Best Credit Cards For Gas Discounts 2019

Best Credit Cards For Gas Discounts 2019

Although electric cars are on the rise, the majority of us car owners are still pumping gasoline into our vehicles and it continues to be a big line item in our monthly budgets.

Credit cards with gas multipliers are a great tool to get a sizeable discount on those gas purchases, whether it be through travel rewards or straight up cash back.

If such a big slice of your monthly-spending pie is going towards gas, might as well get the most out of it, right?

2019 gas credit card rankings

We compared 48 credit cards that offer bonus categories on purchases spent on gas.

Using our math-based, unbiased algorithm, we took over 50 features from each of these cards and crunched the numbers, so you know you're getting the best of the best.

Note: The "Welcome Bonus" when presented as a dollar value is calculated by combining all one-time bonuses available to new cardholders within the first year. To qualify for the full bonus you may need to make purchases, meet minimum spending requirements, or complete special actions.

Here's a closer look at the best gas credit cards in Canada:

American Express Gold Rewards Card (5.0% Return)

Want the best gas card there is? You've come to the right place with the American Express Gold Rewards Card.

If you transfer your American Express Membership Rewards points 1:1 to either Aeroplan or Avios miles and redeem them for flights, you can expect up to a 5% return on spending for gas purchases.

Why?

Because Aeroplan miles are worth about 2.5 cents each. And this card gives you double points on gas purchases. Most other cards don't come close to a 2.5 cent point value, and if they do, they only give you 1 or 1.5 points per dollar spent instead of 2 like this card does.

It isn't cash, but a 5% return on spending is hard to ignore and the 25,000 points sign-up bonus worth about $625 doesn't hurt either!

And as one last bonus, it has no minimum income requirements either.

Scotiabank Gold American Express (4% Return)

The Scotiabank Gold American Express card is one of the only flexible travel cards that offer 4x points on gas purchases.

That means you'll get a 4% return on your spending that you can use to pay for any travel purchase booked using the Scotia Rewards Travel Service at the same prices you'd get anywhere else.

It's also one of the few cards that gives you 4x points on dining and entertainment purchases as well as grocery stores.

Related: Eating Out At Restaurants: The Ultimate Guide To Spending Less

It comes with a sign-up bonus that's worth $150 in travel too. Not bad, eh?

Scotia Momentum Visa Infinite (4% Return)

The Scotia Momentum Visa Infinite is one of the best cash back cards in Canada for many reasons – one of the biggest being that it gives you 4% cash back on gas.

There is a cap on how much you can earn in a given year, but who spends $25,000 a year on gas anyway? You'd have to run a trucking company or own a super yacht for that!

It comes with a $99 annual fee.

There's also the Scotia Momentum Visa ($39 fee - 2% on gas) and Scotia Momentum No Fee Visa (1% on gas) cards that have lower annual fees and lower rewards, but they both still offer a bonus for gas purchases.

Buts long as you have a decent amount of spending, then the Infinite card more than makes up for the annual fee difference.

TD® Aeroplan® Visa Infinite* Card (3.75% Return)

The TD Aeroplan Visa Infinite Card has a 50% bonus on gas purchases, meaning you'll earn 1.5 Aeroplan miles for every dollar you spend on the card.

This same bonus applies to the Privilege edition of this card, but the annual fee is much higher at $399.

American Express Cobalt Card (3.50% Return)

The American Express Cobalt Card is not only the best card in Canada overall, but it's great for gas-heavy Canadians as well.

You'll earn 2 points for every $1 you spend on gas, travel, and transit. And with an incredible 5 points per $1 multiplier on groceries, bars, and restaurants – you'll be raking in points wherever you go.

With each point worth up to 1.75 cents when redeemed for flights using the Fixed Points Travel Program, you'll be getting up to a 3.50% return on your gas purchases.

Tangerine Money-Back Mastercard (2% Return)

The Tangerine Money-Back Mastercard allows YOU to choose up to 3 bonus spending categories where you can earn 2% cash back instead of the usual 0.5%. You're free to choose gas as one of your categories to boost it up to that 2% rate.

Another interesting feature of the card is that your bonus spending categories aren't locked in. You can change them as your spending habits change to make sure you're always maximizing your bonus cash.

