Chevron Credit Card a Scam?
With gas stations coast to coast, it comes as no surprise that the Chevron credit card is one of the most widely issued gas cards in America. But be warned… before you fill out an application to get your own, there are a few important things you should know. Is the card a scam? No, it is not (despite what some people have said, to the best of my knowledge what they’re doing is completely legal). But is it is a good way to save money? No, and here’s why…
The Interest Rate Shocker…
Chevron includes Texaco (they acquired the company in 2001) so they issue similar cards under each brand. Their ordinary cards are not affiliated with any major payment networks (like Visa, MasterCard, etc) so they can only be used for purchases at their stations. Two of them offer no rewards on fuel purchases, and the other one that does requires cardmembers to pay a $25 annual fee just to have the ability to earn cash back… not cool! These all carry sky-high interest rates, currently 21.49% APR and up at the time this article is being written.
The company also issues another, different category- the Visa Chevron Texaco cards. The interest rate on these is not cheap either… which can be as high as 20.49% when this post was published.
The Rewards Exposed…
Let’s be honest here. The only reason 95% of us apply for a gas card is because we are looking to get a cash back rebate on our fuel purchases. So you would think these would have fantastic rewards? Well, think again. In fact, according to their official page, it appears their “personal” cards only gives you cashback for the first 2 months only. After that, there’s no great benefits offered. For example, they list “zero fraud liability” as a benefit, when in reality, just about every credit card on the market gives you that. And if they didn’t, federal law protects consumers – you can only be held liable for up to $50 in fraudulent charges – so for them to call this a “benefit” is certainly a stretch. And if you pay the $25.00 for the “premium” card do you think it’s any better? Not much! They only offer a small rebate but it’s not even on gas… only specific travel services, and only those booked through their reservation service (which may or may not have the best prices).
Now their Visa-version does offer gas rewards, but they’re certainly nothing to write home about. It saves up to a dime a gallon, but only at their gas stations (which usually costs a lot, anyway). Also, if you do the math, at $3.00 gas, that only equals out to be about a 3% rebate per gallon.
It Gets Worse…
Our research has found complaint after complaint peppered across the net. For example, one story was by a loyal California cardholder of many years. According to her, she had always paid her bill in full each and every month, never late. While on an unexpected roadtrip, she was struck with a big surprise… GE Capital (who manages these cards) allegedly decided to cut her credit limit from $3,200 to $100 out of the blue. They cited no negative reasons for the change. Her trip was thrown into haywire, as she counted on that card to fill her tank.
The Solution
Stay away from the Chevron credit card. There are so many other options out there when it comes to rebate cards. For example, you may want to check out the no annual fee Discover More card which offers a full 5% cashback bonus in a number of rotating categories, one of them being gas (any station!) The rewards on the Chevron cards are laughable in comparison. To be completely honest with you, I want to disclose that this site does indeed have a financial (advertising) relationship with Discover. However we also do with many other banks too, so there’s many other cards I could promote here instead but I’m not, because I truly believe this is the best and you can see this for yourself…
I cut up mine a year ago. No point in having a card that is so unfriendly to its cardholders like that.
Applied for chevron/Texico visa because of 13.49 rate. I have great credit score and was approved. When the card arrived the rate was 17.49. I called them and was told to bad did I want to cancel card. That’s nice. Beware of this scam. It’s GE Money Bank!!!!!!
Chevron has instituted a $5.00 per month “report delivery” fee for mailing a statement to customers. I have hundreds of vendors we make payments to and none has made such a policy. We have never been late and have a 30 year relationship with Chevron. It has taken repeated calls on my part and weeks of wiating to get a response from a supervisor and then they chose to let us cancel our $700/month company account rather than reverse these charges. To boot, they were rude and dismissive! Thanks for the lead to Discover Open Road! Goodbye Chevron!!
Paid my Shoveron off when I got my tax return as the revolving interest was eating me alive and left for dead!!!Horrible interest you pay.
I had a Cheveron / Texaco account for almost twenty years. I always paid on time. I cancelled my card prior to a deploymeny with the National Guard. Upon returning, I found that they did not cancell the card. They had also charged me for the travel club and late fees. When I returned home, they would not even discuss it with me as they had sent it to collections. Some of the worst customer service that I have ever encountered. I have cancelled the card again, and I will not be purchasing gas from them. If you are thinking of getting a card from them… DON’T DO IT.
