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GasBuddy has teamed up with Shop Your Way to launch a gas rewards program. It is similar to a gas rewards credit card, but it is free to sign up and requires no credit information.
Under the new promotion, users can earn $0.30/gallon in cashback through Shop Your Way for the first 60 days. Subsequently, the rewards drop to $0.15/gallon. There’s one big catch though—the cashback isn’t actually cash.
Shop Your Way calls this “CASHBACK in Points,” meaing the “money” you accrue cannot be transferred to a bank account or credit card. Instead, the money must be used at a store affiliated with Shop Your Way, such as Sears, Ulta Beauty or Kmart. The company says they use the term “cashback” to better quantify the rewards. Many programs offer loyalty points, which can range in value based on where they are applied. With this system, there is a direct link between money spent and rewards earned.
GasBuddy users who do not want to enroll in Shop Your Way can still use Pay with GasBuddy to save money on fuel. This is a program GasBuddy launched last August, which originally offered $0.15 off per gallon for the first fuel transaction and then $0.05/gallon. The introductory rate has since dropped to $0.10 per gallon for the first fill-up. Savings are available at “95% of fuel stations nationwide.”
Is this option better than a traditional gas rewards card? For some, possibly. There is no credit history required and no fee to use the program, so anyone can apply. However, if you are looking for a credit card to boost your credit score and earn significant rewards, there are much better options. The Shell Drive for Five card has no annual fee, and offers $0.25/gallon savings for the first two months and then $0.05/gallon savings. The ExxonMobil Smart Card offers $0.06 off per gallon, and the rebates are automatically applied to each billing statement.