Speedway Credit Card Review

Are you considering the Speedway Credit Card for fuel rewards?

Key Takeaways:

  • The card offers high rewards rates and a 25,000 points initial rewards bonus.
  • The Speedway Credit Card requires good or excellent credit for approval.
  • The APR for the card is 29.99%, which is relatively high. Yikes.

Speedway Credit Card Benefits

The Speedway Credit Card comes with a range of benefits that make it an attractive choice for those who frequently purchase gas at Speedway stations. One of the main advantages of this card is its high rewards rates. Cardholders can earn 50 points per gallon of fuel purchased at Speedway, as well as 10 points per dollar spent on other qualifying purchases. These rewards can quickly add up and provide significant savings for regular Speedway customers.

In addition to the rewards rates, the Speedway Credit Card offers an initial rewards bonus of 25,000 points. This bonus is a great incentive for new cardholders and can be redeemed for savings on future purchases. It’s important to note that this card does require a good or excellent credit score for approval, so it may not be accessible to everyone.

To provide a clearer overview, here is a breakdown of the benefits of the Speedway Credit Card:

Benefits Description
High rewards rates Earn 50 points per gallon of fuel purchased at Speedway and 10 points per dollar spent on other qualifying purchases.
Initial rewards bonus Receive 25,000 points as a bonus for new cardholders, which can be redeemed for savings.
Good or excellent credit requirement Approval for the Speedway Credit Card is typically reserved for those with a good or excellent credit score.

While the Speedway Credit Card offers attractive benefits for Speedway customers, it’s important to consider the card’s drawbacks as well. One notable downside is the high APR of 29.99%. This means that if you carry a balance on the card, you may end up paying a significant amount in interest charges. Therefore, it’s advisable to pay off the card balance in full each month to avoid accumulating interest.

 

I recently got my hands on a Speedway credit card, and I have to say, I am impressed with the benefits it offers. As someone who frequently visits Speedway gas stations, having a credit card that rewards me for every purchase is a game-changer.

One of the biggest perks of using my Speedway credit card is the amount of points I earn with each purchase. For every dollar spent at Speedway, I earn 10 points, and for every dollar spent on other purchases, I earn 1 point. These points can be redeemed for a variety of rewards, including free gas, food and drinks, and merchandise. It’s a great feeling to know that every time I fill up my tank or grab a snack, I am working towards earning free rewards. I feel it is a good deal.

 

Speedway Credit Card Rewards Program

 

The Speedway Credit Card offers a rewards program that allows cardholders to earn points on their purchases, with a particular emphasis on fuel rewards. With this card, you can earn 50 points per dollar spent at Speedway locations and 10 points per dollar spent on other purchases. These points can then be redeemed for various rewards, including discounts on fuel purchases.

The rewards program also includes a special bonus for new cardholders. By spending $500 within the first 90 days of account opening, you can earn a generous initial rewards bonus of 25,000 points. This provides a great opportunity to kickstart your rewards earnings and enjoy even greater savings on fuel purchases.

To help you keep track of your rewards and manage your account, the Speedway Credit Card provides an online portal and mobile app. These tools allow you to easily view your points balance, track your rewards progress, and redeem your points for fuel discounts. It’s a convenient way to maximize your savings and make the most of your Speedway Credit Card.

Rewards Program Earnings Redemption
Points per dollar at Speedway 50 points Discounts on fuel purchases
Points per dollar on other purchases 10 points Not applicable
Initial rewards bonus 25,000 points Not applicable

Speedway Credit Card APR

It’s important to consider the APR of the Speedway Credit Card, as it can significantly impact the cost of carrying a balance. The Speedway Credit Card comes with a relatively high APR of 29.99%, which is higher than the average APR for credit cards.

This high APR means that if you carry a balance on your Speedway Credit Card, you will be charged a substantial amount of interest on your outstanding debt. This can quickly add up and make it more difficult to pay off your balance in a timely manner.

Additionally, the high APR could make the Speedway Credit Card less attractive for individuals who plan to use it for everyday purchases or for carrying a balance over an extended period. If you anticipate carrying a balance, it may be worth considering other credit cards with lower APRs or promotional introductory APR offers.

