Sunday, May 21, 2006

Save 5% on Gasoline

Everybody's talking about the high cost of gasoline, but what can you do about it? I'll have a lot more to say on this topic in later posts, but here is today's tip.

If you have a Discover Card, or you ever thought of getting one, listen up. You probably already know that the card gives you a rebate (called a Cashback Bonus) on all purchases. The rebate varies according to how much you've bought since your last card anniversary date, and (ordinarily) maxes out at 1%.

But for the last year or two, they've been running special promotions. Every three months they have a different category of purchases on which you can get a 5% rebate. That's pretty good. Right now, through June 30, 2006, the 5% rebate is on purchases of gasoline. (Also some other automotive expenses are included in the offer.)

Think of it this way: With gasoline at $3.00 a gallon, this rebate gives you a discount of 15 cents a gallon! And you don't even have to drive farther.

It requires a signup, but it's free, quick, and easy -- either log in to your account area on their site, or call them at 1-800-DISCOVER (800-347-2683).

Some other credit cards offer good rebates also, notably the Citibank Dividend Platinum Select cards with 5% rebates on anything bought in supermarkets, drugstores, and gas stations. (The rebate on everything else is 1%.) There is a $300 yearly overall limit on rebates. Go to their site, then click "Rewards Credit Cards" to see all the options.

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