Submitted by: Loren Yadeski
We all know that gas prices are considerably high these days. While gas prices may cause a pinch on the average motorist, it causes a more painful pinch on business owners who need gasoline for their business to function. And I’m talking specifically about limo services. The lifeline of this business is gasoline! If you own a limo services business, then you must be on the look-out for a way to save money on gas. Luckily, the best way to save on gas has been around for a while now and is very convenient to use. The best way to save on gas is by using gas credit cards.
What is a gas credit card?
A gas credit card is also otherwise known as a gas rebate card. Gas credit cards offers rebates every time you use it to pay for gas purchases. Depending on the card company, current rebates on the gas credit cards market are somewhere between 2% to 5%. Some even offer higher rates during introductory periods, usually from 6% to 10%.
What is the difference between a gas credit card and an ordinary credit card?
A gas credit card can also be used to pay for any other purchases just like ordinary credit cards only that your save every time you use it for gas purchases. Gas credit cards can save you drastically, especially considering the current high prices of gas.
How will a limo services business save from using gas cards?
A limo gas services can save from using a gas card by using it to pay for gas purchases. This way you can earn rebates or rewards points. At the end of the billing period, the rewards points that you earn can be redeemed once they reach the redeemable limit. Rewards points can be converted into cash back which can be credited to your existing card or awarded to you in the form of a gift gas card or check. There are also other companies that offer some other forms of rewards such as airline tickets, products and gift certificates.
If you use the cash back to purchase gas, you also save more since these cash backs earn rewards as well. You actually double your savings
Do gas credit cards carry annual fees?
While there are still gas credit cards that carry annual fees, most cards don’t.
Are there any fees that needs to be paid?
Gas cards carry an annual percentage rate that is somewhere between 9.99% and 16.99%, depending on the card company. This rate is charged against the maintaining balance of the card but if you pay your bill in full and on time, you won’t have to pay for this interest.
Is there a limit to the amount my business can save?
Some companies have rebate caps or limits to the amount you can save but there are many cards available that do not have rebate caps. So when you go looking for gas cards for your limo services, go for one that do not have rebate caps.
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