Any gas cards easy to get?

[jeff6898]

Anyone know if there is any gas cards that are easy to get right out of a BK to help rebuild credit?

[justbroke]

The only "real" gas cards are Shell, Texaco/Chevron and BP. The Shell cards are issued by CitiBank so may be tougher to get. The cards by BP are equally difficult. Texaco/Chevron are issued by GE Retail Bank and is a little easier (GECRB also issues cards for GAP stores, Wal*Mart and many other retail stores).

I am not sure I'd use a gas card to rebuild credit. I don't know that they are any easier to get than credit cards like Hooters (cancelled?), Orchard Bank, or Capitol One. Additionally, you really don't want to be carrying any balances over 30% on any card. Gas cards usually have rather low limits on them anyhow. I think the most I ever had on my Shell was a limit of $1,000. Gas cards usually have a very high interest rate (over 20%) compared to major credit cards.

I have also found that people with gas cards tend to "revolve" the costs more and "roll" the card each month (making payment but then using that much in gas).

If you want to rebuild credit, try getting a secured VISA card from your bank or credit union. One of the biggest keys with rebuilding is paying on time, not applying for a lot of unnecessary credit, not having a lot of "low limit" cards, and keeping your utilization REALLY LOW!

[Bell30656]

I got a Speedway card which I only use when traveling. There are no Speedway stations in Georgia. They gave me a $400 limit. Since I use it so rarely it actually helps my ratio.

[JessMN]

All I know is BP denied me 6 months out of BK

[Bell30656]

Don't feel like a lone ranger. BP denied me three years out of BK.

[jetsfan2010]

I had a Chevron card years ago, closed it because there were no more stations anywhere near me.

[MSbklawyer]

I've never understood why people even want an Exxon card or a Macy's card or any store card. All the stores that take these cards also take regular credit cards: Mastercard, Visa, Amex etc. Why not just get one card that you can use universally? You can pay at the pump just as well with a Visa as you can with an Exxon card. Am I missing something? Is it because they have lower credit standards and are used by people who can't get a regular credit card?

[justbroke]

You're not missing anything MSBK... as I said the same thing in a different way.

[ksgirl38]

I've never understood why people even want an Exxon card or a Macy's card or any store card. All the stores that take these cards also take regular credit cards: Mastercard, Visa, Amex etc. Why not just get one card that you can use universally? You can pay at the pump just as well with a Visa as you can with an Exxon card. Am I missing something? Is it because they have lower credit standards and are used by people who can't get a regular credit card?

Many department store cards offer extra discounts or freebies. A few of mine are worth carrying even if I only use them once a year.

[justbroke]

Many department store cards offer extra discounts or freebies. A few of mine are worth carrying even if I only use them once a year.

In the end, the costs associated with high interest rates on those cards (typically in the 20s to high 20s), does not justify the "perks"... unless you don't carry a balance.

[HRx]

In the end, the costs associated with high interest rates on those cards (typically in the 20s to high 20s), does not justify the "perks"... unless you don't carry a balance.

Most consumers are only concerned about the instant realized savings often received from department store credit cards and don't even realize the revolving balance is often times double and triple the cost of the amount saved.

[ksgirl38]

In the end, the costs associated with high interest rates on those cards (typically in the 20s to high 20s), does not justify the "perks"... unless you don't carry a balance.

Never carried a balance on any of them. I usually have the bill paid within 3 days of the purchase.

[jetsfan2010]

the point of any store card is not to carry a balance, but get a discount or additional incentive on a big purchase. If you are carrying balances month over month on 20-25 percent store cards, theres probably a correlation as to why you are on this board

[Bell30656]

Since I don't carry a balance, my Kohl's card has one purpose... to get me the discounts. I pay with the Kohl's card then go home and make my payment from my checking account. Money saved. I love having a 1-5% ratio on my credit report.

[ksgirl38]

Since I don't carry a balance, my Kohl's card has one purpose... to get me the discounts. I pay with the Kohl's card then go home and make my payment from my checking account. Money saved. I love having a 1-5% ratio on my credit report.

I do the exact same thing. It's amazing the discounts you can get sometimes.