6 Best Gas Credit Cards in Canada for 2024
Aug 27, 2024These gas credit cards help you fill up on rewards each time you top up your gas tank.
Gas is a necessary and ongoing expense for many Canadians. If you’re going to spend money at the pumps, why not get rewarded for it? The best credit cards for gas in Canada are designed to help you maximize rewards on fuel purchases.
Best gas credit cards in Canada
Rewards breakdown
Rewards breakdown
NerdWallet's take
NerdWallet's take
Card details
Card details
Rewards breakdown
Rewards breakdownNerdWallet's take
NerdWallet's takeCard details
Card details
Rewards breakdown
Rewards breakdownNerdWallet's take
NerdWallet's takeCard details
Card details
Rewards breakdown
Rewards breakdownNerdWallet's take
NerdWallet's takeCard details
Card details
Rewards breakdown
Rewards breakdownNerdWallet's take
NerdWallet's takeCard details
Card details
Rewards breakdown
Rewards breakdownNerdWallet's take
NerdWallet's takeCard details
Card detailsMethodology
BACK TO TOPNerdWallet Canada selects the best gas store credit cards based on their overall consumer value as well as their suitability for specific kinds of consumers. Factors in our evaluation methodology include each card’s annual fee, rewards earning rates, ease of use, redemption options, domestic and international acceptance, promotional APR period, bonus offers, insurance offers, and additional cardholder perks. Only cards that earn elevated rewards on gas purchases were considered.
What to know about gas credit cards in Canada
Credit cards that earn points or cash back at the pumps are ideal for those who frequently spend on fuel. If you have a long commute to the office, work for a rideshare service or own a gas-guzzler, this kind of card might make sense for your wallet.
Which credit cards offer the most valuable rewards on gas?
Plenty of credit cards earn rewards on dollars spent on fuel, but earn rates and rewards values differ — sometimes dramatically. Getting the biggest bang for your buck is a matter of determining the monetary value of different rewards points to compare the cash-back equivalent per dollar spent.
Some rewards programs publish the monetary value of their points, while others don’t. To develop monetary valuations for programs that are less transparent about the value of their points, NerdWallet Canada compared hundreds of reward redemption data points. We looked at some of the most popular gas cards in Canada to determine the potential value of different gas credit card rewards rates.
Credit cards that reward transit and EV charging
Not everyone drives a car that runs on gasoline, and others don’t drive at all. For some Canadians, transit and electric vehicle charging expenses replace traditional fuel expenditures. Some credit cards that reward gas spending also reward EV charging expenses, including the CIBC Dividend® Visa Infinite Card, BMO CashBack® World Elite®* Mastercard®*, and RBC ION+ Visa Credit Card.
It’s also not uncommon for gas credit cards to reward rideshare and public transit spending.
How to choose a gas credit card
When comparing gas credit cards, consider the following:
Spending habits. A gas credit card is most valuable for those who regularly spend on vehicle fuel.
Rewards programs. When comparing credit card rewards programs, explore earn rates, redemption options, and program terms and conditions to determine whether it’s a program you want to participate in.
Earning caps. Some credit cards limit the rewards you can earn over specific time periods, so check the fine print for any program conditions.
Annual fees. Generally, the higher a credit card’s annual fee, the more luxurious its perks. Whether a card’s annual fee is worth paying depends on your budget and lifestyle.
Welcome offers. An introductory bonus adds additional value to a credit card but read the offer’s conditions so you’re aware of any cardholder actions required to unlock the offer.
Eligibility criteria. Some credit cards carry credit score and annual income eligibility criteria, so consider any qualification criteria before you apply.
How to get a gas credit card
If you prefer to apply in person and the card provider you’ve selected has a bank branch that you can access, you can fill out an application during business hours. Otherwise, a credit card application can be completed online. The process typically entails:
Visiting the provider’s website and navigating to the credit card’s webpage to start the application.
Entering your personal information, including your full name, date of birth, residential address, phone number and email address.
Submitting any required information to the card provider about your employment status.
Submitting any required information to the card provider about your finances.
Reviewing the card’s insurance coverage and terms and conditions.
Submitting your application.
Some credit card providers offer same-day application decisions, while others may take a week or two to process your request.
Gas credit card alternatives
While gas credit cards offer attractive rewards for road trippers, commuters and highway regulars, they won’t be practical for everyone. If gas purchases don’t comprise a sizable chunk of your everyday expenses, it may be worthwhile to explore alternative credit card options:
Grocery credit cards. Credit cards that offer elevated rewards on food shopping, like grocery credit cards, may be practical for those who frequently spend at the grocery store.
Travel credit cards. Travel credit cards cater to jet-setters and road-trippers alike with travel insurance, car rental discounts, free checked bags and more.
Cash back credit cards. A cash back credit card may offer elevated rewards for dollars spent on groceries, gas, dining, entertainment, public transit, recurring bill payments and more.
Exploring different card perks and reward program options can help you find a credit card that aligns with your spending habits and financial goals.
DIVE EVEN DEEPER
Shannon Terrell
Shannon Terrell