Oil Company Cards

The advantages and disadvantages of getting an credit card from a gasoline company.

The credit cards issued by oil companies are probably the easiest in the market to get. Another plus for gas company cards is that they usually have no annual fees. This is because gas companies think that people who have their cards in their wallets are more likely to make purchases at their stations, and not somewhere else.

However, gas company credit cards have very low limits, ranging between $300 and $500, and they can be used only at gas stations selling a certain brand of gas. They usually have relatively higher interest rates. But still, they can work for people who are just starting to establish credit.

One more important note about some new oil company credit cards is that they can be used to purchase airtickets, meals, and lodging. Since the 'charge' business is proven lucrative, some oil cards are becoming more like regular credit cards that can be charged anywhere.