Is the Marathon Oil credit card truly a good way to combat high gas prices for the rest of 2013 and next year in 2014?
There a tons of gas cards on the market, but not all of them are a good deal. Here’s what you need to know about the Marathon offers.
There are actually 3 different cards…
1. Regular Marathon Card
- Not a major credit card – can only be used at Marathon gas stations.
- The interest rate depends on which state the cardholder lives in. The application states that the APR in 48 states ranges from 12% to 21%. The two states with lower APRs are Arkansas at 5% and Texas at 10%.
- Ohio-based customer service, which is a plus.
- There is no rewards program and no annual fee.
Verdict: For those with bad credit that can’t qualify for a regular card, this might be worth considering to use as a tool to rebuild credit. For everyone else this Marathon credit card is a bad idea.
2. Commercial Marathon Card
- This is a credit card for businesses that can be used only at Marathon gas stations.
- The APRs on this Marathon business card are the same as what you will find on the regular consumer card.
- Provides a commercial billing statement each month that provides the date, location, and dollar amount for each transaction.
- This business card has no annual fee and offers no rewards.
Verdict: This card doesn’t appear to offer any unique benefits. As an alternative, there are a handful of major business cards on the market that give 3% cash back at all gas stations, including Marathon. In my opinion these business credit cards with gas rebates make more sense.
3. Marathon Visa Credit Card
*Note: Previously there was a Chase Marathon MasterCard, but in 2012 it was discontinued. It was replaced with the following card, issued by Comenity.
- This is a Visa so it can be used anywhere Visa is accepted.
- There is no annual fee.
- The rewards on this are significantly lower than the old Chase Marathon credit card. With the new Comenity Visa, the rewards program now uses confusing tiers:
Verdict: Do the math and you will see this is a rotten deal! Here’s an example to show you:
You spend $1,000 in a month.
You purchase 30 gallons of fuel.
Rebate = $7.50 (0.25 x 30 gallons)
Earning $7.50 for $1,000 in purchases is less than a 1% rebate!
This is a completely rotten deal and they probably hope customers don’t do the math to figure this out. This is a far cry from the discontinued Chase Marathon MasterCard which gave 5% at their stations and 1% elsewhere. Unfortunately Chase no longer offers that. Now we’re just left with this crappy offer from Comenity Bank (previously known as World Financial Network National Bank, who is notorious for their bad customer service).
Should you look elsewhere?
There are actually a few gas credit cards that give 5% cash back at every gas station, including Marathon. To find out more check out the top gas rebate credit cards.
Written or last updated October 26, 2013