This Phillips 66 credit card review shows you why even though it looks great on the surface, this gas station credit card is a bad deal once you dig a little deeper...

filling up at gas station
Be advised! They offer 3 different credit cards. However only 1 of them (the Phillips 66 MasterCard) offered a good fuel rebate but it was discontinued around the start of 2012. Now the cards they have left are just downright lousy. As an alternative, you would be better off now with this card that gives 3% at every station.

Let’s face it… the days of cheap gas are long gone. That’s why we need to do everything we can to save at the pump. The idea of getting a gas credit card to save money makes sense, but here’s why the Phillips 66 MasterCard and Phillips 66 personal cards aren’t the best way to do that…

For starters, Phillips 66 actually offers 3 different consumer cards – 2 personal card and 1 MasterCard. Here’s a quick review of each.

Phillips 66 credit card (personal version)
  • Not a major credit card. Can only be used at Phillips 66 and their affiliated stations (Conoco, 76)
  • There is no annual fee
  • Very high interest rate – 24.99% at the time of this credit card review
  • The rewards program is a gimmick! You earn a nickel off per gallon, but only during monthly billing cycles where you buy at least 45 gallons. Buy less than that, and you don't get a single penny in rewards! And you don't get any rewards on purchases exceeding 110 gallons per cycle.
Verdict? Even if you buy 45+ gal per month and qualify for the rewards, saving a nickel per gallon with $3.50 to $4.00+ gas means you are barely earning 1% back. Unless you have bad credit and can’t qualify for something better, what’s the point of getting it?

66 Fleet card (for businesses)
  • It is not a major card and can only be used at 76/Conoco/Phillips 66 gas stations.
  • The fees are outrageous. $40.00 account setup fee + $10.00 monthly account fee. Combined, that's a total of $170.00 for your first year alone!
  • The rebates are ridiculous. Like the Phillips 66 card featured above, you can save up to 5 cents per gallon. But with the fleet program, this is how much you have to spend each month to earn the full (and lousy) rebate:
fleet card fuel rebates

Verdict? This is a pathetic rebate structure. If you are a business, the Chase Ink gives gas rewards which are higher.

Phillips 66 MasterCard (update: discontinued for 2013)
  • Since this is a MasterCard it can be used anywhere MasterCard is accepted
  • No annual fee
  • There are two different APRs – 19.99% or 23.99% at the time of this review. The one you get is “based on your credit worthiness.”
  • This card does have a rewards program, see details below
How do the rewards work?
I actually had to turn to the fine print on the Phillips 66 credit card application to see how the rewards work. It has a tiered system which can be quite confusing…
  • “Qualifying purchases” at Phillips 66, Conoco, and 76 earn a rebate of 4%. It doesn’t say much about what’s “qualifying” but from what I can gather, the 4% rebate will be given at all affiliated stations except those which sell non-Phillips 66, Conoco, or 76 branded gasoline.
  • On all other purchases only a half-percent rebate is given for annual spending up to $5,000.00. Annual spending which exceeds this amount earns 1%. Please note that purchases made at Phillips 66 and their affiliate stations do not count towards these tiers.
  • Rebates are capped each billing cycle – a maximum of $50 can be earned
Verdict? The 4% rebate is on fuel is a great deal as long as you always fill up their stations. On the other hand, the tiered rewards structure on all other purchases is definitely a bad deal. Overall though this Phillips 66 credit card is a fine choice if you stick to using it at their stations only.
The MasterCard program has been cancelled.

A Better Alternative For 2013?
Why limit yourself to higher rebates at only Phillips 66 and their affiliated stations? Instead you can get a universal gas rebate card that gives up to 5% at all gas stations.