Speedway vs ExxonMobil MasterCard?

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Michael
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Speedway vs ExxonMobil MasterCard?

Postby Michael » Fri Mar 09, 2012 4:15 pm

I have two gas Mastercards shown above.

Speedway is a local convenience store brand owned by Marathon Petroleum Company.

Both cards offer decent rewards for gas (15 cents per gallon for ExxonMobil), and 40 Speedy Rewards points for each dollar charged for Speedway, and 48000 points earns you a $50 gas card with a 3 cent rollback). ExxonMobil rewards are easier: When you reach $10 accumulated rebate, it comes off your bill).

ExxonMobil's gas used to be higher, but not anymore. It is slightly higher (3-4 cents) than Speedway. I think that this is because Speedway has not gone down as much as in the past.

ExxonMobil is all over Illinois, and Speedway is there, but less numerous and not as convenient.

I was using the Speedway MC ($25000 limit) because my wife buys Speedway, and I thought thatI would maximize our rewards.

However, Mobil ($2300 limit) is more convenient.

My wife wants to stick with Speedway gas.

I should mention that my primary card is AMEX Premier Rewards Gold, so both of these Mastercards are backup for when they don't take AMEX.

I do not really use the AMEX for gas often. I do not want another credit card.

Which Mastercard should I use as a AMEX backup? If Mobil, is a $2300 limit too low? Citi is very conservative with increases.

Sorry for the length.


Money card
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Postby Money card » Sat Mar 10, 2012 11:34 pm

Have you been getting a lot of coupons from Exxon/Mobil? Does speedway offer you any coupons?

Do you go to a lot of places that don't take American Express? or just your local pizza/italian restaurants, bagel shops etc?

I have an American express card 2 levels down from you, that's right I have the green card. I never have any problems with using my green card or Discover (except when ordering merchandise from the Red Sox catalog).

I guess I would say whichever company offers the better deal would include location, coupons and discount on the card, redemption.

Since I have never heard of Speedway I wouldn't be able to help you. I have the Exxon/Mobil charge card you can only use at the gas station. But as far as your Mastercard goes obviously I have heard of that card but not Speedway.

So I don't know what to say.

Michael
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Postby Michael » Sun Mar 11, 2012 9:44 am

Thanks for your response, Money card.

There are a few places that don't take AMEX, but none where I have yet to make a purchase anywhere even close to the $2300 limit on the ExxonMobil Mastercard.

ExxonMobil automatically credits your statement when the rebates reach $10.00.

Speedway is a chain of convenience stores/gas stations owned by Marathon Oil Company, and primarily in the Midwest and Southeast states. They have about 1400 stations in seven states, including mine (Illinois). With the Speedway Mastercard, you earn 'Speedy Rewards' points at the rate of 40 points for every dollar spent on gas, and 10 points for every dollar spent elsewhere. Points are redeemable for rewards in store or for gasoline rewards. I have about 65000 points now. I am going for a $100 fuel card with a 3 cent per gallon rollback at the pump. That takes 98000 points. So, Speedway is a little more complicated when it comes to redeeming rewards. I am not a convenience store shopper; I am only interested in gas rewards. This amounts to about 4% for gas and 1% elsewhere. Occasionally, I will get an offer from Speedway, plus they have the Speedy Rewards Mall where you can earn points by shopping with online merchants. I guess Speedway has more Earning potential if you don't mind going a little out of your way for the far less numerous Speedway stations (Mobil is all over) and waiting longer to build up points for your gas reward.

ExxonMobil's redemption process is easier. However, their 'other purchases' rebate is not too good: 1/2% for first $999, 1% for $1000 to $9999, 2% for $10,000 to $14,999, and back to 1% for $15,000 and over.

Any further advice? Both cards have pluses and minuses, ExxonMobil started some type of rewards program in September called "Return and Earn" but I have not seen it in Illinois yet.

Michael

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Postby Money card » Sun Mar 11, 2012 12:01 pm

Hey Michael.

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Postby Money card » Sun Mar 11, 2012 12:31 pm

Hey Michael I guess what I would say since you don't go to the gas/convenience stores all that much. When gas prices are high after the holidays up to when they start to fall, I would use the Exxon/Mobil Mastercard where ever you go unless you want to use your gold rewards card.

When gas prices drop during the summer into the fall during that time of year then you can use your speedway mastercard.

like you said there aren't a lot of speedways so even if you went to your mall and used your speedway mastercard, even if you have more points than everyone, if there aren't alot of speedway gas stations/convenience food stores, what good would that do? I would concentrate on using the Exxon/Mobil for places that don't take American express.

But what I'm saying is every now and then I would use your speedway card, But of course at this time of year, where ever you go whether to the gap, J crew, out to eat at Legal seafood etc I would use the Exxon/Mobil over the speedway.


So how do you like your Gold rewards card? do you travel on business or do you use your gold card for personal use? Do you get your bill sent to your home or office?

As far as my green card goes I use the card for personal use like shopping at the malls, out to eat at chain restaurants, I get my bill sent to my home.

Michael
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Postby Michael » Sun Mar 11, 2012 4:22 pm

I use my Gold Premier Rewards AMEX card for all personal, and have been putting everything I can on it, except gas.

It is a great card, and gives 15,000 extra points annually, as long as your annual spend is at least $30,000. The rewards are 3 points for every dollar spent on airlines, two points on gas and groceries, and one point on all else. Annual fee is $175, for up to five cards. Free roadside assistance is another perk, a $60 annual value.

It is a great card, but I am retiring next year. I had thought that my wife and I would be the great world travelers in retirement, and that is why I signed up for this card when it first came out. Actually, I now have my doubts that our travels will be that extensive, and we don't really fly that much.

I am actually thinking of canceling this card at the end of this year. I also have AMEX Blue, with a $30,000 limit, and I am told that I can convert this to the new AMEX Preferred Everyday Blue card, which pays 6% on groceries, 3% on gas and department stores, and 1% everywhere else, all for a $75 annual fee. This may work out even better, since our biggest expenses are for groceries and gasoline.

Actually, between this card, and My Chase Freedom and Discover (when they do the 5% quarterly gas promotions), I wonder if I should use these cards INSTEAD of the specific gas cards?

P.S. Good luck with your Green Rewards card. In about 6 months, you will be eligible to upgrade to the Gold Premier. If your spending patterns warrant it, you should upgrade.

Michael

JCarter
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Postby JCarter » Tue Mar 20, 2012 11:19 pm

I would suggest you convert your American Express Blue to the American Express Blue Cash Preferred. I utilize that card for most gas/grocery purchases, and the benefits of utilizing one card easily outweigh having to carry 5 credit cards, and a gas card.

Plus it should make auditing your bills much easier.



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