Best Credit Cards for Gas in Canada

WOWA Simply Know Your Options

CIBC Aeroplan Visa Infinite

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Key Features

Annual Fee

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$139.00

Interest Rates

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Purchase: 20.99%

Cash: 22.99%

Min. Income

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Household: $100,000

Individual: $60,000

Credit Score

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Fair

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Rewards: Aeroplan Points

1 Aeroplan Point ≈ ¢1

• 1.5 Aeroplan Points for each $1 spent on: gas, grocery and Air Canada.1.5 Aeroplan Points ≈ $0.015 in cash equivalent.
• 1 Aeroplan Point for each $1 spent on: everything else.1 Aeroplan Point ≈ $0.01 in cash equivalent.

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CIBC Dividend Platinum Visa

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Key Features

Annual Fee

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$99.00

Interest Rates

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Purchase: 20.99%

Cash: 22.99%

Min. Income

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Household: $15,000

Credit Score

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Fair

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Cash Back

• 3% Cashback for each $1 spent on: gas and grocery.
• 2% Cashback for each $1 spent on: transit, restaurants and recurring bills.
• 1% Cashback for each $1 spent on: everything else.

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Scotiabank Gold American Express

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Welcome Bonus

Up to 40000 Scene+ Points in Rewards

• Receive 20000 Scene+ points when you spend $2,000.00 during the first 3 months.
• Receive 20000 Scene+ points when you spend $7,500.00 during the first 12 months.

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Key Features

Annual Fee

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$120.00

Interest Rates

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Purchase: 20.99%

Cash: 22.99%

Min. Income

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Individual: $12,000

Credit Score

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Excellent

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Rewards: Scene+ Points

1 Scene+ Point ≈ ¢0.7

• 6 Scene+ Points for each $1 spent on: grocery.6 Scene+ Points ≈ $0.042 in cash equivalent.
• 5 Scene+ Points for each $1 spent on: restaurants and entertainment.5 Scene+ Points ≈ $0.035 in cash equivalent.
• 3 Scene+ Points for each $1 spent on: gas, transit and streaming.3 Scene+ Points ≈ $0.021 in cash equivalent.
• 1 Scene+ Point for each $1 spent on: everything else.1 Scene+ Point ≈ $0.007 in cash equivalent.

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Other Perks

• Foreign Transaction Fee: 2.5%.

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  No Fee, 0%!
• Thorough insurance coverage for travel and purchases.

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CIBC Aeroplan Visa

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Key Features

Annual Fee

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$0.00

Interest Rates

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Purchase: 20.99%

Cash: 22.99%

Min. Income

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Household: $15,000

Credit Score

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Fair

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Rewards: Aeroplan Points

1 Aeroplan Point ≈ ¢1

• 1 Aeroplan Point for each $1 spent on: gas, grocery and Air Canada.1 Aeroplan Point ≈ $0.01 in cash equivalent.
• 1 Aeroplan Point for each $1.5 spent on: everything else.1 Aeroplan Point ≈ $0.01 in cash equivalent.

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An average Canadian spends about $2,000 on gas annually. Even though it is almost impossible to avoid this expense, you can save some money or get credit card rewards every time you fuel up. Some of the best credit cards in Canada offer cash-back rewards, savings per liter, or reward points on fuel purchases.

Some credit cards also offer extra points or benefits when you link the credit card with gas reward cards such as Petro-Points or Journie. Credit cards also offer redemption flexibility that allows you to use your credit card rewards points toward gas and other purchases. You can find some of the best credit cards for gas in Canada below.

Rewards for gas spending is important to look for when choosing a credit card, but you should also consider other perks and drawbacks. Many credit cards that offer high rewards for gas also have a high annual fee. You may find no-fee credit cards with gas discounts, but they usually focus on gas rewards only.

Gas credit cards are usually split into two types: general gas credit cards and branded gas credit cards. Both types of credit cards offer rewards for gas purchases as well as other perks, but usually, a person with a car will require only one credit card, depending on their gas purchasing habits.

Gas Credit Card Types Comparison

Depending on whether you use a specific chain of gas stations or choose to fill up as you go, you may be better off with a certain card.

• General Gas Credit Cards: These credit cards have good rewards for gas purchases, but gas rewards are not their main goal. General-purpose gas credit cards usually have a bundle of rewards categories that may fit a particular lifestyle. For example, there are cash-back credit cards that offer cashback on gas as well as some other categories. A lot of credit cards for groceries also offer certain gas rewards as a bundle. These cards usually have a high annual fee, but the rewards and other perks usually outweigh the fee. Gas rewards on these credit cards usually apply to all gas stations.
• Branded Gas Credit Cards: These credit cards are offered by banks, but their rewards are tied to specific gas stations. You can see these credit cards being advertised at the gas pumps. Some store credit cards also offer great deals on gas. Branded Gas Credit Cards usually have low or no annual fees, but their rewards are low for categories that are not related to gas. This type of card can benefit loyal gas station customers who do not want to worry about the high costs of the card.