So glad I came across this blog. I logged on to apply for the Chevron Card because at the pump it read “15 Cent off Per Gallon” but did not say how long. I thought “what the heck”. When I went to apply I noticed that the site was not sucure, so I back up and found this blog. Thanks for all the info. I will just stick with my American Express.
Recently received a bill at my husband’s company from Chevron which indicated a late fee in excess of $175.00. Review of the card indicated the last payment of $400 was one week over the due date of the bill. When I telephoned Chevron to inquire how they arrived at the late fee, they informed me they charge interest on all charges outstanding at the date of lateness, including current charges not yet billed to the customer, and apparently past charges already paid. In my case they indicated late charges accrued on over $1600 worth of charges. My new bill was less than $500. No matter how I worked it, I could not figure out any formula that would justify their charges. Needless to say, after decades of business with Chevron, my husband and I have elected to spend our money with other fuel companies…
similar thing happened with me..I filled gas in my car at my neigbor gas station and they charged for that twice on my card..i talked to them..but they didn’t listen and I had to pay for that ..so i also recommend not to do business with chevron..they are cheaters..
Judith, please respond to me. We have the same issue and want to do something legally about it. Exhorbitant late fees, interest on late fees, late fee charges on non-late amounts, etc.
Thank you for this blog and the comments it helped me to make my decision about one of these cards! A definite NO and now I do not even have to read there legal fine print jargon.
Terrible rip-off and they don’t care. Regarding the finance charges-I’m a bookkeeper and I keep telling my clients to cancel their cards. They are paying over $1000 a year in late fees. They barely mail out the bill in time to pay it before the due date-then they say they can’t be responsible for the mail. You would think that for $5 they’d get it to you sooner. It’s all part of their game. I expect that their finance charges represent a very large amount of income to Chevron.
I recently was charged a 39.00 late fee on a 44.00 balance which was paid 2 days late! It took 10 days from the date of mailing the payment until it was posted. I pointed out to the “customer service rep” that it was impossible for my payments to get there timely. They have a 14 day billing system, It takes 7-10 days each way. Which means your always going to have a late fee! I had been a customer for 20 yrs, didn’t seem to matter. Chevron refused to credit the late fee! So long chevron-Texaco
Rather than pay the billing fee (extortion) I elected to receive my business statements on line. After Chevron changed mailing addresses without sending out a mailed notice my payment was received after the due date. I was hit with a “late fee” of over 300.00 as well as interest! When I called customer service to either remove the late fee or cancel my account the rep called me dog and hung up on me and still didn’t close my account! Why has fair business practices been replaced by corporate greed. I believe that Chevron needs to be held to task for this by our legislators.
I want to order a credit card FOR GAS ONLY for my son in another city, What card do you suggest I get?
My company Chevron bill arrived today. Not surprised, had late fee of $175 plus interest. This account is paid in full every month and well before the due date. Statement posted the payment being made on the 25th. The due date was the 12th. Because this has become a regular occurance the payment was sent USPS certified return reciept requested. Reciept shows delivery on the 10th, two days before the due date! When called, the explanation was that it took 3 days to enter the payment and an additional 12 days to verify the funds. FTC complaint is in the works. Anybody else treated this way?
I got the same bullsh_t excuse. Their remit to address used to be in Concord, CA (same county as we are). They changed that to North Carolina AND reduced the number of days before it’s due. I asked for an overnight mailing address they refused to give one and said “you can pay with a credit card”. Why would I pay a credit card bill with another credit card? We were charged $100 plus interest! I think it’s time to say bye bye Chevron!
We use our Chevron card for travel and pay it online as soon as we get home and pay no interest. We can almost always find a Chevron station wherever we go and have been very happy with it. It’s for convenience in buying gas, not ‘rewards’. You would pay for it with a debit/credit card for the same reason you would pay your cable or electric bill that way. Seems to me the problem people are really having is running up their charges, and sure, you’re going to pay big that way. We used to have the same problem with VISA when we’d run it up and then only pay the minimum payment. But you agree to that when you purchase the cards, so why blame the company?
I am a 25 year customer. In July, they raised my limit for being a good customer. I paid my bill. In August, they said I was late, $39 late fee, raised my interest rate to 31%. I sent a letter with my two statements, showing there was no way that I was late. GE Money never responded to my letter. All they do is call and threaten me, won’t even discuss. I am contacting my attorney. THAT is why I blame the company!
