The 10 Best Credit Cards for Gas in Canada

best credit cards for gas in canada

    It’s hard not to cringe at the cost of gasoline these days. With inflation hitting Canadians hard, the price per liter at the pump continues to stay high to the despair of our wallets. While the economy doesn’t look like it’s going to let up anytime soon, many financial institutions are offering some of the best credit cards in Canada to make the trip to the pump a little easier. Here’s our pick of the best credit cards for gas in the country.

    Gas Prices in Canada

    Historically, Canada has experienced fluctuations in gas prices influenced by factors such as global oil prices, taxes, transportation costs, and regional market dynamics. While the prices change frequently, Canadians have been experiencing an overall upward trend in gas prices and car insurance over the past years, contributing to increased costs for transportation and affecting the economy as a whole. These fluctuations have led individuals to explore various strategies to mitigate the impact on their budgets, such as fuel-efficient and electric vehicles, carpooling, and the use of comparison tools to find the best credit cards and the best car insurance policies.

    Gasoline cash back credit cards can be a beneficial tool for consumers looking to offset some of their fuel expenses. These credit cards offer cash back and rewards on gas purchases, providing a percentage, a fixed amount of money back or points on each transaction. This perk allows cardholders to earn savings or accumulate rewards points that can be redeemed for other expenses, providing a small but meaningful financial benefit in the face of rising gas prices.

    1. BMO CashBack World Elite Mastercard – Best Credit Card for Gas and Transportation

    [Offer productType=”CreditCard” api_id=”5f31593392ec22115033b2b6″]

    The BMO World Elite CashBack credit card offers a 3% cash back on gas. You get this rate on the first $300 spent per billing cycle, after which you get 1% back. You also get 5% off groceries, 4% off transportation including carpooling, taxis, and public transit, 2% off recurring payments, and 1% off all other purchases – making it one of the best gas credit card.

    Cash back can be redeemed as soon as you earn $1 and can be used to reduce your credit card balance. It can also be deposited into your chequing, savings or Investorline accounts. The BMO World Elite CashBack card comes with a host of other benefits, including access to free roadside assistance and car rental discounts.

    EligibilityDescription
    Credit Score (estimated)725
    Annual Income$80,000 personal or
    $150,000 household
    OtherBe a Canadian resident.
    Have reached the age of majority in your province or territory.

    2. RBC ION+ Visa – Best Credit Card for Gas at Petro Canada

    [Offer productType=”CreditCard” api_id=”6324a8b757179a4644cb8b42″]

    The RBC ION+ Visa offers car drivers versatile options to make the most of their rewards. It allows you to earn 3x Avion points on everyday expenses such as groceries, dining, transportation, gas, streaming services, and more, enabling you to accumulate points rapidly. All other purchases earn one point per dollar spent. Moreover, the card provides a generous welcome bonus to jumpstart your rewards.

    When it comes to redeeming Avion points, you have a multitude of choices to maximize their value. These options include cash back credits, gift cards, travel bookings through Avion Rewards, transfers to airline partners, and more. This flexibility allows you to redeem your points in the way that suits you best.

    You will save 3 ¢/L on gas with every fill-up and earn 20% more Petro-Points when you link your Petro-Points card to your new RBC credit card.

    EligibilityDescription
    Credit Score (estimated)700
    Annual IncomeNone
    OtherBe a Canadian resident.
    Have reached the age of majority in your province or territory.

    3. TD Cash Back Visa Infinite – Best for Gas Station Products and Services

    [Offer productType=”CreditCard” api_id=”6334640861728a40bc5d854b”]

    The TD Cash Back Visa Infinite credit card offers 3% cash back on gas and any gas station purchases. This rate also applies to groceries and recurring bills. All other purchases receive 1% cash back. The TD Cash Back Visa Infinite card is one of the best cash back credit cards in Canada and also comes with a generous welcome offer.

    Other benefits with this credit card include Concierge Service, exclusive benefits of the Visa Infinite Luxury Hotel Collection and complimentary membership to the TD Luxury Auto Club, which offers day and night roadside assistance.

    With the TD Cash Back Visa Infinite, you’re entitled to $2,000,000 in travel medical insurance for 10 days and baggage insurance. And if you’re planning to hit the road this summer, you can get up to 10% off car rentals at Avis and Budget.

    EligibilityDescription
    Credit Score (estimated)725
    Annual Income$60,000 personal or
    $100,000 household
    OtherBe a Canadian resident.
    Have reached the age of majority in your province or territory.