  Credit Cards With Gas Discounts

  CT Triangle Mastercard	CIBC Dividend Visa Infinite	CT Gas Advantage	CT Triangle World Elite Mastercard	RBC ION+ Visa
  up to 10¢/L	up to 10¢/L	up to 10¢/L	up to 7¢/L	up to 3¢/L

Many credit cards offer rewards for gas, so you may need to choose one credit card out of many to use for gas. The following guide can help you decide which gas credit card may be best for you.

• Look for the Highest Rewards: Different credit cards have different rewards for gas. The credit cards with the highest rewards for gas purchases usually offer around 4% in dollar value on every gas purchase.
• Consider the Discounts on Gas: Some credit cards also offer a discount on certain gas stations. If you can save 10¢ on every liter of gas that costs $1.50, then you are saving almost 7%.
• Account for Annual Fee: The best credit cards for gas are usually expensive. An annual fee may easily outpace your rewards if you do not use your gas credit card enough. To better understand your net gain from the card, estimate how much dollar value you get in rewards and subtract the annual fee.
• Check for Other Rewards: Many gas credit cards have other reward categories such as groceries, travel, pharmaceuticals, etc. Even though a credit card may not offer the best rewards in the gas rewards category, it may make sense to get it if the combination of other reward categories makes sense.

The following calculator allows you to estimate how much net gain you can get with your credit card based on the amount of gas you buy monthly. It is important to note that the result assumes no interest cost. If you hold a balance on your credit card, you should estimate your interest costs because they may cancel out gas rewards. If you are planning to hold a balance on the credit card, you should consider low-interest credit cards to avoid excessive interest charges.

Inputs

Select Your Card

AMEX CobaltAMEX Gold RewardsAMEX SimplyCashAMEX SimplyCash PreferredBMO AIR MILES MastercardBMO AIR MILES World Elite MastercardBMO CashBack World Elite MastercardBMO Eclipse Visa InfiniteCIBC Aeroplan VisaCIBC Aeroplan Visa InfiniteCIBC Aeroplan Visa Infinite PrivilegeCIBC Aeroplan Visa for StudentsCIBC Aventura Gold VisaCIBC Aventura VisaCIBC Aventura Visa InfiniteCIBC Aventura Visa Infinite PrivilegeCIBC Aventura Visa for StudentsCIBC Costco MastercardCIBC Dividend Platinum VisaCIBC Dividend Visa InfiniteMBNA Smart Cash Platinum Plus MastercardMBNA Smart Cash World MastercardMeridian Visa Cash BackMeridian Visa Infinite Cash BackMeridian Visa Platinum Cash BackNational Bank ECHO Cashback MastercardNational Bank World Elite MastercardNeo Financial MoneyPC Financial MastercardPC Financial World Elite MastercardPC Financial World MastercardRBC ION VisaRBC ION+ VisaRBC moi VisaScotiabank American ExpressScotiabank Gold American ExpressScotiabank Momentum Visa InfiniteScotiabank Passport Visa InfiniteScotiabank Scotia Momentum MastercardScotiabank Scotia Momentum VisaSimplii Financial Cash Back VisaTD Bank Aeroplan Visa InfiniteTD Bank Aeroplan Visa Infinite PrivilegeTD Bank Aeroplan Visa Infinite Privilege CreditTD Bank Cash Back VisaTD Bank Cash Back Visa InfiniteWalmart Rewards World Mastercard

Purchase Rate: 20.99%. Cash Rate: 21.99%.
Gas Rewards: AMEX points per $ spent.

Monthly Gas Spending

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Show More Spending Categories

Travel

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Grocery

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Transit

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Streaming

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Restaurants

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Food Delivery

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Everything Else

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Results

Annual Dollar Value of Your Gas Rewards:	$42.00
Annual Dollar Value of Other Rewards:	$0.00
Annual Fee:	$155.88
Annual Net Dollar Loss:	$113.88

Note: 1 AMEX Point ≈ ¢1

Getting a gas credit card is relatively simple because it can easily be done online.

• Go to the website of the credit card provider and find the application for the credit card.
• Input the required information in the application. It is usually basic information such as your name, your date of birth, your address, your phone number, and your SIN (optional).
• Wait for the approval. Once you submit your application, the approval process will start. Nowadays, a lot of lenders offer instant approval credit cards that allow you to get a response within minutes.
• Receive the card on delivery. Once approved, your card will be on its way. It usually takes up to a week for your card to arrive, but some lenders provide you with a virtual credit card that can be loaded on your phone to start using it right away.

It is impossible to control gas prices, but you can control the savings and discounts you get at your local gas station. If you are someone who spends a lot of time on the road, the best credit cards for gas in Canada can help you offset at least some of your monthly fuel expenses. If you are loyal to a particular gas station and already have a gas card, you can get a credit card that can maximize the benefits for you when you link the two.