We were 18 years with this rip-off company. We switched from regular chevron to the new Visa by GE (deceptive trade company)! What jerks. The worse scammers I have ever dealt with. They need to take lessons from American Express in customer service. With this scam on late charges, billing, interest rates and price fixing if I don’t sue first; when someone is ready to sue them, I am on the band wagon.
Same as others story. Been a customer for years with no problems also ahve AMEX ansd others. No problems The chevron bill has always been paid in full at the end of each month. The have a due date on Sunday. they do not post on Sunday so it is when ever they get around to postinf they will charge you a $39 late fee doe $22 worth of gas.
It seems no matter how you pay they are out to get your money. Pay by phone they charge you $25. They send my statement5s on the e-mail and If i mail from the mail post office that same day it takes them from 11/25 to 12/11 and the check is still not clear. Over two weeks. I am sure I will have a compiled excessive late fee. What can we do about one of the major oild companies riping off small business and senior citizens ?
Someone need to help put an end to this.
SM. Las Vegas
Look at all the rip off stories and they are similar. This company will do everything they can to screw you, however I have found that I CAN FIGHT BACK. Here is how I do it. First of all, I over paid my bill by 10 cents, then put the card in a drawer and decided to use my Discover card for all future gas purchases. When the Chevron bill comes, I had a credit of 10 cents. That will force them to spend the price of a stamp every time the end of the month rolls around and they have to send me a credit of 10 cents. It’s a reminder to myself that I can screw around with them. It’s not much but it’s the satisfaction that counts.
By the way, if they ever send me a check for 10 cents, I will cash it and then charge 10 cents, and over pay 20 cents and let the entire game start again.
I am hoping that some human being from the company will call me and ask me why I am keeping a credit of 10 cents on the card, then I can tell them why I am messing with them the same way they are messing with me.
I was a cardholder for 18 years. I only used Chevron gas because it was the first gas credit card I received. I had always paid my Chevron bill with my paycheck on the 15th of the month. They changed my due date without notifying me to the 12th, causing me to be late. I called customer service and the service was horrible. They raised my interest rate from 18% to 29.99% since I was late. Even though it is the first time in 18 years I had ever been late. I cancelled my card after this horrible treatment and have not been to a Chevron station since. I would encourage any law office to look into a class action lawsuit for deceptive business practices. I now get gas at Valero with my new Valero credit card. I would urge you to avoid to avoid Chevron at all costs, you will be sorry later!
I have a business gas card with Chevron. They are just as evil. I won’t even get into the details, but beware.
been a chevron card customer for yearsss, never been late. they raised my already high interest rate of 21.46 % to 29.99 % for no reason, and they did this to all customers for no reason. i’m paying this card OFF w/ my tax return. what a waste of money. chevron charges more for gasoline anyways, than most gas stations.
These guys are a ripoff card, not a gas card. Got it because they offered the discount per gallon; was late paying a few months and tried to get is straightened out, they charged late charges on the day I made payments; you have a 10-days to make the payment after receiving the bill, there’s a $5.00 report fee; fees fees fees fees is what the card is all about. You never make up for it on the gas rebates. DO NOT USE THIS CARD. I owed them $42 and they charged me $205 which was the balance from the last statement; now I have to wait 4-6 weeks to get my $163 refund. There’s absolutely no advantage to using this card at all.
Just cut those loan sharks off an hour ago on the phone!!! Been with them since 1988. Then GE Money Bank came in, and the rate became 29.99%. Hell Mobsters won’t even try to squeeze a rate that high out of you. Anyhow I owed them $212 bucks…. BUT it’s the principle of it. Money/credit cruch my $@@! Take’em shopping…high rates and games..dump’em. Will not buy Chevron Gas. If any of you all have any cards now owned taken over by GE MONEY…CLOSE THE ACCOUNT FAST!!! The will attempt to squeeze you..AVOID GE Money Bank!!!!!!!!!!!!!!!!!!
Got my bill today with a 29.99 late charge plus interest. I have the cancelled check for the charge in question which shows paid on time. Somebody wrote in the for line on the check another account number than mine. Isn’t that fraud? Not even close to my handwriting. Why should I have to take them time and energy to handle their fraudulent employee problem? 35 years of paying my entire bill monthly and always on time. They shut down my credit amount to 180 dollars and want me to send a letter and check copy so they can investigate. They can eat me!
