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. But if you have just average credit and BP or Amoco stations are on your regular route, the BP Credit Card may be a good 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 it 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 regardless of whether you have the card.
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 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.
Potential tool to build credit
No gallon limit
Only usable at BP or Amoco stations
High interest rate
- Instant savings: The allure of a co-branded gas card is that the savings are immediate. Instead of accumulating points or cash back, you could 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 spent $100 the previous month), as long as you’re 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.
- No gallon limit: Some competing cards only discount a certain number of gallons per visit or billing cycle. With this card, you can earn the discount no matter how much your vehicle guzzles or how often you travel by car.
- Only usable at BP or Amoco stations: Like most private-label cards, you can only charge gas or products sold at BP or Amoco stations. 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. This card even has a higher rate than other gas cards. Carrying a balance will quickly negate any savings on gas.
Bonus for New Cardholders
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 it to pay for gas at participating locations. If you download the BPme rewards program's mobile app and load your card into the app, you’ll get another 5 cents off per gallon for the month you enroll and the following month.
If our car has a 20-gallon tank, the total of 30 cents off per gallon saves $6 right at the pump.
Earning Points & Rewards
A discount of 5 cents per gallon of gas is the equivalent of about 2.25% off, assuming an average gallon of gas costs around $2.21 in the U.S. That’s not a bad rate. But with a broader-use card, you’d likely earn rewards on other types of purchases and have more redemption options.
After the first two months, continuing to earn the additional 5 cents off from the BPme rewards program requires spending at least $100 on BP and/or Amoco fuel during the previous month. However, This isn’t as lenient as other programs, which only ask for an average of two five-gallon fill-ups per month.
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 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 for 1% cash back redeemable as a statement credit. This is a mediocre rewards rate considering competing cards give 10% back on non-fuel purchases. As well, plenty of rewards cards accept people with imperfect credit and pay at least this base rate on every purchase, not just fuel.
The per-gallon gas discounts are applied right when you fuel up, so there’s no redemption process—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 are 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 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 paying 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, keeping it well below your limit., Credit scoring algorithms reward those with low utilization (your balance amounts compared to your available credit lines).
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 (up to $1,000 per quarter) as well as other types of spending.
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 2020 Credit Card Satisfaction Study, the bank earned below-average ratings from consumers, ranking 7 out of 11 national issuers studied.
The BPme app is particularly convenient 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 are no swiping or keypad entries—payment is contactless
The BP Credit Card has standard security features like zero fraud liability.
The fees are typical for a gas-station-branded card, including a steep APR. There is no annual fee, which isn’t unusual for the category, though still worth noting if you have fair credit. General rewards cards for an average credit profile may carry an annual fee and/or require a security deposit.