    4. Scotiabank Platinum American Express – Best for Movie Fans

    [Offer productType=”CreditCard” api_id=”62c4512c8e710d4f783b951c” id=”145016″]

    The Scotiabank American Express Platinum card is the most expensive on our list, but the savings you could get on gas might justify the $399 annual fee. It offers 2 Scene+ points for all your purchases. You can redeem your Scene+ points for movies, dining out, travel, gift items, balance credits, and more. On average, one Scene+ point is worth 0.8 cent, so you’ll earn about $1.60 for every $100 you spend on gas.

    For entertainment, you can redeem 100 points for $1 off a movie ticket, or $1 off a movie rental or purchase at the Cineplex store. In addition to the benefits of the Scene+ program, you’ll also receive offers from American Express. These include access to concierge services, airport lounges, exclusive experiences and comprehensive travel insurance.

    Do you love travelling? If you book travel through Scene+ Travel, you can redeem your points for travel with no restrictions. You will also be able to enjoy complimentary lounge access with Priority Pass to over 1200+ VIP lounges around the world thanks to the Scotiabank Platinum American Express card. Abroad, you will not be charged any foreign transaction mark-up on foreign currency purchases.

    EligibilityDescription
    Credit Score (estimated)760
    Annual IncomeNone disclosed
    OtherBe a Canadian resident.
    Have reached the age of majority in your province or territory.

    5. BMO eclipse Visa Infinite – Best Credit Card for Flexible Rewards

    [Offer productType=”CreditCard” api_id=”5ff3e0a918430b1206c2fae4″]

    The BMO eclipse Visa Infinite credit card offers the opportunity to accumulate BMO Rewards points through the loyalty program provided by Bank of Montreal. You will accumulate points at a rapid pace. You earn 5 points for every dollar spent on groceries, public transportation, food delivery, takeout, rideshares, and gas. For all other expenditures, you receive 1 BMO Rewards point for each dollar spent. Cardholders also enjoy an annual lifestyle credit of $50, which can be utilized at their discretion.

    Once your points reach a minimum value of $1, you will be able to redeem them. Your options include travel discounts, account credits, gift cards, products, and experiences. Tempted by a high-quality blender from their catalogue, it’ll cost you about 126,500 points. You can get it for free within a year of the BMO eclipse Visa Infinite card usage, provided you spend $1,650 per month in the specified categories, along with the help of a generous welcome offer.

    EligibilityDescription
    Credit Score (estimated)660
    Annual Income$60,000 personal or
    $100,000 household
    OtherBe a Canadian resident.
    Have reached the age of majority in your province or territory.

    6. Neo Credit – Best Credit Card for Gas at Shell Stations

    [Offer productType=”CreditCard” api_id=”60fed96813fd2f260ff90748″]

    Neo Credit is offered by Neo Financial, a fintech that offers cash back through its over 10,000 partners accross Canada. It boasts one of the highest cash back rates in Canada, with no limits on earnings. You can get up to 15% cash back on your first purchase at many partner stores. Which service stations offer good cash back to Neo cardholders? You can get up to 4% cashback on all purchases at Shell gas stations and convenience locations in Western Canada and Ontario.

    With Neo Credit, you can earn an average of 5% by shopping within Neo’s extensive partner network. The trick is to use the Neo app to check for offers before making a purchase. Moreover, Neo partners frequently run promotions, including some with as much as 25% cash back, making it easy to accumulate significant cash back rewards. Clearly, Netflix and LCBO are among Neo’s most well-known partners.

    EligibilityDescription
    Credit Score (estimated)600
    Annual IncomeNone disclosed
    OtherBe a Canadian resident and have a valid Canadian photo ID.
    Have reached the age of majority in your province or territory.

    7. BMO AIR MILES Mastercard for Students – Best Credit Card for Students who Travel a Lot

    [Offer productType=”CreditCard” api_id=”5f3158de92ec22115033b2b5″]

    The BMO AIR MILES Mastercard for Students is a good option for students who want to travel. AIRMILES filed for bankruptcy in March 2023, but the program is now up and running.

    The card is free for students and cardholders will get 3x the miles for every $25 spent at partner stores such as Shell, Budget, Metro and Global Pet Foods. You also get 2x the miles for every $25 spent at eligible grocery stores, and 1 mile for every $25 spent everywhere else. You can choose to redeem the points earned using you BMO AIR MILES Mastercard for Students for Cash Miles, Dream Miles, or a combination of both. Dream Miles can be used to pay for flights through the AIR MILES website. If you’d rather get merchandise in the AIR MILES store, opt for Cash Miles.

    EligibilityDescription
    Credit Score (estimated)630
    Annual IncomeNone
    OtherBe a Canadian resident.
    Have reached the age of majority in your province or territory.
    Be enrolled in a Canadian post-secondary institution.

