Everyone needs to regularly purchase gas for their car, which makes having a gas station credit card very convenient. If you are running low on gas before getting to your destination, then you can just quickly stop at your favorite gas station without having to worry about having enough money. While being able to charge your gas purchases on a credit card is nice, it is even a better deal when including the major benefits you can receive. Sunoco is the latest gas station offering a credit card to their customers. While the Sunoco gas card certainly has some major benefits, there are also a few negatives that have to be considered as well.
Benefits
The biggest benefit of the Sunoco gas card is the large discount you will receive every time you fill up your gas tank. As a reward for just receiving the credit card, Sunoco will give you a five cent discount on every gallon of gas purchased with the Sunoco gas card. While gas prices are starting to drop, it is always nice to get a substantial discount on your gas purchases. This discount gas is given immediately. Once you swipe your Sunoco gas card to start your purchase, you will see the prices on the pump drop five cents for each grade.
The other major benefit of the Sunoco gas card is the overall convenience. There are currently just under 5,000 Sunoco gas stations in the United States, so you should never have to look very far to find somewhere to fill up your tank. The conveniences are also available away from the gas station. Your Sunoco gas card account can be managed from anywhere online. No matter your location, you will be able to control your account and pay your bill. If you are short on cash, then you can even take out a cash advance from any ATM in the country. While this is a feature found on almost every credit card, most gas station cards do not offer cash withdrawal options.
Disadvantages
While it would certainly be nice to save some money on every gas purchase, there are some big disadvantages that may keep you actually saving any money. The worst thing about the Sunoco gas card is the high interest rates. Even if you have a near perfect credit score, you can plan on having a much higher interest rate than normal on your gas credit card from Sunoco. If you credit score is not that great, then you will see even higher interest rates.
These high interest rates can potentially eliminate all of the savings achieved by using the gas card. If you are unable to pay off the entire amount charged on your gas card, then the high interest rates will eliminate any saving achieved at the gas pump. People with poor credit may be used to paying high interest rates, so they may have no trouble with the rates they receive with the Sunoco gas credit card. The high interest rates are certainly not ideal, but they can easily be avoided by paying off the bill in full each month.
Now that you know the benefits and disadvantages of the Sunoco gas card, it should be fairly simple to determine if the card will work for your needs. The five cent discount will appeal to almost everyone, but the high interest rates are not ideal for people that have trouble paying off their credit cards in full each month. Since the card has some major advantages and disadvantages, the overall quality of the Sunoco gas card can only be determined based on each individual’s planned usage of the card.
Do you get 5 cents off the credit price or cash price?
I scoured the internet and no where does it say..
I would think their own card is considered same as cash…