With the price of oil at such stratospheric levels lately, even people that hate credit cards are considering them, merely for the gas rewards. So how does the iconic Gulf Oil stack up to the competition? These are the different accounts they offer:
Gulf Card – This is a no frill standard-issue gas station card. It can be used at Gulf stations and that’s it. There are no rewards offered. On the website they advertise this one as “a great way to build your credit” and I would agree – when you have bad credit, you have to take what you can get! But anyone else would be foolish to apply for it since it doesn’t offer any perks. Here is something I would recommend instead:
Gulf Fleet Card – These are for businesses that buy a LOT of fuel! The basic version is free but the “commercial” and “universal” versions charge a monthly fee of $1 or $2 per card. Now you can get a gas discount with the paid accounts but only if you buy a ton; no discount for under 500 gallons per month, but above that amount the discount is a sliding scale and tops out at 5 cents off per gallon when buying 10,000+ gallons a month (so unless you are a business owner with a massive fleet of vehicles, I wouldn’t bother with this).
Gulf Oil MasterCard – This one is for regular individuals and yes, you do get a gas discount with it. Here’s what they offer:
- 3% rebate for gas purchases at Gulf stations
- 1% rebate for purchases made elsewhere
After checking over the fine print I don’t see anything about the credit card rewards being capped, which is a big plus. Another benefit is that there is no annual fee. Aside from those two things, you don’t really get much for having an account. Compared to the competition, the Gulf Oil credit card is sub-par and here’s why:
Reason #1: Restricted Rewards
Getting 3% is nice, but you only get that at Gulf Oil and nowhere else. I don’t understand why someone would choose to be restricted to one station, when it’s possible to get a card like the American Express Blue Cash Preferred that gives an unlimited 3% on gas at every station.
Reason #2: Lacking Benefits
As mentioned this card doesn’t really offer you much in terms of benefits. Obviously I don’t expect the world from a gas card, but combined with the low rebates, it’s just another reason to cross this one off your list.
Reason #3: Limited Locations
You will only find Gulf Oil stations on the eastern side of the country and even there, you will find many areas that don’t have them.
Conclusion? Yes, prices at the pump are out of control, which is even all the more reason to pass on the limited benefits you get with the Gulf gas credit card. In order to be competitive they really need to offer more.