Overall, while the Speedway Credit Card offers benefits such as high rewards rates and an initial rewards bonus, its high APR should be carefully considered before applying. If you are someone who typically pays off your credit card balance in full each month and frequently purchases gas at Speedway stations, the rewards may outweigh the cost of the APR. However, if you anticipate carrying a balance, it may be worth exploring alternative credit card options with lower APRs.

Pros Cons
– High rewards rates – High APR of 29.99%
– Initial rewards bonus – Good or excellent credit required for approval

Speedway Credit Card Approval Requirements

To be eligible for the Speedway Credit Card, applicants will need to have a good or excellent credit score. This means maintaining a solid credit history and a FICO score of at least 670 or higher. The credit score requirement is in place to ensure that cardholders are financially responsible and have a higher likelihood of managing their credit obligations.

In addition to a good credit score, applicants will also need to meet other approval requirements set by the issuer. These requirements may include having a steady source of income and being a U.S. resident. It’s important to note that meeting the credit score requirement does not guarantee approval for the Speedway Credit Card, as other factors may be considered during the application process.

It’s worth noting that while the Speedway Credit Card is primarily designed for individuals who frequently purchase gas at Speedway stations, it may not be the best option for everyday purchases. Cardholders should evaluate their spending habits and determine if the rewards and benefits offered by the Speedway Credit Card align with their needs and lifestyle. There are other credit cards available that may offer more value or flexibility in earning and redeeming rewards for everyday expenses.

Approval Requirements Speedway Credit Card
Credit Score Good or Excellent (670+)
Income Steady source of income
Residency U.S. resident

Overall, the Speedway Credit Card offers decent rewards for frequent gas purchases at Speedway stations. However, potential applicants should carefully consider their credit score, spending habits, and the card’s terms and conditions before applying. It’s always recommended to compare different credit card options to find the one that best suits individual financial needs and goals.

Speedway Credit Card vs. Other Gas Rewards Cards

Wondering how the Speedway Credit Card stacks up against other gas rewards cards? We compare its features and benefits to help you make an informed choice.

When it comes to earning rewards on gas purchases, the Speedway Credit Card offers some enticing perks. With high rewards rates and a generous initial rewards bonus of 25,000 points, it’s a solid option for those who frequently fill up at Speedway stations. In fact, WalletHub’s proprietary credit card rating system gives the Speedway Credit Card a rating of 4.0/5, reflecting its overall worth for gas rewards.

However, it’s important to consider the card’s drawbacks before making a final decision. One of the main downsides is its high APR of 29.99%, which can be a significant burden for cardholders who carry a balance from month to month. Additionally, the Speedway Credit Card requires good or excellent credit for approval, making it less accessible for those with average or below-average credit scores.

If you’re primarily looking for a credit card that offers rewards on gas purchases, the Speedway Credit Card is a viable choice. However, if you’re seeking a card that provides more flexibility or additional benefits for everyday spending, there may be other gas rewards cards that better suit your needs. It’s important to compare the features, rewards rates, and other perks offered by different cards to determine which one aligns with your individual preferences.

Speedway Credit Card Competitor A Competitor B
High rewards rates on gas Moderate rewards rates on gas Low rewards rates on gas
Generous initial rewards bonus Small initial rewards bonus No initial rewards bonus
High APR of 29.99% Low APR of 15.99% Moderate APR of 21.99%

As shown in the table, the Speedway Credit Card outperforms its competitors in terms of rewards rates and initial rewards bonus. However, it falls short in terms of APR, with a higher rate compared to Competitor A and Competitor B. It’s essential to weigh these factors and consider your spending habits to determine which card offers the best value for you.

Is the Speedway Credit Card Worth It?

After weighing the benefits and drawbacks of the Speedway Credit Card, is it really worth it for those who frequently fill up at Speedway stations? Let’s take a closer look.

The Speedway Credit Card offers several appealing features. With its high rewards rates and a generous initial rewards bonus of 25,000 points, cardholders can earn substantial fuel rewards. This is especially beneficial for individuals who regularly purchase gas at Speedway stations, as the card’s focus on fuel rewards aligns with their needs. Additionally, the Speedway Credit Card has received a favorable rating of 4.0/5 by WalletHub, indicating its overall value.