And for a limited time, when you sign up by July 31, 2019, you can earn 4% cash back on your chosen categories for the first 3 months as well.

CIBC Aventura Visa (2.29% Return)

If you want one of the best no fee travel cards in Canada, the CIBC Aventura Visa can get you there.

With 1 point for every $1 spent on gas, groceries, and the drugstore, you could be on your next trip sooner than you think.

The best part? These points are worth more than double the usual 1 cent value when redeemed for high value flights...all for a no fee card.

And you get a nice kick start of up to 2,500 points if you spend $500 in the first 4 months.

CIBC Aventura Visa Infinite (3.4% Return)

Want a bit more rewards, and don't mind spending a little on an annual fee?

Check out the CIBC Aventura Visa Infinite, which will get you a higher return on your gas purchases – 1.5 points for every $1 spent on gas.

Both the Gold and Infinite versions of the card sport a $120 annual fee and the same rewards structure. The differences between them mostly lie in their fringe perks and income requirements.

CIBC Dividend Visa Infinite (4.00% Return)

Want an even better return? If you don't care too much about perks and insurance, the CIBC Dividend Visa Infinite can earn you more points on your gas purchases than its Aventura brother.

Earn 4% cash back on gas and groceries purchases (under $80,000 in annual card spending) – all for an annual fee of $99.

CIBC Dividend Platinum Visa Card (4.00% Return)

Looking for the same great earn rate, but don't meet the income requirements of a Visa Infinite card?

The CIBC Dividend Platinum Visa has the same earn rates as it's Visa Infinite counterpart, but loses the Visa Infinite perks.

Other than that, the cards are very similar.

Still not sure which gas credit card is best for you?

Seems like a lot to digest? We hear you – that's why we narrowed down some of the most important categories and the best cards for each.

I want the highest return possible

If you just want to make sure you're getting the most rewards out of your gas purchases, look no further than our #1 card.

The American Express Gold Rewards Card will get you 2 points per $1 spent on gas purchases, plus the same great rate on grocery, drugstore, and travel purchases too.

Related: Which Grocery Store Has The Lowest Prices?

The best part? You can transfer your Membership Reward points to Aeroplan at a 1:1 ratio. And since we value an Aeroplan mile up to 2.5 cents, maximizing your miles while redeeming will give you an amazing return of 5% on gas purchases.

That's a whole 1% more return than the next leading card.

Want more? You'll get an easy welcome bonus of 25,000 points (worth $625) when you spend $1,500 on the card in the first 3 months…

No minimum income requirements, a reasonable annual fee of $150, and fantastic rewards. What more can you ask for?

I don't want to pay an annual fee

If you feel like you spend enough on gas already and don't want to add an annual credit card fee on top of that, we've got you covered with the Tangerine Money-Back Credit Card.

This unique little card lets you choose 2 categories to earn 2% cash back on. And, you guessed it, one of these categories is gas.

Plus if you have a Tangerine Savings Account, and deposit the rewards in there, you get to choose another category to earn this bonus rate on – bringing your total to 3, all for no annual fee.

Don't have a Tangerine bank account? No worries, you can apply right here – it's free.

I want travel rewards for my gas purchases

If your favourite type of credit card reward is travel (and you don't want to deal with an Amex card), a great choice is the TD Aeroplan Visa Infinite Card.

For an annual fee of $120 – which is waived for the first year – you'll earn 1.5 Aeroplan miles on every $1 spent on gas (and grocery, drugstore, and aircanada.com purchases). Though this is capped annually on the first $80,000 spent, that still gives you room for more than $2,000 in rewards.

You'll also be able to enjoy great Air Canada perks while travelling, plus an extensive suite of travel insurance.

I want cash back for my gas purchases

If cash back is more your cup of tea, the Scotia Momentum Visa Infinite will get you 4% cash back on all gas and grocery purchases – which, by the way, is the highest spending bonus of any cash back card.

Related: Best Cash Back Credit Cards In Canada 2019

Plus if you apply right now, you'll earn 10% cash back on all purchases for the first 3 months (up to $2,000 spent).

For a $99 annual fee, which is waived for the first year, you can get a lot with this card – no wonder it's our #1 cash back credit card for 2019.

I want flexible credit card rewards for my gas purchases

Can't decide if you'd rather cash back or travel rewards? Why not both!

