The Irving credit card was discontinued, but their new gas loyalty card is even better.
Most gas station credit cards are a terrible deal. Often times, the rewards you earn are actually less than what you would earn with a normal credit card. This is why I like Irving’s new rewards program so much… you can use it with your existing credit card!
How it works?
According to Wikipedia, Irving Oil is actually a Canadian company. But this program is still offered at their US stations which are in the northeast (CT, MA, ME, NY, NH, RI, VT). If you live in those states, you will need to sign up for a rewards account if you don’t have one already.
What it is NOT : The Irving Rewards Program is NOT a credit card, debit card, bank card, gift card or stored value card program of any kind.
What it IS: A loyalty rewards program (like CVS ExtraCare). The card is used for storing your membership information and that’s it.
Step One: Pick up a card at a station (you can’t get one online).
Step Two: Register the card on their website.
Step Three: Swipe at pump or inside before filling up.
How to maximize the rewards?
Now here’s the secret to getting the most out of the program. Since the Irving gas card is NOT a credit card, you still have to pay for the gas somehow. Fortunately they let you pay anyway you want, whether that be cash, debit, or credit. What you will want to do is always use it in conjunction with a credit card.
By using it with a credit card, it might be possible to save up to 6% per gallon. Don’t believe me? Here’s the math to prove it…
Part A: Here’s what the Irving gas rewards will earn you:
If you spent exactly along those cutoff points (meaning, you purchased a total of 50 gal at regular price, then a full 20 gal. with the discount) your spending would look like this:
50 gallons x 0 discount = $0.00 discount
20 gallons x 10 cent discount = $2.00 discount
70 gallons ÷ $2.00 = $0.0286 average discount per gallon
That means on average, the program can save you up to around 3 cents per gallon overall.
Part B: Now combine that with a good gas credit card
There are few credit cards out there that will earn you 3% to 5% cash back at gas stations. If you use one of those and combine it with the Irving gas card program, you can really make out like a bandit.
Let’s say gas is $3.00 per gallon:
5% credit card rebate X $3.00 = 15 cents
+ Irving gas rewards (around 3 cents per gallon)
18 cents per gallon total savings
Now to find the percentage, divide 23 cents by $3.00 and you get a total of 6%.
Compare that to if you paid with cash – the discount would only have been around 1%.
In both situations the percentage will change depending on the price of gas, since Irving’s discount is fixed. When the price goes up, the percentage from Irving goes down.
Irving gas rewards + rewards credit card = best deal
By using both together, you can really milk the pump. Obviously this doesn’t make gas cheap, but it is a nice strategy to score some savings off the regular price. It works out to be an even better deal than what the Irving credit card used to offer.
Written or last updated Nov 2012