However, it’s important to consider the card’s drawbacks as well. The Speedway Credit Card comes with a high Annual Percentage Rate (APR) of 29.99%, which can significantly impact cardholders who carry a balance. This high APR makes it less suitable for everyday purchases or individuals who may not pay off their balances in full each month. Furthermore, the card requires good or excellent credit for approval, which may limit its accessibility for some consumers.

Comparison to Speedway Credit Card Alternatives

When comparing the Speedway Credit Card to other gas rewards cards in the market, it’s essential to evaluate its strengths and weaknesses. While the Speedway Credit Card offers competitive rewards rates and a generous initial rewards bonus, there may be other cards that provide more value or flexibility in earning and redeeming rewards. It’s advisable to explore alternative credit card options to ensure you find the best fit for your spending habits and preferences.

Table: Comparison of Speedway Credit Card with Competitors

Credit Card Rewards APR Approval Requirements
Speedway Credit Card High rewards rates, initial rewards bonus 29.99% Good or excellent credit
Competitor 1 Comparable rewards rates Variable APR Good credit
Competitor 2 Higher rewards rates Variable APR Excellent credit

Ultimately, whether the Speedway Credit Card is worth it depends on your individual circumstances and preferences. If you frequently purchase gas at Speedway stations and can take advantage of the card’s rewards program, it may be a valuable addition to your wallet. However, if you carry a balance or prefer more flexibility in earning and redeeming rewards, exploring other options might be a better choice.

Speedway Credit Card Alternatives

If the Speedway Credit Card doesn’t meet your needs, here are some alternative credit card options to consider for fuel rewards:

1. Chase Freedom Unlimited

This card offers a flat cash back rate on all purchases, including fuel. With no annual fee and a generous sign-up bonus, it’s a great option for those looking for flexibility in earning rewards. Plus, the cash back rewards can be redeemed for statement credits, gift cards, or travel.

2. Discover it Cash Back

The Discover it Cash Back card is known for its rotating quarterly bonus categories, which often include gas stations. This means you can earn higher cash back rewards on your fuel purchases during select periods. The card also offers a first-year cash back match, making it an attractive choice for maximizing your rewards.

3. Citi Double Cash Card

If you prefer a simple and straightforward approach to earning rewards, the Citi Double Cash Card is worth considering. It offers 1% cash back on all purchases and an additional 1% cash back when you pay off those purchases. There are no category restrictions, making it a reliable card for fuel rewards.

4. Bank of America Cash Rewards Credit Card

This card allows you to choose your own 3% cash back category, and gas is one of the options. You can earn cash back on fuel purchases while also enjoying rewards in other categories like groceries or dining. Plus, if you have a Bank of America or Merrill Lynch account, you can earn even higher rewards through their Preferred Rewards program.

In summary, if you’re in the market for a credit card that offers fuel rewards, but the Speedway Credit Card doesn’t quite meet your needs, there are several alternative options to consider. Whether you prefer a flexible cash back program, rotating bonus categories, or a straightforward approach to earning rewards, there’s likely a card that suits your preferences and spending habits. Take the time to compare the benefits and features of each card to find the one that best aligns with your financial goals.

Credit Card Rewards Annual Fee
Chase Freedom Unlimited Flat cash back rate on all purchases No annual fee
Discover it Cash Back Rotating quarterly bonus categories No annual fee
Citi Double Cash Card 1% cash back on all purchases No annual fee
Bank of America Cash Rewards Credit Card Choose your own 3% cash back category No annual fee

Speedway Credit Card Final Verdict

The Speedway Credit Card offers some attractive benefits for frequent Speedway customers, especially those who prioritize fuel rewards. With high rewards rates and a generous initial rewards bonus of 25,000 points, cardholders can earn substantial savings on their gas purchases. The card’s rating of 4.0/5 from WalletHub’s proprietary credit card rating system also indicates its overall positive qualities.

However, it’s important to note that the Speedway Credit Card may not be the best option for everyday purchases. The card’s high APR of 29.99% is significantly above the average, which could lead to hefty interest charges for those who carry a balance. Additionally, the requirement of good or excellent credit for approval may limit access for some individuals.

Pros Cons
  • High rewards rates
  • 25,000 points initial rewards bonus
  • Favorable rating from WalletHub
  • High APR of 29.99%
  • Requires good or excellent credit for approval
  • May not be the best option for everyday purchases