Are gas rewards cards worth it?

PALM BEACH COUNTY, Fla. - You don't have to be an oil expert to know the price of gas is going up. You can see it every time you pull up to the pump.

While you can't control the price of oil, there could be ways to pump money into your wallet when you're filling your tank.

The U.S. Energy Information Administration says this year the price of gas will be almost 30 percent higher than two years ago.  
 
As people continue to dig deep into their wallets to make sure they get from point "A" to point "B," they're looking for ways to save.

With that in mind, some motorists are looking to rewards cards.

Bankrate.com Senior Financial Analyst Greg McBride says they might be able to find savings in the form of credit.

"If you go to the same brand of station all the time, you can get a company branded credit card," said McBride.

But with credit tied up, and many finding themselves balancing a number of credit card bills, another card to swipe may not be so appealing.

"I have so many credit cards, I don't want anymore," said driver Virginia Lang. "If I use my debit card, I can keep track of it better."

True, says McBride, but a debit card may not offer rewards that give you money back towards gas.

"You can earn up to 5% for gasoline," said McBride.

And for some that's enough to apply for a card.

"To save anything at this point is what I am trying to do," said one driver.

In Florida, the average price for a gallon of regular gas is $3.76. The national average for gas is $3.71. That's 35 cents more than a year ago.
 
McBride says while the rewards from a gas credit card may be beneficial in the long run, he says it's important not to fall behind on the bill.

"You have to pay the balance in full every month. If you carry a balance for short period of time you may not get the rewards on the card," said McBride.

Another way to save is by downloading an app on your cell phone like "Gas Buddy" which helps you find the cheapest gas in town.

You can also check wptv.com and find the lowest gas by city, state or zip code. bitly link for mobile: http://bit.ly/vZwuht
 

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