Due to the current economic crisis that has hit hard across the globe, many people’s credit has been crippled. In addition to that, fuel prices shoot up now and then, hence the need to have a gas card. This will help you save up money in the purchase of gas. There are a number of ways you can do this. However, with bad credit reputation on yourself, it can be a little tricky for you. This is because, when the credit crunch hit the globe, credit card companies began to be more careful to those taking out credit cards.
Card companies then noticed that some people were using them to buy a lot of gas that they could not afford. To add to that, many people got laid off from their jobs due to recession and lost their homes in the process. This meant that they were in capable of paying their bills and they were unable to reconstruct their credit worthiness.
How to get gas cards for bad credit?
Though some credit card companies have become more reasonable in giving gas cards for bad credit, there is a price to it. You would have to pay a high interest rate for the gas since they charge a high interest rate for things that are not secure. There is however ways to avoid this in order to save on the high prices of fuel that is ever rising. Instead of applying for a card from a gas station, you can have someone who has a good credit record, to consign on tour credit card application. This will make the card to be approved faster and you will be able to enjoy the low interest rates. However, this will transfer the liability of the amount charged from you to the cosigner. In that case, the credit company will be more secure in being able to receive money owed to them in this way.
Gas Credit Card Companies.
If there is no cosigner available, you will require finding a less reputable credit company online. These companies will be willing to prolong a line of credit to people with bad credit reputation. Gas cards for bad credit can be got from gas companies and also major credit card companies. These companies involve Discover, American Express and Chase that offer hefty bonuses in the purchase of fuel.
PenFed platinum visa Card and BP Visa Card pays a 5% on gasoline purchase no matter the gas station used except for BP Visa card where it is only in BP stations where this offer applies . There is also theHess platinum visa card where you will be able to get 3% on Hess gasoline purchase. In Chevron Visa Card you get a 10 dollar gallon as a reward for fueling with them. ExxonMobil platinum MasterCard offers a 1.5 dollar reward on fuel in their stations around the world. In addition to that, you earn 0.5% back in the first purchase of 999 dollars worth of gasoline. These cards prove to be economical towards the clients in that they benefit from the rewards that come with it.
