FINA Credit Card / Alon Gas Card Rewards

high APR on FINA gas cardAlmost all of the FINA gas stations are in Texas, but they also have a few locations in OK, AR, LA, AZ, NM, & CO. But regardless of your state, here’s how the FINA credit card operates…

First of all, is it the same as the Alon credit card?

Yes they are both the same. The FINA name is going bye and being replaced with Alon. For 2013 you may still see marketing which references both names, but they’re the same company and same card program. So when I use the names interchangeably, that’s why.

Alon/FINA “Flash Cash” gas rewards vs. the competition

The FINA gas card’s “Flash Cash” program operates is sort of confusing, so please bear with me.

You earn 1 point per dollar spent at FINA gas stations. This is what you get for them:

  • 500-999 points = $5 coupon
  • 1,000-1,499 points = $10 coupon
  • 1,500-1,900 points = $15 coupon

The coupons come with your monthly statement and $15 is the most you can earn per month. Unfortunately the points expire at the start of the 4th month so if you’re only spending one or two hundred per month on gas, your points might start expiring before you have enough to get a coupon.

If you run the numbers on the rewards, here’s the biggest drawback with the FINA credit card:

  • You are only earning a maximum of 1% cash back.
  • Ironically, your rewards are worth less than 1% for spending more in some situations. For example, spend $500 and get 500 points = $5 coupon. But if you spend $900 and get $900 points, you still only get a $5 coupon.

To sum it up, the FINA or Alon credit card is earning you a maximum of 1%. Meanwhile most reward credit cards on the market give you at least 1% so you would probably be better off using the card you already have.

If you want more than 1% there are several credit cards with 5% gas rewards.

FINA card = only worth it if you have bad credit

If you have bad credit then you probably won’t get approved for any of the gas credit cards that give a 2-5% rebate. In fact, there will be very few major credit cards that you will qualify for.

So if your credit is a mess, then applying for this card for Alon gas stations might be OK if you want to use it as a stepping-stone to building credit. The advantage is it has no annual fee, however there are several disadvantages to keep in mind while using it:

  • Can only be used at Alon and FINA gas stations.
  • Carries a high APR of 24.99%.
  • The card issuer, Comenity, doesn’t have the best reputation for customer service.

Written or last updated for 2013

 
Comments
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Out published points conversion is exactly as portrayed, however, that was primarily due to us not knowing how high we could make the redemption before it completely consumed the profit margin. In reality, we’ve been giving 2 points per dollar spend for at least the last two years, with extra bonus points for new applications and through special promotions. We will continue to monitor and adjust the rewards to try to make it the best value proposition possible for our customers.