The Scotiabank Gold American Express Card will get you 4 Scotia Rewards points on every $1 you spend on gas, plus the same great rate on grocery, restaurant, and entertainment purchases.

You can redeem these for any travel at 1 cent point value, or for statement credits (basically cash) at a 0.8 cent point value.

So, what credit card do you use to buy gas?

Personally, my go-to card for gas purchases is the American Express Gold Rewards Card so I can transfer my points to Aeroplan in the hopes of achieving a 6% return or more.

What about you? Which card will you use?

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Editorial Disclaimer: The content here reflects the author's opinion alone, and is not endorsed or sponsored by a bank, credit card issuer, rewards program or other entity.

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Comments

Chris
Chris 's picture
We use our Target Red Card to get 5% off then buy the gas either at Petro Canada (using discounts with Petro Points) or we use the Sobeys/Superstore at Esso coupled with the gift cards from Target.
October 21, 2014 @ 5:17 pm
Stephen Weyman
Stephen Weyman's picture
That's a great point about using the Target card to secure a discount on gift cards. I'm writing a follow up article about how to save money using gift cards that will hopefully be published in the next few weeks. Great strategy!
October 21, 2014 @ 10:41 pm
John
John's picture
Using the Cdn Tire Options card still does not get as good a discount as their Gas Advantage card. I had a 14 x coupon and filled my car (60 l) and it was less than the 4.80 I would have gotten on Gas Advantage. The Options card is a lot less rewarding than it used to be. Most of my gas is much cheaper as I border cross every day for work.
October 21, 2014 @ 11:52 pm
Stephen Weyman
Stephen Weyman's picture
Ya, the options card is basically junk, especially considering you can get the gas discount using another better rewards card by buying Canadian Tire gift cards first with that, and then using the gift cards to buy gas + using the multiplier coupon. I'm still wary of the Gas Advantage though because you don't get any rewards on the $2000 monthly spending required to reach the max discount. You're lucky to be able to border cross every day and get cheaper gas and goods.
October 24, 2014 @ 9:02 am
Tony Alderton
Tony Alderton's picture
I use my TD Aeroplan Infinite card to buy gas. Plus I buy my gas at a Refuel station which then gives me a coupon for 2 cents a litre for use in Superstore or Independent Grocers.
October 29, 2014 @ 9:33 am
Stephen Weyman
Stephen Weyman's picture
Good catch Tony! I'm not sure why I neglected to include the TD Aeroplan Visa Infinite as it gives a 1.5x bonus just like the CIBC Aeroplan cards. I'll have to update the list to include it. Thanks.
October 29, 2014 @ 10:47 am
moi
moi's picture
PC mastercard - 7.5 cents per litre, i.e., 6.2% return assuming 1.20 per litre of gas.
October 29, 2014 @ 12:51 pm
Stephen Weyman
Stephen Weyman's picture
I'm publishing an article at Million Dollar Journey that compares gas station rewards programs soon and I mention the PC MasterCard discount there. That discount is only offered in certain regions and the discount seems to vary as well. If you happen to check back, what region are you in and is the 7.5 cents in addition to what you would normally get if you paid with cash or is that just the total discount. At Superstore affiliated gas stations in my area you get 3.5 cents per litre no matter how you pay. I don't believe there is an additional discount for paying with PC Mastercard.
October 30, 2014 @ 11:04 am
MMS
MMS's picture
Fill up @ Costco is usually 6 - 7 cents below other gas stations. That's on top of whatever reward you get from your credit card.
October 31, 2014 @ 10:08 am
Stephen Weyman
Stephen Weyman's picture
Excellent, thanks.
November 01, 2014 @ 4:50 pm
Bill
Bill's picture
If you play the Gas Advantage Mastercard right, you can get a lot more than 2.9%. First, it is free, and so are the associate cards. I have one, and my wife and married daughter are associates. Using July as an example, we spent $1095 on the card (the extra $.02 for going to $2000 isn't worth it) and by playing with the card, we actually got $902 in gas purchases. My calculations make that a 4.6% discount, with no annual fee.
October 31, 2014 @ 11:49 am
Stephen Weyman
Stephen Weyman's picture
You're right, can't believe I missed that. Targeting the $1000 spending mark increases your possible return percentage a great deal and then giving secondary cards to multiple family members to use when they fill up on gas (but not necessarily for other spending) is a great way to increase the number of litres pumped! Thanks Bill!
November 01, 2014 @ 4:52 pm
Marpy
Marpy's picture

The thing about most purchases and especially gas is that you have to look at the overall cost including the credit card reward. When you look at it this way, its hard to beat Costco. The Card may only give you 2% cash back but Costco gas is consistently cheaper than the competition by 5 to 10 cents a liter. When you add it all up, you are saving 7% - 12% on your gas. - Hard to beat.
You do though have to live close to a Costco with a gas bar to make it worth while and the line ups at Costco can be long if you go at a bad time.

