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First National Bank of Omaha and Visa have partnered with BP to launch a new fuel credit card: the BPme Rewards Signature Visa? card. The new credit card introduces a modern take on the traditional fuel card, improving customer benefits by combining the power of BPme Rewards with traditional credit card advantages, such as cash back rewards.

The BPme Rewards Signature Visa is an enhanced credit card offer with a helpful discount on gas from BP and Amoco gas stations. Members of the BPme Rewards loyalty program can add on existing discounts to save even more money. The new credit card can be used anywhere Visa is accepted. 

There is no annual fee, and there's also no limit to the rewards you can accrue. As families are feeling the pinch in their pocketbooks with heightened gas prices, inflation, and escalating interest rates, this new combination of fuel card plus rewards program can help offset the pain at the pump many drivers are experiencing.

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BPme Rewards is a loyalty program administered through the similarly-named app that provides modest discounts on gas at any BP or Amoco gas station to registered users. Reward members receive five cents off per gallon for the first month. Afterward, users retain the five-cent-per-gallon savings with$100 fuel receipts each month. The app also guarantees a price match feature that compares nearby gas stations, so you'll pay the lowest price per gallon. This subscription feature is available to BPme Rewards users for 99 cents per month.

"We put our customers at the heart of everything we do; this new BPme Rewards Visa gives the best rewards to our most loyal customers," Lisa Blalock, vice president of marketing for BP, said in a press release. "We have enhanced the rewards, provided more choice in the way our customers can redeem, and made it simple to save money on all fuel and convenience store purchases at BP and Amoco."  

The new card offers rewards including:

• Special introductory offer: 30 cents off every gallon on BP and Amoco fuel purchases in the first 60 days after account opening

• 15 cents off every gallon automatically on BP and Amoco fuel purchases beyond the introductory period

• 5% cash back on non-fuel purchases at BP and Amoco stores (including convenience store and car wash purchases)

• 3% cash back on grocery purchases
  

• 3% cash back on dining purchases (including restaurants, take-out, and food delivery services)

• 1% cash back on all other qualifying purchases

While the bonus gas discounts only apply to BP or Amoco gas stations, the other rewards apply to purchases at any qualifying retailer. Card users receive the best discount when they combine the BPme Rewards Signature Visa with the BPme Rewards program. During the introductory period, drivers can snag a discount of up to 35 cents per gallon at BP and Amoco gas stations. 

The card offers a number of redemption options: cash back, account statement credits, gift cards, or travel experiences.

Pros

• Healthy introductory offer for discounts at BP or Amoco gas stations
• No annual fee
• Combined discounts with the BPme Rewards program apply
• Unlimited rewards
• Multiple reward redemption options

Cons

• High APR
• Foreign transaction fee
• Gas discounts restricted to limited retailers

How do I apply?

Navigate to the BPme rewards Visa launch site and complete the secure application by clicking "Apply." You can get an answer within 30 seconds. 

Register for the BPme Rewards program through the app in the App Store or Google Play Store to include additional fuel benefits each time you fill up at BP or Amoco gas stations.

Are there alternative credit cards with gas rewards to consider?

The BPme Rewards Signature Visa offers solid rewards, but they are tied to a specific retailer for the best options. If you'd like more flexibility with your gas shopping options, consider the following alternatives:

• US Bank Altitude Connect:  Another Visa Signature card with useful protections, this credit card has a high annual fee after the first year that can be offset with generous rewards (earn 4x points per dollar on gas purchases). The card also offers credits for Global Entry/TSA precheck and cashback on streaming services.

• Wells Fargo Active Cash: This is a simple card offer with no annual fee. Earn 2% cash back with this card for every purchase, including gas and travel. It's also issued as a Visa Signature, so it comes with a few useful protections.

• The Blue Cash Preferred: This card offers one of the highest cash back rates at US supermarkets and for select US streaming services. It also provides a decent rate at US gas stations. It does have an annual fee, but the rewards will quickly cover it.

• Bank of America Customized Cash Rewards Card: This is the best option for consumers who don't spend more than$2,500 on gas and other purchases each quarter. You can choose one 3% cash back spend category to earn in. You can also earn 2% and 1% static reward categories. The 3% and 2% rewards are limited to$2,500 spent each quarter before rewards fall to 1%.

What makes this card a good choice?

Consumers looking for options to save on fuel expenses can add this card and the loyalty program to their financial toolkit. With no annual fee, this card won't cost you more to access the benefits as long as you keep the credit card balances low -- the high APR will cut into any fuel savings or cashback rewards earned. Those who can manage their spending and pay off balances monthly can reap the rewards of fuel savings.

Additionally, the unlimited rewards make this card a good choice for everyday spending. The 3% cashback on groceries and food deliveries are a welcomed relief for tight budgets. The redemption options give consumers flexibility in how best to tap into rewards for their benefit. 

The biggest draw is the additional savings available on gas when combined with the BPme Rewards program through the app. The savings are most impactful when filling up at a BP or Amoco station. Taking advantage of this reward makes perfect sense for existing BP and Amoco customers or those in close proximity to these gas stations.

Will my points expire?

Points will expire on the fifth anniversary of when they are earned and are used in a first in, first out basis. Points can also be forfeited if the account is closed before all points are redeemed.

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