Hess Credit Card: What They Don't Tell You
Want to get the Hess credit card? You will want to read this first to find out the real deal about the Hess gas card and whether or not it’s actually going to save you money.
If you’re from the East Coast, you probably know about Hess Oil. Based out of New York City, they are a large oil refiner. They also operate over 1,300 gas stations of their own, mostly along the East Coast.
The good news? Hess focuses on sourcing their oil from non-Middle Eastern countries, which means the petro-dollars you give them won’t be supporting those screwed up nutjobs over there. Obviously this is good reason you should buy fuel from them.
The bad news? But when it comes to paying for that fuel, if you were thinking of using the Hess gas card to do so, you may want to reconsider. Why? because it gives 3% at their stations with a cap (up to $400 in Hess purchases per month can qualify). So you may want to use something different like this card that gives you great cash back at gas stations...
Going back to Hess, here are the basics about their credit card:
Okay now for the predicament, which is the rewards program…
- Issuer/Fee: It’s a Hess Visa card that’s issued by Chase, so it can be used wherever Visa is accepted. There’s no annual fee.
- Interest Rate: The interest rate isn’t the worst I’ve seen but it's still quite high. As I write this review the standard APR on purchases is 19.24%. They used to have 2 different tiers (based on your credit) but it appears they no longer do that. The rate for balance transfers is the same and right now, I can’t find any 0% promotions for it.
The Hess Gas Rewards Program Pros + Cons
It’s safe to assume the only reason you’re thinking about the Hess credit card is for the fuel rebate, right? Well here’s what they offer…
Promo Offer: They try and get you to signup by offering a 10% rebate on purchases at Hess gas stations for the first 60 days. Now this is what I call the old bait and switch technique; if you read the fine print, you will discover that after you’ve earned $40 in rewards during this time, you can’t earn anymore on gas. It’s not an awful program, but you can do much better…
Conclusion? The maximum value of the promotion is only $40. Is a $40 bonus really enough incentive to apply for a new credit card? Not in my book!
Regular Rewards: After the promo period the rewards are you earn the following:
- There is a 3% rebate on purchases at Hess gas stations but your rewards are capped at a max of $12 per month. That means you’re only going to earn 1% on monthly spending above $400 at Hess stations.
- For all other purchases, they give you the standard 1% rebate, uncapped. However there is an exclusion for fuel purchases at non-Hess stations, which earn you even less rewards - only 0.0025% (a measly 1/4%).
Is it possible to get 3-5% at all stations, including Hess?
What they don't tell you is that there are other, more generous cards on the market that give higher rebates at virtually all gas stations, including Hess. So why fool around with the Hess card that only gives 3% when you might be able to do better? Check out these 5% gas credit card reviews to compare offers.