June 06, 2017 @ 11:12 am
Stephen Weyman
Stephen Weyman's picture

You can still get the Costco discount if you pay with MasterCard, correct? Best to choose a top rewards credit card to go with the Costco discount. The only problem with Costco gas is the typically long lines and the lack of fill up stations nearby like you said.

June 06, 2017 @ 5:08 pm
Sarah De Diego's picture

I've recently been earning Petro Canada Points (by completing surveys, not through a credit card) and have found out that I can convert the points to CAA Dollars which is great because I have an annual plan.

I really appreciate these comparison posts and you have me doing research on which (cashback) credit card we should use (currently Canada Tire World Mastercard).

Have you ever done one on Roadside Assistance plans? I'd enjoy reading one as my husband keeps sending me (promotional) emails that he gets for all these other companies and I can't answer with confidence that CAA is the best for us.

New subscriber, Sarah.

June 06, 2017 @ 11:15 am
Stephen Weyman
Stephen Weyman's picture

A comparison on roadside assistance plans is a great idea and unfortunately I haven't done on yet. There are a few credit cards that offer roadside assistance at no additional charge but knowing if the coverage is as good as CAA is another matter. There are often towing restrictions and other things to consider. I'll add it to my list of article ideas. Thanks for reading!

June 06, 2017 @ 5:09 pm
RobertG
RobertG's picture

Regarding gas card where you can exchange for airline point , it's not good if you are an infrequent traveler or take vacation using charter flight. I was a big traveler and was using an Aeroplan Credit card but I had enought point each year to use them with Air Canada and their partner.
Now that I am retired,, a point card or rebate card is a lot better as I can choose when to travel and choose cheaper option for travel by air.
This mean card need to be chossen more in function of life style that just the best card out there.
Example regarding gas card , I am a Costo member and have the Capital One Costco , I have a Costco in my town or one on almost all itineray on my trip in Quebec. But I also travel a lot in the USA and Capital One Mastercard is not accepted in the US Costco and I go to Costco often. Then I use a TD Bank US card and I save the change fee . Also I use a loyalty card that give me ,05 per gallon saving when filling at Flying J or Pilot e, a major gas leader in the US.

Regarding roadside assistance , the best by far is the Good Sam service (US base but service in Canada also , who include all car , truck, RV trailer in a houseold of any member in the family . This is hard to beat.
I have an RV and I use it and they were great.
Bob

June 06, 2017 @ 7:43 pm
Stephen Weyman
Stephen Weyman's picture

Yes, choosing something more flexible definitely makes sense if you don't have the desire to travel. Thanks for the tip on roadside assistance.

June 08, 2017 @ 1:52 pm
Andre Lamontagne
Andre Lamontagne's picture

I use the PC Financial Master Card which gives me 4 cents per liter at Loblaw Superstore in Ottawa where I go by weekly. In Toronto, I buy gas at Costco on my may to or from Vaughan.

Thanks for the good work

June 06, 2017 @ 10:42 pm
Stephen Weyman
Stephen Weyman's picture

Thanks for sharing!

June 08, 2017 @ 1:53 pm
John Gangl
John Gangl's picture

I use my PC MasterCard in Regina to get 7.0 cents a liter off gas and diesel. If I want premium I go to Costco. We also have a couple independents where gas is usually around 8.0 to 10.0 cents a liter less than the main stream stations, but you have pay cash or by debit. I check prices with the GasBuddy app before I fill to get the lowest prices.

June 11, 2017 @ 1:59 pm
Stephen Weyman
Stephen Weyman's picture

I really wish the PC MasterCard had those benefits out east. I guess you can get up to 5 cents a litre here.

