Whether you’re looking for points or cash back, these cards will help you earn benefits from your fuel expenses.
Advertisement
Photo by Jenny Ueberberg on Unsplash
Gas costs can be a hefty line item, especially for Canadians with a daily commute or even a hybrid situation—and it’s one that is largely out of our individual control. Using the right credit card when you fill up will earn you a return on your fuel expenses. But which card should you pick? We break down the options in our list of the best credit cards for gas.
Advertisement
Advertisement
Find your next credit card*
See cards tailored for you from over 12 banks and card issuers
Best for cash back on gas with no fee • Get 2% cash back on unlimited purchases in two categories, including gas • 2% in up to two other spending categories
Best for roadside assistance • Get 3% cash back on gas (up to $15,000 annually) • Complimentary emergency road services through the TD Auto Club Deluxe membership
Best for gas and travel • Earn 3 Scotia Rewards points per $1 spent on gas • Travel perks that include no foreign transaction fees; and travel emergency medical, trip cancellation, flight delay, lost baggage and accident insurance
Best for gas at Esso • Earn at least 30 PC Optimum points per litre at Esso and Mobil stations
$0
Best cash back credit card for gas
CIBC Dividend Visa Infinite
With the Dividend Visa Infinite, CIBC offers a strong contender in the cash back credit card category, especially for drivers, and even more so if you add your grocery bill to this card. With a return of 4% on gas and groceries, this card is designed to put money back in your pocket. There are other bonus categories to earn cash back, including 2% on daily transit (including rideshares and public transit), so you get rewards on all modes of transit, as well as 2% on dining and recurring payments.
Annual fee: $120 (waived for the first year)
Interest rates: 20.99% on purchases, 22.99% on cash advances (21.99% for Quebec residents), 22.99% on balance transfers
Earn rate on gas: 4%
Rewards on other purchases: 4% cash back on groceries, 2% on dining, daily transit and recurring bills, and 1% back on everything else
Welcome bonus: Earn 10% cash back on all purchases (up to $250 in value) for the first four statements (up to a maximum of $2,500 in purchases), plus an annual fee rebate for the first year. To be eligible, you must apply online.
Additional benefits: Emergency travel medical; car rental collision and loss damage insurance; mobile device insurance; plus save up to $0.10 per litre at participating Chevron, Ultramar and Pioneer gas stations when you link your card with the Journie Rewards program.
Annual income requirement: Personal income of $60,000 or household income of $100,000
The Tangerine Money-Back Mastercard has no annual fee and it offers straight cash rewards, which gives it strong appeal to a large number of Canadians. Credit card holders are rewarded with 2% cash back on unlimited purchases in two categories of your choosing, including gas, groceries, restaurants and drugstores. Opt to have your cash automatically deposited into a Tangerine savings account to receive 2% cash back in a third category. (You’ll earn 0.5% on everything else.) Plus, you can transfer balances from higher-interest cards at a low promotional interest rate of 1.95% for six months. For those who want to monetize their fuel purchases without paying for the privilege, this no-frills card is a winner.
Annual fee: $0
Interest rates: 19.95% on purchases, 19.95% on cash advances, 19.95% on balance transfers
Earn rate on gas: 2% cash back
Rewards on other purchases: 2% in up to two other spending categories of your choice and 0.5% cash back on everything else.
Welcome bonus: Earn 15% cash back when you spend up to $1,000 in everyday purchases within your first 2 months (up to a limit of $150 cash back). Must apply by December 29th, 2022.
Additional benefits: Purchase assurance and extended warranty
The TD Cash Back Visa Infinite is a strong money back card offering a 3% return on gas, grocery and recurring bill payments (and 1% back on everything else). The return rate on gas would be enough for the card to place on our list, but it’s actually the roadside assistance (among other perks) that make it a standout card for drivers. Cardholders have complimentary emergency road services through an included Deluxe membership with TD Auto Club. This package includes 24-hour emergency assistance calls, towing, lockout and winching services, traffic accident emergency transportation, meals, accommodations and necessities, and even reimbursement options for issues TD Auto Club was unable to assist with. Plus, cardholders have auto rental loss and collision insurance and discounts at Avis and Budget. For frequent commuters or road-trippers, these perks can easily cover the card’s annual fee.
Annual fee: $139 (waived for the first year)
Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
Earn rate on gas: 3% cash back (up to $15,000 annual spend)
Rewards on other purchases: 3% cash back on groceries and recurring bill payments (up to $15,000 annual spend each); 1% back on everything else.
Welcome bonus:Earn 10% cash back on all purchases for the first 3 months up to a total spend of $2,000. Plus, first year no annual fee for the primary and additional cardholders. Must apply online by May 28, 2023.†Quebec residents, please click here.
Additional benefits: Automotive benefits like rental insurance, discounts on car rentals and a Deluxe membership with TD Auto Club; travel insurance, including travel medical and delayed or lost baggage; access to Visa Infinite perks, such as concierge services and complimentary room upgrades when you travel.