Hi everyone. I’m from Los Angeles California and the business I work at uses a “charge card”. We were late by two days on a payment of about $700 and we were charged late fees on charges of $4000 because of the way they charge late fees. They even admitted to me on the phone that there is no way a customer can tell by the cardmember agreement how Chevron calculates late fees because they define the term “New Balance” anyway they like without defining it on paper.
Please note that we have a business charge card, that is it needs to be payed off at the end of the moment. This is different than a credit card and while I’m not sure, I think laws differ as well because its a business card and because its a charge card.
My name is Miguel and my phone number is 310-345-9518. I really want to know if what they do is legally, but we don’t have money to hire a lawyer at $400 an hour.
I contacted the FTC with my complaint but they don’t look at individual complaints. I also contacted the Los Angeles County Consumer Affairs department and they don’t look at business complaints, but they do mediate between companies and that’s where my case is currently heading. I have no idea how that will turn out.
Maybe we can get a couple of business together to split the cost of a consultation fee to find out if what Chevron is doing is legal and if it isn’t, let the lawyer file a class law case. I don’t care for the money at this point, I just want to give it to Chevron.
I was a long term Chevron customer. I cut up my
Chevron credit card today.The Chevrons bill arraived today in the mail,on the due date, now the late charge is $ 20.00
Also an additional $5.00 statement mailing charge
will be charged for future mailings. A new statements arrive every 14 days and the credit card limit has been cut back.
Scam! Scam ! Scam!
Chevron must be in financial trouble to have to rip off the customers.
Please cut up your Chevron card and be happy1
thanks,
We as a 30 year customer have stopped using Chevron credit Cards because it is impossible to pay the monthly statment by check, since the statement date is the 19th mailing on the 22nd getting to us by the 26th and GE Capital wants it processed by the 10th and they take 10 working days and do not count weekends. I had a $130.00+ charge for a late payment, they are no longer a provider of services for us.
Yep…changed my due date without notice…thought I was early but was late….canceled and shreaded.
The lost a good customer who went to Chevron because thats what I had in my wallet…..moving on to some other gas company now…
I have had the same problems with late fees as many of the Chevron card holders have had. They issued a statement with a due date that was four days later which makes it impossible to be paid on time. I called Chevron and explained that the late fee was unfustified and to close my account. Since then they have compounded the late fee three times for a total of $82.00. This is extortion and a fraudulent way of doing business.
Craig
We have a responsibility to inform our friends and family and everyone we know in our communities about Chevron and its hurtful, unfair, fraudulent business practices.
Please text,e-mail phone or fax every one you know to stop Chevron taking more money/profit from
the hard working people.
Please tell every one.
Thank you,
EX Chevron Cardholder.
I got a Texaco Chevron Gas Card; not only is there no Texaco or Chevron Gas Station in Conn.;
but they charged me a $39 late fee on the $25 annual fee; they should say card not valid in Conn
I have sent letters to the CEO, Comptroller as well as the VP advising them that I was offered a 7% interest vs a 29.99% 12 month program for a pymt plan of $42.00 per month. People we all know that if we would pay $42.00 per month with an interest rate of 29.99% and late fee of $39.00 and over draft fees this account would never be paid off at $42.00 per month!
Why did they off this to me and not keep their word?
So, for one month I decided to not pay and they kept calling me every day every day!! I mailed them their $42.00 and will but I know I will never pay off this account at this rate especially interest rate componded on late fees etc. This is sad for us consumers especially when we have asked for help to pay off our debt and they promise us something and lie
We need to ask for the attorney general for help with these situations
see my reply I totally agree after having a card with them for over 15 year plus
I agree they started charging me 29.99% and get this offered me $42.00 for a 12 month program. When do you think I will pay this off huh?
It appears the majority of you posters here are either ignorant in the purpose of a credit card or maybe even stupid.
I have not had any problems with Chevron credit card or any of the other cards I carry.
Most of you seem to fail to understand that a credit card (no matter which one) is just for the convenience of not having to carry large amounts of cash. I pay the bill IN FULL each month. This renders the interest rate they charge irrelevant. I also and pay the bill online BEFORE the date due. All credit companies provide a secure online payment web page. This ensures the bill is paid on time and I have an immediate confirmation Chevron received the payment. Never any late fees and it does not matter where the mailing address of the payment center is.
You complainers need to examine the root of your problems – YOU AND YOUR ACTIONS.