    8. Tangerine Money-Back Credit Card – Best for Customized Bonus Rewards Categories

    [Offer productType=”CreditCard” api_id=”5f34494292ec22115033b302″]

    The Tangerine Money-Back Card is unique in that it allows you to choose from a list of purchase categories that qualify for enhanced cash back. A 2% cash back is available on any two categories from the following list: groceries, gas, entertainment, transportation and parking, furniture, restaurants, hotels and motels, recurring bill, pharmacy, and home improvement.

    Deposit your cash back into a Tangerine savings account and get a third category at 2%. All other purchases earn 0.5% cash back. Whether the cash back is deposited on the credit card statement or directly into the Tangerine savings account, it is automatically paid monthly.

    EligibilityDescription
    Credit Score (estimated)660
    Annual Income$12,000
    OtherBe a Canadian resident.
    Have reached the age of majority in your province or territory.

    9. CIBC Costco Mastercard – Best for Filling Up at Costco

    Annual fee: None
    Interest rate: 19.75% on purchases, 21.49% on cash advances
    Rebates per $100 spent on Costco gas: $3

    If you live near a Costco, the CIBC Costco Mastercard is definitely an option to consider. Not only is gas at Costco stations generally a little cheaper than elsewhere, but you get 3% cash back on your Costco gas with this card, up to $5,000 worth of fuel – making it one of the best gas credit cards you can have.

    And even if you fill up somewhere other than Costco, you can still get 2% back. For other categories of purchases, you earn 3% at Costco restaurants, 2% at Costco.ca and 1% on everything else. This card is free for the main cardholder as well as for three additional people.

    EligibilityDescription
    Credit Score (estimated)630
    Annual Income$15,000
    OtherBe a Canadian resident.
    Have reached the age of majority in your province or territory.

    10. Canadian Tire Gas Advantage Mastercard – Best for Saving at the Pump

    Annual fee: None
    Interest rate: 19.99% on purchases, 22.99% on cash advances
    Rebates per $100 spent on gas: Up to 5.92$

    Unlike the other best gas credit cards on this list, the Canadian Tire Gas Advantage Mastercard saves you money right at the pump. When you use your card at a Canadian Tire gas bar, you get a discount between 2¢ to 10¢ per liter.

    The discount is calculated based on the total amount of your purchases on your previous month’s statement: for example, if you spend $2,000 or more, you’ll get 10¢ off, but only 5¢ if you spent between $500 and $999.99. You can take advantage of this rebate up to a maximum of $500 per month, after which you will be entitled to 2¢ per liter until the following month.

    By our calculations, if you spend $600 per month and you buy 250 liters of gasoline per month from Canadian Tire at a price of $1.69 per liter, you would receive a discount of approximately $12.50 per month or $2.96 for $100 of gasoline. High spenders who get 10¢ off will save $5.92 for $100 of gasoline.

    EligibilityDescription
    Credit Score (estimated)660
    Annual IncomeNone
    OtherBe a Canadian resident.
    Have reached the age of majority in your province or territory.

    FAQs on the Best Credit Cards for Gas

    What credit card gives the most cash back on gas?

    The credit card that offers the highest cash back on gas purchases can vary depending on current promotions and offers. It’s best to compare different credit cards to find the one that suits your needs and offers the most favorable rewards for gas purchases.

    Do gas stations take credit cards?

    Yes, gas stations generally accept credit cards as a form of payment. However, it’s always a good idea to double-check with the specific gas station or consult their signage to ensure they accept credit cards.

    Is it safe to use credit card at gas pumps?

    Using a credit card at gas pumps can be safe if you take necessary precautions. It’s recommended to use pumps located near the cashier or in well-lit areas, and always check for any signs of tampering or skimming devices before inserting your card.

    What credit cards does Costco Gas accept?

    Costco Gas typically accepts Visa and Mastercard credit cards as well as the CIBC Costco Mastercard.

    Do gas credit cards build credit?

    Gas credit cards can contribute to building credit, as they are considered regular credit cards. Making timely payments and managing your credit responsibly can positively impact your credit score, including those associated with gas credit cards. However, it’s important to note that responsible credit usage extends beyond gas purchases, and overall credit management is crucial for building and maintaining good credit.

    Louis Angot is a French writer at Hardbacon where he is in charge of informing readers of the best practices in personal finance. After graduating from Concordia University with a degree in journalism and art history, he studied fashion marketing and journalism in Paris for two years. An ardent writer, he has written for several media, including Carenews, a company specialized in social and solidarity economy.