Who Is This Credit Card Best For?
Diligently searches for the best products and delights in a good bargain See more cards
Looks for good quality at a fair price while buying for the household See more cards
Hits the road often, whether for work or play See more cards
Frequently shops with a particular merchant and wants to be rewarded for their loyalty See more cards
Gas credit cards generally don’t have the best terms or benefits, and the BP Credit Card is no exception, given its steep interest rate and limited rewards. In fact, this card is probably not going to be anyone’s first choice. You’re only considered for it if you don’t qualify for the BP Visa Card—which offers a bigger gas discount and can be used anywhere Visa is accepted.
That said, if you have just average credit and BP or Amoco stations are on your regular route, the BP Credit Card may be a worthwhile choice among your more limited options. The 5-cent discount on each gallon of gas is pretty standard for a branded gas card, though there’s no gallon limit on these savings, so the card is particularly useful if you drive a big gas-guzzler. (You can get another 5 cents off by being in the BPme rewards program and spending at least $100 per month on gas, but this is available whether you have the card or not.)
One other reason to consider the BP Credit Card: Because it’s relatively easy to get, it could serve as a starter product if your credit history is still pretty thin or if you’re looking to rebuild your credit after past problems. Establishing a good track record of payments with this card could eventually help build up your credit score.
Instant savings when you fill up
Potential tool to build credit
Discount good for unlimited gallons
Can only be used at BP or Amoco stations
High interest rate
- Instant savings when you fill up: The allure of a co-branded gas card like this is that the savings are instant. Instead of waiting for points or cash back to accumulate, you’ll see the per-gallon price drop as much as 10 cents right at the pump (5 cents for having the card plus 5 cents if you’re a BPme rewards app user who has spent $100 the previous month.) Just keep in mind you have to be at a participating station.
- Potential tool to build credit: If you’re a new or lapsed credit user, getting approved for a branded gas card versus a regular credit card is often a bit easier to do. And if you can only use the card to buy gas, it’s more likely you’ll be able to pay your balance off in full each month. That’s a healthy way to build credit and a helpful way to resist overspending.
- Discount good for unlimited gallons: Some competing cards only give you their discount on a certain number of gallons per visit or per billing cycle. With this card, you can earn the discount no matter how much your vehicle guzzles or how often you travel by car.
- Can only be used at BP or Amoco stations: Because this is a private label card, you can only charge gas or products that are sold at BP or Amoco stations. (Again, if you’ve got good credit, the BP Visa Card is a better option because it can be used anywhere Visa is accepted and offers rewards on all those purchases, too.)
- High interest rate: Though it’s not unusual for a gas card to have a higher APR than a general use rewards card, it’s still worth mentioning. Carrying a balance will quickly negate any savings on gas.
BP Credit Card’s Sign-Up Bonus
For the first 30 days after you’re approved for the BP Credit Card, you’ll get 25 cents off per gallon every time you use your card to pay for gas at participating locations. (And if you join the BPme rewards program—which must be done by downloading the mobile app—you’ll get another 5 cents off per gallon for the month you join and the following month.) In other words, if your car has a 20-gallon tank, the total of 30 cents off would save you $6 right at the pump.
Earning Points & Rewards
A discount of 5 cents per gallon of gas is the equivalent of almost 2% off, assuming an average gallon of gas costs around $2.60 in the U.S. That’s not a bad rate, considering what’s available on general rewards cards for similar credit profiles, but with the BP Credit Card, you’re tied to BP and Amoco stations. Also, with a broader-use card, you’d likely earn rewards on other types of purchases and have more redemption options.
If you can afford to put down a deposit, you may be better off with a rewards-earning secured card, which is also a beneficial credit-building tool. You won’t be tied down to a specific gas station, and you may be able to get one with 2% cash back on gas purchases as well as other types of spending.
Keep in mind, too, that getting the additional 5 cents off from the BPme rewards program isn’t as easy as just downloading the app.
After your first two months in the program, there is a spending minimum to continue to qualify for the discount. You must spend at least $100 on BP and/or Amoco fuel during the previous month in order to get that additional 5 cents off in the current month. (That should be doable for most people, though, given that the average household spent $2,109 on gas in 2018, according to the U.S. Bureau of Labor Statistics.)
When comparing rewards rates, you shouldn’t factor in the 5 cents you may earn from the BPme rewards program. After all, you can use any credit card or even PayPal and still get the other 5 cents off as a BPme rewards member.
You can also use your BP Credit Card for non-fuel purchases at BP or Amoco stations, and for those, you’ll earn 1% cash back redeemable as a credit on your card statement. This is a very mediocre rewards rate considering you can find 10% back on non-fuel purchases on a competing gas card and there are plenty of rewards cards, even for people with imperfect credit, that pay at least this base rate on every purchase.
The per-gallon gas discounts are applied right when you fuel up, so there’s essentially no redemption process. This can be an attractive feature for those who like to keep things simple.
The 1% cash-back rewards earned on non-fuel purchases at BP or Amoco stations will be applied as a credit on your statement within two billing periods.
How to Get the Most Out of This Card
The BP Credit Card is pretty restrictive since you can only use it for gas and other purchases at BP and Amoco stations. You can maximize the rewards by making sure that you register the card on the BPMe app and then spend at least $100 in gas at participating stations each month.
If you’re exploring this card, chances are you’re also working on improving your credit. The best way to do that is by making sure you pay off your balance in full each month (which will also allow you to avoid paying interest from the high APR). You should also avoid maxing out your credit card, and in fact, keeping it well below your limit is best. Credit scoring algorithms keep tabs on your utilization (how high your balances are compared to your available credit lines).
Private label gas cards only make sense if you get the majority of your gas at the same stations. If BP or Amoco stations are not on your regular driving routes, the savings probably won’t be worth the inconvenience. What’s more, they must be participating stations. Use the online station finder to check locations near you.
The BP Credit card is issued by Synchrony Bank, which offers many retail cards. In JD Power’s 2019 credit card satisfaction study, the bank earned below-average ratings from consumers, ranking 10 out of 11 national issuers studied. It scored poorly for online and phone interaction, among other categories.
The BPme app is particularly convenient, however, and may help to make up for Synchrony’s shortcomings, assuming you’ve linked your credit card to the mobile wallet. If you’re at a participating station, the app will detect your location and you can select your pump number right from the comfort of your car. You’ll still have to pump the gas, but there’s no swiping or keypad entries.
The BP Credit Card has standard security features like zero fraud liability.
BP Credit Card’s Fees
The fees are typical for a gas-station-branded card, including a steep APR. There is no annual fee, which is also not unusual for the category, though still worth noting if you’ve got less-than-stellar credit. General rewards cards for an average credit profile may carry an annual fee and/or require a security deposit.