spending categories if the ones you pick aren’t working for you.
Plus, because this card is a Mastercard, acceptance shouldn’t be an issue. So, even if you get your gas at Costco, this card has you covered.
Read our full review here:
×1 Award winner GC: $125
1x Award winner
No fee World version
If you meet the higher income requirements of either $60,000 personal or $100,000 household, you could opt for the
You’ll get the same earn rates, pay no annual fee, but gain 2 insurance coverages:
- mobile device insurance, and
- car rental theft and damage.
They’re great little extras for no extra cost.
GC: $125
The perfect combo every wallet needs
One great way to maximize your rewards is to add the
Where Amex is accepted, this card could boost your non-category specific spending by at least 0.25%. Use your premium card on category-specific spending where you earn the most points/cash back, and use the SimplyCash card for everything else.
And with no annual fee or income requirement, it’s a win-win.
Top gas credit cards in Canada
The best way to find out which card is best for you is to enter your monthly spending into our Spending Breakdown calculator and set the sliders to what is most important to you.
However, if you wanted a quick place to start, these are the 4 cards that come out on top if you’re looking for a card that will reward you for your gas purchases:
| Credit Card | Annual Fee | Rewards Earned on Gas | Learn More |
|---|---|---|---|
| American Express Gold Rewards Card | $250 | 2 Amex Membership Rewards points per $1 spent on gas | |
| CIBC Dividend Visa Infinite Card | $99 – First year free | 4% cash back on gas | |
| Tangerine Money-Back Mastercard | $0 | 2% cash back on gas if picked as a spending category | |
| Tangerine World Mastercard | $0 | 2% cash back on gas if picked as a spending category (Note the higher income requirement.) |
What do you think?
Do you have a gas credit card in your wallet that you don’t see on the list?
Or, are one of these 6 cards your go-to when it comes to making gas purchases?
Let us know in the comments below.
creditcardGenius is the only tool that compares 126+ features of 229 Canadian credit cards using math-based ratings and rankings that respond to your needs, instantly. Take our quiz and see which of Canada's 229 cards is for you.
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