Consumer Alert: Winning the fight at the gas pump
POSTED: Monday, July 11, 2011 - 8:03am
UPDATED: Monday, July 11, 2011 - 9:23am
From NBC News — Even though prices have dropped a bit lately, there's still a lot of pain at the pump.
There's another way to save on gas that you may not have thought of.
Seeing how two out of three people use plastic to pay at the gas pumps, personal finance experts are pushing people to look at using cash back or reward cards to reduce your per gallon costs.
With rebates ranging from one to a five percent, the savings add up.
"If you're one of those people, you can save a hundred, couple hundred dollars a year, which is not nothing you know," said Catey Hill of SmartMoney.com.
But Catey Hill also issued a stern warning about falling into a bad habit with cards of all types.
"The interest rates on most reward cards not just gas rewards cards but rewards cards in general tend to be higher than just a regular credit card so that makes them dangerous if you don’t pay your balance in full each month," said Hill.
Even if you're not a heavy gas user, reward cards in general can make the fill-up less frightful.