June 14, 2017 @ 8:40 pm
Kathryn
Kathryn's picture

Air Miles at Shell used to be minimum $20 but they have changed it to $15. http://www.shell.ca/en_ca/motorists/loyalty-and-payment/air-miles.html I see they also give Air Miles for some service items @ Shell, which I have never used - and the main Shell station I go to is only a gas bar in the Safeway lot. I can also pay for gas using Air Miles cash in $10 increments.

I use my TD Drivers Reward Visa card for gas - which I see is no longer available - I received mine when they discontinued the GM Visa Card - https://www.tdcanadatrust.com/products-services/banking/credit-cards/vie... I have also received bonus points for purchase of vehicle parts or service (at the dealer service). The points can be eventually redeemed towards purchase or lease of any brand vehicle, or for purchases of automotive parts or services made with the card.

I tend to go to a couple of gas company gas bars - Shell and Co-op - as they are most convenient to me in my errands. I also do not spend a lot on gas every month, so it is still minimal points. I am planning to buy a new vehicle soon and I will be able to use about $500 (rebated to card) after the purchase.

June 18, 2017 @ 11:10 pm
Kathryn
Kathryn's picture

*error alert* I was wrong in my comment above. It is 1 Air Mile per $15 of gas at Shell just with your Air Miles card, but YES, as originally stated in the column, it is 1 Air Mile per $20 on BMO AirMiles MasterCard (that was originally per $40) and that I also use. So, in theory, you get 2 Air Miles per $20 of gas - one from Air Miles card and one from BMO Air Miles Mastercard. These things get tricky. But I do like the Air Miles cash - I have redeemed at Shell only occasionally, as in when they have a bonus offer for doing so. I usually use the cash at Rexall or Safeway or Sobeys instead. If I purchased larger amounts of gas at one time, I might use the cash at Shell - I see they now have it available at the pay-at-pump pump options.

June 19, 2017 @ 3:57 pm
Stephen Weyman
Stephen Weyman's picture

You're right, it used to be 1 mile per $20 spent and you could get more than 1 mile per transaction. Unfortunately, they recently changed it to 1 mile on gas purchases 15 litres or more.

That would be a small improvement, except that now that maximum miles you can earn per transaction is 1. If you are willing to split your purchase into multiple transactions, you still could technically earn more but that takes way too long to do.

Worse, when they have 10-20x promotions, the minimum is increased to 25L to qualify so splitting the transaction becomes less feasible. Previously if you had a large tank that was empty, you could get up to 60 miles in a single transaction during a 20x promo. Now, the max you can get is 20 and if you split transactions it's still tough to get more than 40.

June 19, 2017 @ 4:11 pm
Kathryn
Kathryn's picture

I guess I missed that 1 mile per purchase (basically) part as well. As mentioned, though, I do not use a lot of gas so when I go (to Shell anyway) I just make sure to buy 15 L - usually I pay at the pump and get enough $$ to get 15 L. (Our gas has gone under .90/L in the past couple of weeks, so 15 L costs more.) I do not travel long distances and usually just keep the tank at half full (of the 76 L tank) so that is my usual weekly $$ amount! I also occasionally went to the Extra Foods (Superstore) gas bar as it was next to another regular stop - but that was when they offered the cash bonus receipts for use in the store - and the only reason I ever went there (not my favourite). Now it is an emergency stop so I don't have to go elsewhere.

June 20, 2017 @ 4:38 pm
Ty
Ty's picture

The New TD CASH BACK VISA INF can get me 3% on gas with$15000 cap. Hassle free, good enough.

October 22, 2017 @ 9:56 pm
RMc
RMc's picture

Regarding the CTC GAS ADVANTAGE card, a couple of other points to consider. I have found that CTC gas in my area is often priced higher than gas at other stations. For example, I can usually buy ESSO or Shell gas for 3 to 7 cents per litre less than the posted price at CTC. This makes the real savings at CTC only 3 cents per litre in some cases. So the real rate of return can be much less than expected. Depending on your monthly spending, you might actually have a net loss. Another point to consider is that CTC gas is not a Top Tier gasoline while ESSO and Shell and Petro Canada are. My personal experience has been that my vehicles get slightly poorer mileage using CTC gas which also needs to be factored into the equation.

July 13, 2018 @ 7:06 am

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