Is the Shell credit card really the best way to combat high gas prices? Check out this review before you apply.

As fuel prices have climbed the last few years, we’ve been forced to come up with all sorts of creative ways to save on gas: switching to more fuel efficient cars… carpooling… public transit… and of course those gas credit cards.

Nowadays it seems as every gas station has their own branded card, including Shell. To get you to sign up, they all use the same pitch: “our card will save you money!” But the reality is that many of them hide behind promotional gimmicks and other confusing reward structures that won’t save you any worthwhile amount when all is said or done.

Let’s take a look at the Shell credit cards and compare them to what’s out there…

Shell “Drive For Five” Card
This is their basic card. Because it’s not affiliated with any universally accepted payment networks (Visa, Discover, etc) it can only be used at Shell gas stations and some Jiffy Lube locations. There is no annual fee.

Interest Rate: At the time of this review, the card carries a variable APR of 24.99%… ouch!

Rewards: Previously this card didn’t offer any rewards but for 2011 they added a rebate program. It gives a nickel off per gallon, on up to 100 gallons/month. Unfortunately with the high price of gas these days, 5 cents on $4.00 gas that only equals a 1.25% rebate.

Other Benefits: I’ve read both their marketing material and the fine print and don’t see any benefits I would consider special whatsoever.

Verdict: If you are rebuilding credit and cant qualify for a normal card, then the Shell Drive For Five might be worth looking in to.

Shell Select Member Card
This is a step up from their basic card. It carries a $25.00 annual fee. Like the other, it can only be used at Shell.

Interest Rate: It’s the same as above: at the time of this review that’s 24.99%.

Rewards: Again, I am totally puzzled here. This card offers no rebates or discounts on gas. ‘

Other Benefits: It does offer a very small discount of 5 to 10% on some travel packages, hotels, etc. but only if you book them through their Shell reservation service (and pay their prices). This is totally useless because nowadays we can just hop on an online travel website, book it ourselves, and probably save a lot ourselves. Plus you can’t pay for these travel bookings with your Shell credit card. They require you to have a Visa/MC on file to charge them to.

Verdict: It offers no gas discount and the travel reservation hotline sounds like fluff to me. I would definitely pass on this, especially considering that it has a $25.00 annual fee.

Shell Platinum MasterCard
This is their only “normal” credit card; it can be used anywhere MasterCard is accepted.

Interest Rate: Previously the APR was “as low as” 11.24% which isn’t bad, but for 2011 Shell upped it big time to 23.99% (according to the MasterCard application). Also is important to note this is a variable rate card so it will go up as the prime rate goes back up.

Rewards: At first glance this appears to be a good deal but once you run the numbers it’s a different story. The card offers a 5% rebate on gas but only at Shell gas stations. It offers the standard 1% on other purchases.

Verdict: There’s two reasons I don’t like this. First of all the gas discount is only at Shell stations. Sometimes it seems to me that they cost at least 5% more than other places, so that in itself kind of cancels out the discount. They sell quality gas, but so does Exxon, Chevron, BP, etc. which are all cheaper than Shell in my area.

The second reason I don’t like the Shell credit card is because the higher rebate only applies to purchases at their stations. Even if there is one around the corner from your house, how about when you drive outside the area? You may be surprised how many areas there are that don’t have Shell gas stations – not only nationally, but even within a major county or state.

What’s The Best Gas Credit Card?
Find out with our sponsored listing of the best gas reward credit cards which is constantly updated.

This review was updated April 2011