Summer travel, gasoline and earning credit card rewards

Summer travel and gasoline go hand-in-hand, and with consumer demand for gasoline approaching its annual peak, people across the country are preparing to drive to vacation destinations. Motorists might be interested in learning more about the “Best & Worst States for Summer Road Trips,” the “Best Gas Rewards Credit Cards,” and a new “Gas & Travel Survey.”

A road trip report prepared by WalltHub.com recently found California ranks 33^rd nationally for summer driving, and you can find out why below.

Road Tripping in California (1=Best; 25=Avg.):

1^st – Number of attractions

37^th – Lowest price of three-star hotel room

50^th – Average gasoline prices

12^th – Nightlife options per capita

11^th – Vehicle miles traveled per capita

47^th – Car thefts per capita

2^nd – Access to scenic byways

46^th – Lowest price of camping

1^st – Driving laws rating

16^th – Fatalities per 100 million vehicle miles traveled

Survey key findings and best gasoline rewards cards:

• 84 million people think everyone should have to take a test to get a credit card, just like a driver’s license.
• 11X more people want gas rewards from a credit card than rewards for Uber/Lyft rides.
• 51 percent of drivers choose where to get gasoline based on price, followed by convenience (36 percent) and the brand (11 percent).
• 63 percent of people want rewards on gasoline more than any other type of travel purchase.
• The Wells Fargo Propel Card is one of 2019’s best gasoline rewards cards, offering 3 percent back on gasoline, travel, dining, and rideshares, along with 1 percent back on other purchases and a $300 initial bonus. It has no annual fee.

According to WalletHub’s CEO Odysseas Papadimitriou the best type of gasoline rewards credit card  can be found among credit cards that give bonus rewards on gasoline at any station, along with purchases in other popular spending categories, or on all travel purchases including gasoline, he said in a news release.

“Such general-purpose cards offer much more flexibility in earning and redeeming rewards than cards tied to specific gasoline stations. And unlike station-specific cards, many have big initial rewards bonuses for new cardholders,” he said.

He added roughly 62 percent of people say they’d apply for a credit card with gasoline rewards if it would save them at least $30 per month at the pump.

“Well, you probably won’t be able to get that from gasoline rewards alone, but it’s a good idea to consider applying for a gasoline rewards credit card if you spend at least $200 per month on gas. When you factor in an initial rewards bonus, which many cards currently offer, you’re looking at some worthwhile savings” he added in the release.

Credit card debt, ridesharing perks

In terms of credit card debt he said looking at credit card debt levels, one can certainly understand why one-third of adults think one should have to pass a test in order to qualify for a credit card.

“We collectively owe more than $1 trillion, and that kind of balance could do a lot of damage if left unchecked. However, I believe a lot of our issues can be solved with more financial literacy education from a young age. Besides, if we created a credit card test, where would we draw the line? Would you need a test for mortgages, auto loans and business loans? How about cell phone financing – can we trust people with that with no test? It’s just an avenue that wouldn’t really make much sense to go down,” he said in the release.

And if you are curious if ridesharing offers rewards, it’s becoming more popular, he added.

“Ridesharing rewards are becoming increasingly common on credit cards,” Papadimitriou said. “The Wells Fargo Propel Card and the American Express Blue Cash Preferred Card are two good options. But the fact that 11 times more people want gas rewards should be no surprise given the record-setting auto sales in recent years.”

Source: WalletHub.com