Best gas rewards - Credit cards and gas rebates to save you money at the pump in Tulsa

Sweeps May 2012 - Best Gas Rewards_20120426154102_JPG

Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Posted: 05/15/2012

TULSA - Drivers everywhere are on the hunt for lower gas prices.

It definitely has been going up last couple of months. Back in October, I was getting gas for $21 for a tank and last couple times it's been over $30," said Erin Wright, Tulsa driver.

Remember when gas prices were under $3? How about $2? Here's a look back at gas prices over the last 12 years and why they jumped or declined.

She said he bought a more fuel-efficient Honda Fit to try to save money. Erin and her husband even started driving to work together to save on gas.

"It means we have to go in an hour early or stay an hour late. But (I'd) rather do that and save gas mileage than take two cars to the same place," said Wright.

If that's not an option for you, there is an easier way to save at the pump.

Cardhub.com lists the benefits of dozens of gas cards and we narrowed down the best cards that you can use here in Green Country.

Some cards are affiliated with specific gas stations, other cards, act just like your Visa or Mastercard and will work at any location.

The Pentagon Federal Credit Union Platinum Cash Rewards is at the top of the list for flexibility and benefits.
It gives you five percent cash back on gas purchases at any station, plus one percent cash back on everything else you buy. There's no annual fee, but you do have to join Pentagon Federal Credit Union at a cost of $15.

Groceries and gas tend to be two of the biggest monthly expenses that you can't avoid.

The Blue Cash Everyday Card from American Express will help you save on both.

This card offers 2 percent cash back at gas stations and department stores, as well as 3 percent at grocery stores and 1 percent on everything else. There's no annual fee.

And speaking of groceries, the more you buy at Reasor's, the bigger your discount will be at the pump.

The Reasor's Rewards Card gives you a $0.05 discount on gas for every $50 you spend inside the store  up to 20 gallons at QuikTrip stores and at the two Reasor's gas stations at 15th & Lewis in midtown Tulsa and at the store location.

A Sam's Club membership will also get you a five cent discount per gallon at any Sam's gas station. Simply swipe your membership card before swiping your credit card.

If you want an even bigger discount, consider a Sam's Club Discover Card which can earn members up to 2 percent cash back on a variety of purchases including gas.

Greg McBride, senior financial analyst, warns when it comes to cashing in on reward credit cards it's vital to pay off the balance in full every month.

"The math is real simple," said McBride.  "You're getting 1, 2 maybe 3 percent back on purchases but interest rates are 12, 13, 15 percent if you carry a balance even for a short time. It can easily outweigh what you earned in rewards on your card."

If you're looking for the lowest price in your neighborhood, use the interactive map on our Gas page and pinpoint the retailer with the cheapest prices. Reading this story on your phone? Copy http:// bit.ly/ gaspage and paste into your mobile browser.

We've also found money saving apps you can download on your phone that will help you save time and money when you're looking to fuel up.

Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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