does a gas card build credit?

[skydragoness]

If you just get a regular gas card (one that can't be used at other merchants except the gas station) i could'nt imagine you destroying your credit. You'd be an *** not to pay a simple gas bill.

[skydragoness]

What about the Shell card? I think it's a little bit better.

Fixed apr is best, even if it's a little high, your'e going to have to deal with it, (since it would be your first card) better than having it change all the time. After 6 months or so you could upgrade to a better card, etc etc. Go through your bank-- I find they usually have the best to offer than online sign-up cards and such. As for me, i have yet to do this yet. Credit cards are the devil, i haven't got one yet.

[fiznat]

I'm going to be doing a lot of driving during the upcoming year (commuting to school to take a few classes), and I was thinking about how much it was going to cost for gas and all that... At first I was thinking I'd just use my debit card as usual but then I was thinking maybe I should go with a gas card, just cause it'd be easier to have all the time- and it might build my credit (?).

Anyone know anything about gas cards, how they work/interest rates/possible benifets/etc?

[fiznat]

ugh and by that you mean pretty crappy? I was just lookin at the ExxonMobil card, and they charge friggin 21% variable interest!! Not to mention that the grace period is LESS than a month (26 days), and there is a minimum finance charge of $1.50!

Man, why do people even bother with these things? I really wanted a gas card just for the convience, but I'm not paying almost another quarter on every dollar just for that. Might as well get a regular credit card, but then I gotta control myself and not buy turbo parts with it haha...

[fiznat]

yeah I know about credit cards (and how I am unable to control myself with them--- thats why I dont have one haha), I was just hoping that the gas cards would be a little bit better option with lower interest rates and restricted purchaces (I can only buy gas with it...). Apparantly not so far... I've checked out ExxonMobil and Texaco, next is Shell...

[fiznat]

yep, shell is prime plus 14.99%, so it's pretty much the same as anywhere else.

I think I need a credit card with like a $100 limit

[Rockenreno]

the interest rate doesn't matter if you pay it off every month. My interest rate is nearly 20% but it doesn't matter since I always pay in full.

[wangless]

i recently got a chevron cc... i got like 5 cents off every gallon lol. not much, but it took off about a $2/3 every bill. i only have a $200 limit on that one... i need more since i go to school/work a lot

but yeah... if you always pay in full... interest rate dont matter

[andrave]

I like the exxon card because it comes with speed pass. You just wave the little keychain they give you at your pump. Don't even need to take out your wallet.

I have BP and Exxon cards, the interest rates are high but like it was said, if you pay it off within 30 days you don't have to worry about the interest.

[Jesda]

Theyre similar to any typical merchant card (Sears, Macys, etc). And sometimes you get small gas discounts or bonuses toward free gas.

Yes, its good for your credit rating to have and use one responsibly.

[capbyrd]

if you pay it off it doesnt look as good to creditors. they prefer people that they can make money off of and if you dont pay interest, they dont make money.