Annual income requirement: Personal income of $60,000 or household income of $100,000
If you’re looking to turn your fuel purchases into points, look no further than the Scotiabank Gold American Express credit card. This card operates within the Scotia Rewards program, which allows collectors to redeem their points for travel rewards, merchandise, gift cards and even credit to put against their card balance. Cardholders earn 3 Scotia Rewards points on every $1 spent on eligible purchases including gas, public transit and streaming services, and 5 points per $1 on groceries, restaurants and entertainment. Double-dip with the gas points program of your choice and earn even more.
Annual fee: $120
Interest rates: 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
Earn rate on gas: 3 Scotia Rewards points per $1
Rewards on other purchases: 5 Scotia Rewards Points per $1 spent on groceries, dining and entertainment, 3 points per $1 spent on public transit, rideshares, taxis and online streaming services, 1 point per $1 spent on everything else.
Welcome bonus: Earn up to $850* in value in the first 12 months, including up to 45,000 bonus Scene+ points and first year annual fee waived. Offer ends 30 April 2023.
Additional benefits: No foreign transaction fees; travel emergency medical, trip cancellation, flight delay, lost baggage and accident insurance; rental car collision protection; hotel or motel burglary insurance; purchase protection and extended warranty; complimentary concierge service; VIP airport lounge access with Priority Pass.
If you’re a loyal Canadian Tire shopper, you’re probably already familiar with Canadian Tire (CT) Money. The storied rewards program that dates back to the 1950s. Nowadays the program is digital, but the exchange rate remains the same: $1 in CT Money is equal to CAD$1. With the no-fee Triangle Mastercard you’ll earn 4% back on purchases at Canadian Tire and partner stores like Sport Chek and Mark’s/L’Équipeur, as well as 1.5% back on groceries (except at Walmart and Costco). Plus, you have access to other perks like the no-fee, no-interest financing program which lets you pay off larger purchases in installments.
Annual fee: $0
Interest rates: 19.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers
Earn rate on gas: $0.05 per litre on gas purchased at Gas+
Rewards on other purchases: 4% in CT Money on spends at Canadian Tire, Sport Chek, Mark’s/L’Équipeur, Atmosphere, Party City, Sports Rousseau, Hockey Experts, L’Entrepôt du Hockey, and participating Sports Experts stores; 1.5% in CT Money on groceries up to $12,000 annually.
The PC Optimum program is one of the most popular rewards programs in Canada, due in part to its flexibility and ease of use that lets you redeem at the till. The no-fee PC Financial World Elite Mastercard offers accelerated earn opportunities at Shoppers Drug Mart and Loblaw-family groceries stores like No-Frills, Real Canadian Superstore and Fortinos, and at more than 4,500 Esso and Mobil gas stations across Canada. The last of which is where you’ll get at least 30 points per litre (rates vary by location). PC Optimum points can be redeemed at a rate of 10,000 points (equal to $10) by simply showing your card at the till of a participating retailer. At Esso, you can redeem points for gas and car washes.
Annual fee: $0
Interest rates: 20.97% on purchases, 22.97% on cash advances, 22.97% on balance transfers
Earn rate on gas: At least 30 PC Optimum points per litre at Esso and Mobil
Rewards on other purchases: 45 PC Optimum points per $1 at Shoppers Drug Mart; 30 points per $1 at Loblaw-family grocery stores and at PC travel; 10 points per $1 spent everywhere else
Welcome bonus: None
Additional benefits: Travel emergency medical insurance; car rental collision/loss damage coverage
Annual income requirement: Personal income of $80,000 or household income of $150,000
Short answer: It’s complicated. This is the most confusing aspect of choosing a gas card option. A gas card is a type of credit card that’s associated with a retailer, like Petro-Canada or Shell, and allows you to collect points or rewards only at their pumps. Then there are credit cards associated with points programs, like Scotia Rewards, Air Miles and PC Optimum, which allow you to collect and redeem for a wide variety of rewards beyond just gas. There are plenty of different ways you can use these products together, but you typically earn more rewards by using “regular” credit cards in tandem with points programs than you do by using a gas credit card alone.
There’s not a single, straightforward answer to this question. The best credit card for gas depends on many factors, such as your personal spending habits, your membership in loyalty programs, and even what gas retailers are located closest to you. If you want cash back, the CIBC Dividend Visa Infinite offers one of the highest earn rates. Other cards, such as the TD Cash Back Visa Infinite and Scotiabank Gold American Express, come with perks that are great for long-distance drivers and frequent travellers.
If a link has an asterisk (*) at the end of it, that means it's an affiliate link and can sometimes result in a payment to MoneySense (owned by Ratehub Inc.) which helps our website stay free to our users. It's important to note that our editorial content will never be impacted by these links. We are committed to looking at all available products in the market, and where a product ranks in our article or whether or not it's included in the first place is never driven by compensation. For more details read our
MoneySense Monetization policy.
