In 2001, Chevron merged with Texaco, so its gas cards are now branded with both the Chevron and Texaco logos. Chevron offers more than one option for gas cards including cards featuring the Visa logo.
Gas Charge Cards
Gas charge cards can be a good choice if you do a lot of driving. Most feature discounts or rewards related to gasoline purchases. The Chevron card is no different, with a $.10 per gallon statement credit for the first 60 days after you are approved, up to a total of $300 in credits. These cards are good only at Chevron and Texaco stations, but for all purchases, not just gas.
The base card comes with no annual fee and can be branded as Chevron, Texaco or both -- your choice. According to a user on CreditKarma, this card is "great for people who are rebuilding their credit."
The card is easy to qualify for and it is easy to get a credit limit increase. However, another user on the same site advises not carrying a balance because of the high interest rate, which in 2013 is above 26% APR. Also, you get no purchase incentives after the first 60 days.
If you do a lot of traveling, and not just by car, you may want to consider the premium card. It has a $25 annual fee, but includes travel benefits. These include 50% discounts at certain hotels, lowered rates on car rentals, fee-free travelers checks and $25,000 of travel insurance. This allows you to earn rewards even after the initial 60-day period expires, although you will no longer earn fuel rewards specifically.
Visa Credit Card
Also available is the Chevron and Texaco Visa card, which can be used at any business that accepts Visa. Added incentives to use this card include:
- Discounted gas purchases at Chevron and Texaco stations when you make at least $300 in qualifying purchases per month. The current discount is $.10 a gallon with $300 to $999 of purchases, and $.20 for $1,000 or more in purchases. You can earn a maximum of $300 in fuel credits per year.
- Three percent discount on non-fuel purchases at Chevron and Texaco stations
- One percent discount on non-fuel purchases at any retailer where Visa is accepted
- No annual fee
If you check out the CreditCardForum, you will find a disappointing review of this card. The writer breaks down how, with the cost of gas prices hovering around $4 per gallon, your gas rebate will not save you much compared to what you spend. The writer states, "Do the math and you will see what a rotten deal that is," and asserts that it equates to a rebate of less than half of 1% if you get the rebate at $1,000.
All three of these cards are issued through GE Money Bank, which has a reputation for consistently charging high interest rates. There are numerous complaints to this end on myFICO Forum. For example, one user writes, "I loathe them due to the very high interest they charge." That is something to keep in mind before applying.
There are also two business cards available, which are suitable for companies dealing with shipping, courier services or any other industry that required a lot of driving. They are issued through a different company, FleetCor Technologies. You can choose from the following:
Regular Business Card
This card is only good at Texaco and Chevron gas stations. You can restrict the purchases to fuel only, at your discretion. To help manage your drivers, you have the option to disallow purchases during non-work hours and to set fuel-purchase limits. You can also easily track purchases, since each card has an individual driver ID. Some small business owners have complained about this card, citing a billing fee of $5, including a complaint on Ripoff Report.
Universal Business Card
You can use the universal card at any gas station that takes MasterCard, whether or not it is a Chevron or Texaco station, although buying from Chevron or Texaco can earn you rebates, starting at $.01 per gallon for each gallon between 1,001 and 2,000 per month and going up to $.06 per gallon for each gallon over $10,001 per month.
A $10 monthly fee applies only if you purchase fewer than 1,001 gallons per month using all of your Universal Business Cards collectively. Additionally, you can track purchases and set limitations, as above. This may be a better deal for those who spend in the thousands on gas per month.
The Chevron gift card is great for holiday gifts, customer rewards, and employees. They are available in denominations from $5 to $100 and can be used at the pump or inside the gas station. These prepaid fuel cards can be purchased online, by phone, or in Chevron and Texaco gas stations.