According to the RAC’s latest ‘Fuel Watch’ data, petrol and diesel prices are at their highest levels since December 2014, costing £66.13 to fill up an average family car with petrol. That’s nearly £10 more than it cost this time last year.
With prices at an all-time high, it’s time to start getting more out of your fuel. Many credit cards now offer cashback for fuel purchases, but with so many credit cards on the market, it can be difficult to know which one to go for. We’ve compiled a list of the best credit cards to buy fuel with, to make your money go further.
If you’re looking to really maximise your fuel spend, the AA FuelSave Credit Card could be for you. You can get 4% cashback on fuel when you spend £500 or more a month on any purchases. If you spend less than £500 a month, you can still get 2% cashback on fuel.
What’s more, you also get free breakdown cover for your first year, and a free MOT every year you hold the card after that. It is worth noting, however, that after the first year there is a £42 annual fee.
At 22.4% APR, it’s best for everyday spending that you can pay off in full each month.
If you regularly shop and fill up at Asda, the Asda Cashback Plus Credit Card could be a good option. You can get 2% cashback on all your spending at Asda – including fuel. All other purchases will earn you 1% cashback, and selected Asda Money insurance products could earn you a sizeable 10% cashback.
At 26.2% APR, it’s best for those who can clear the balance each month, however there is an annual fee of £36.
If you want a lower APR (and no annual fee), Asda also offer a normal Cashback Credit Card, which will earn you 1% cashback on shopping and fuel at Asda, and 0.5% cashback everywhere else.
Many major high street banks also offer cashback credit cards – including the Royal Bank of Scotland with their Reward Credit Card.
Whilst the cashback amounts aren’t as high as other credit cards (1% at all UK supermarkets and 0.5% on fuel), you can earn 1% at all of their ‘Myrewards’ retailers (and 0.5% everywhere else) both at home and abroad – making it a good option for frequent travellers.
It comes with a £24 annual fee, so is best suited for bigger spenders, although RBS Reward or Reward Black current account holders get a refund on the fee.
To compare and find the best credit card for you, check out our credit card comparison tool.
Last updated: Wednesday, 8 March 2017
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