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Gas Station Credit Cards: Not the Deal They Appear to Be

Higher interest rates, lack of flexibility point to general purpose cards.

by on Apr.12, 2018

Gas station credit cards may offer some appealing perks, but often those are offset by higher interest rates and other problems.

Everyone’s looking for a good deal these days, especially on credit cards. So many cards offer a variety of bonuses, incentives and other enticements to get folks to sign up.

Some cards are better than others, and often gas station credit cards seem like they would be part of that “yes, please!” group of cards to sign up for, but a closer examination by CreditCards.com suggests that gas station cards are actually among the worst.

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First and foremost are the interest rates. These cards “offer” interest rates that average 23.61%. That rate is close to what starter credit cards or cards for those with poor credit scores are offered, usually 29.99%. (more…)