Wake up, stop living beyond your means and utilize the internet options for paying your bills.
Posting on forums like this about how you are being ‘mistreated’ by the card companies only serves to highlight the fact you don’t understand how to run your own lives.
I had moved and did not receive the email statement that I had been forced to agree to, or be charged an extra fee. As my computer had been lost in the move and I lost all my emails I contacted customer service to get the $39.00 late fee and interest charge taken off the bill. My request was sent to a supervisor and 3 days later I received a call back and was told that there was nothing they would do for me, and it was my responsibility to know when the bill was do and should have contacted the company. I advised Cecelia that I was a 16 year card holder, and if she did not take off the charges I would close my account, and did she feel that it was in the companies best interest to loose a customer who has spent at least $100 per month for $39.00. She told me that was their policy. I asked for her supervisor and was told she was her own supervisor and there was no one else to speak with. I asked for the phone of the Customer Service Department and was told that there was none. I asked for the Human Resources Dept and was told that their was none She did offer me a Close Account Request. I asked who to complain to and was given a Corporate office PO box in Norcross, GA but not a phone number. I told her Thanks for absolutly no customer service and hung up.
You must be working for Chevron.
I had no problem for 20 years with my Chevron Credit Card until the recent billing change.I also pay my bill in full within 21 days.I have
several other credit cards like American Express,
MBNA,RBC and more without any billing problems and yes no late fees.After my accountant informed me about the “Chevron Scam” and details I cancelled my card.Clerly you must be working for Chevron to assume every card holder complainer is living beyond their means.This is exactly the attidude from Chevron and ask to speak with an Chevron Manager I am still waiting for a call back from anyone from Chevron.LOL !
Trust me ,I do not need Chevron in my life and I do practice the art of living and have a comfortable life.
Thanks. The Texaco near my house advertises a 5 cents/gallon rebate, which is very tempting since I drive 100 miles/day. I was just about to apply, but first I googled “Texaco Card scam” and came across this blog. Sometimes the internet can be very useful. Thanks again!
I am from Canada. I too am having the same problems as everyone else here. When I receive my statement, I quickly write a cheque out and pay Chevron, but on my next statement I am charged with a late payment fee and interest on top of that. I called Fleetcor a few dozen times and I wasn’t even helped out at all. I was hung up a few times, and was even told that no manager was in the office to help me. This is recently, I called them and ask for a manager to call me back and I have been waiting for two months for a call back and still waiting.
I wonder if you all paid the interest? I am one who will not pay, I will let them send it to collections and file it every 3 years.
Anybody from Canada having this problem? Vancouver that is…
Chevron Credit card ie. GE Moneybank is another working man “rip off”. I had a card with Chevron for over 13 years. i always paid the balance in full and on time. I received my bill on Wednesday April 28, 2010. It was due on Sunday May 2, 2010. The earliest i could schedule on line payment with my bank as usual was Monday May 3, 2010. Yes, i got a $39.99 late fee added to my next bill in May.
I called Customer service at Chevron and the represenative, who could not speak very good english, submitted a request to waive the late fee. Of course, the request was denied.
This infuriated me. There’s nothing else one can do but pay the damn thing, never do business with Cheveron again, and tell everyone i know, and a lot of others i do not know.
D. R. Smith Houston, Texas
Please contact consumer reporter
at CTV Olsen on your side
To: Robert in CA from April 12. You are the one who is ignorant or stupid; take your pick. If you could read, you would see that 99% of us are saying we are NOT late with our payments, even those who do pay the entire balance each month. Chevron says we are late and is ripping us off. Excuse us for following the terms of our agreement.
I’ve always received my Chevron (GE $) billings about 1 1/2 to 2 weeks before the due date, but my latest billing arrived essentially on the due date, making it impossible to get the check in and processed in time.
I’ve had a feeling that this might happen; purposely on their part. I’ve seen over time Chevron / GE $ increasing their penalties for late payments (extra fees, APR’s raised to insane limits, etc.) and sensed a skunk at work. First: set up the trap to allow for more money to come in, second: set the trap by sending the billing off too late.
It’s even worse too. Unlike years past, where the postmark would show up on the envelope (indicating when it was sent), it’s now set up these days so there is no indication on the envelope of when it was sent. More “sign of the times” crap that lessens the power of consumers and increases the power of the big corrupt entities of the big USA.