Is the Giant Eagle Advantage card a good way to save on gas or not?
Do you live in Ohio, Pennsylvania, Maryland or West Virginia? If so, then you’ve probably heard of Giant Eagle Fuel Perks – a program where you can earn gas discounts for spending money at their stores. But are the savings actually worthwhile? You need to take a closer look.
Here’s a brief overview of how it works…
- You have to apply for a Giant Eagle Advantage card and get approved for it
- Earn an extra 4 cents off per gallon for every $50 you spend inside Giant Eagle and GetGo
- Earn 4 cents off per gallon for every $100 you spend on fuel at GetGo (discount is good on any future fuel purchase).
- Each gas discount is only valid for one fillup, for one vehicle
- Discount only applies to GetGo gas stations
At first glance the Giant Eagle credit card rewards don’t seem like a bad deal. But once you do the math you realize it’s really not a good offer at all. Here’s why…
4 cents off isn’t much with today’s gas prices
Think about it… you spend $50+ inside their stores so you can save 4 cents off per gallon. With the price of fuel being $3.50 to $4.00 a gallon, a 4 cent discount is only worth about t 1%. There are plenty of gas credit cards on the market that save you at least this much, if not more.
Do the math to see how little you are saving
Let me give you an example as to why the savings you get with the Giant Eagle Advantage card really stink.
- Let’s say you spend $50 at the Giant Eagle store. That earns a gas discount.
- You spend $35 at their gas station and with the discount, you would be saving about 40 cents total if gas was $3.50/gallon.
- That means your total credit card savings after spending $85 ($50 on groceries + $35 on gas) equals out to only be 40 cents… you would have only earned less than 1% on your spending!
How bad is this “deal”?
Well, when you consider just about any run-of-the-mill credit card gives 1% cash back, the Giant Eagle Advantage discounts on gas no longer seem like a very good deal, do they?
Because the Giant Eagle credit card is NOT a Visa/MasterCard/Discover/American Express, it can only be used at Giant Eagle and their affiliated GetGo gas stations. Is it really worth hassling with another card that can only be used at a couple places?
Another pitfall is that the meager rewards can only be redeemed at their gas stations. Because prices can vary so much from station to station, you got to shop around – as you know the cheapest station this week may be different than the cheaper station next week.
A better way to save money in 2013?
Instead of fooling around with the Giant Eagle Advantage, you will be much better off by going with a high cash back credit card. There are several that give up to 5% cash back at all gas stations and grocery stores. To sweeten the pot, sometimes they give cash signup bonuses of $100.00! Go here to compare the current cash back card offers available.