The BP Visa Credit Card offers plenty of rewards for everyday purchases. Therefore, it is worth considering this card for covering your daily expenses. This card offers a return ranging from 2.25% to 3% on dining, travel, and groceries.
If you use the card to make purchases at BP stations, you will enjoy a very decent cash-back reward that ranges from 3.75% to 5%. It is important to note that you won’t receive any cash back from using this card at other stations besides BP.
The rewards offered by this card are quite good. The rewards will, of course, vary according to your individual spending habits.
Cardholders can enjoy fairly decent rewards on dining out, travel, groceries and purchasing gasoline at BP stations. For purchasing gas at a BP station (up to 20 gallons), you can enjoy reward rates that range between 3% and 5%.
You may also make use of your points for statement credit. This approach, however, will produce a slight drop in your returns. The rate for groceries, dining, and traveling will go down to 2.25 percent and the rate for purchasing gas at BP stations will also drop to 3.75 percent. If you spend wisely, you can make good use of your rewards. The BP Visa Credit Card will offer good rewards that are very much comparable to other leading credit cards.
You can make good savings with the BP Visa Credit Card regardless of the forms of credit that you prefer – statement credit or discounts on gas at BP stations.
Benefits of the BP Visa Credit Card
Here are the details on the benefits that you can enjoy with the BP Visa Credit Card:
- In the introductory offer, you can get 25 cents off on every gallon for every $100 spent via your BP Visa Credit Card within the initial 90 days of your account opening. This reward does not apply to non-BP gas stations.
- 25 cents off on every gallon on each $100 spent at BP.
- 15 cents off per gallon on every $100 spent on eligible travel, groceries, and dining.
- 5 cents off per gallon on each $100 spent wherever Visa credit cards are accepted. This does not apply to non-BP gas stations.
- There is no annual fee.
Also, you may earn rewards on the BP Visa Credit Card in two bonus ways. In the initial 90 days following the opening of your account, you can earn 25 cents on each $100 spent. In effect, this is a 5% reward rate for all purchases.
Understanding How the Rewards System Works with the BP Visa Credit Card
Let’s take a simple example to find out rewards on typical purchases. The basic idea that you must keep in mind is that you will get a certain amount of money off on every gallon of gasoline for each $100 spent. You will receive 15 cents off on every gallon of gas for each $100 spent on eligible dining, groceries, and travel. This discount is applicable only up to 20 gallons. So, if you spend $100 on eligible travel, the maximum amount of reward that you are entitled to will be $0.15 x 20 = $3.
You can redeem your rewards in two basic forms: you can use them as a statement of credit or redeem them at the BP gas station. Keep in mind that using the rewards to get statement credit will reduce your benefits. Instead of a maximum 20 factor, your accumulated rewards will be multiplied with 15. So depending on where you choose to spend, your reward rates will turn out to be 3.75%, 2.25% or 0.75% when rewards are applied towards statement credit.
Is the BP Visa Credit Card Better Than Other Credit Cards?
Here, the BP Visa Credit Card will be compared with some of the other leading cards that also offer benefits and rewards for purchases on gas, dining, and groceries.
This is a leading credit card that offers plenty of rewards on a number of different categories including online shopping on Amazon.com, gas, and dining out. The Chase Freedom Credit Card will yield a cash-back reward of 5% on purchases in eligible bonus categories every quarter. The downside is that the reward rate will drop to just 1 percent once your purchases cross a limit of $1,500. There are also pros and cons to varying categories. The advantage is that such an approach can be helpful if you like to shop around at several different places. Not being bound with a fixed rewards system will offer more opportunities for earning cash back. But you will also have to look out for the categories to maximize your rewards.
See our full review of the Chase Freedom card.
Depending on your purchase habits, this may or may not be a better card for you.
Blue Cash Preferred Card from American Express
This card offers big cash back at a rate of 6% on purchases from US supermarkets (up to $6,000 annual limit on purchases) and 3% cash back on eligible department stores and gas stations. The flipside to this card is the annual fee of $95. You do not have to pay any annual fees with the BP Visa Credit Card.
See our full review of the Blue Cash Preferred card.Learn more about how to apply >>
Further Benefits on the BP Visa Credit Card
You can expect the following benefits from the BP Visa Credit Card:
You can redeem your reward in two ways as described above. This added versatility will provide great convenience depending on your preferences.
No Liability for Fraud
The BP credit card will offer a number of safeguards that provide greater protection compared to cash transactions. There is always the risk of getting cheated by malicious people so you need some kind of protection. This comes in the form of the $0 fraud liability. So the cardholder is not liable for fraudulent charges made through their credit cards.
Introductory Offer and No Annual Fees
The introductory offer on the initial 90 days has been discussed above. No annual fee means that your precious rewards are not consumed by the often high annual fees that come with other cards. Cardholders will not have to worry about spending more with their BP Visa Credit Card in order to minimize the effect of the annual fee.
By using credit cards in a responsible manner you can build up a good credit score. With this, you become eligible for a wide range of financial services that are necessary at some point in your life. Individuals who have poor credit score can also make improvements by making responsible use of credit cards.
Applying for a BP Visa Credit Card
You can apply for the BP Visa Credit Card by picking up an application form at the local BP gas station. If you want to apply online, then go to www.mybpstation.com/cards.
The good part about the online application process is that you can expect to get a quick response. Applying through the mail will obviously take a little extra time for processing your form. Once you have been approved, you will get your BP credit within 7-10 business days.
Our Last Thoughts on the BP Credit Card
The BP Visa Credit Card is a good card for you if you buy your gas from BP stations.
The 3 Best Alternative Credit Cards to Consider
Maybe you can do better than this credit card. If you have good credit, you should consider a few other options that will give you better benefits. The credit cards below are a few of our favorites, especially if you’re interested in traveling more. A few of these cards have signup bonuses that are big enough to redeem for multiple round trip flights. My wife and I used our Chase Sapphire Preferred signup bonus to book round trip flights for the both of us to Hawaii! It was well worth researching and getting the best credit card.
|Cash Back Alternative||Cash Back Alternative||Travel Rewards Alternative|
|Chase Freedom||Chase Freedom Unlimited||Sapphire Preferred
|Signup Bonus||$150 (15,000 pts)||Earn 3X on all purchases in the first year (up to $20,000 in purchases)||60,000|
|Bonus Spending Categories||5X on select rotating quarterly categories||1.5X on all purchases (after year 1)||2X on travel and dining|
|Extra Perks||Baggage insurance, trip insurance, rental car insurance|
|Best for People Who...||Want no annual fee|
Also have a Sapphire card
Want to earn bonus points on spend
|Want no annual fee|
Also have a Sapphire card
Want simple 1.5 bonus
points on every purchase you make
|Want a large introductory bonus
Like to Travel
|Learn More >>||Learn More >>||Learn More >>|
Decision Time: Which Credit Card is Really the Best for You?
Here at Travel Freedom, we like to travel, which is why we always prefer travel credit cards for ourselves. You might be the same as us or maybe you’d rather use your points as cashback. Either way, all of these cards earn Ultimate Rewards that can be used for either travel or as cash back.
We think that any four of these cards are a better option than the above-reviewed credit card. They earn points that are both valuable and very versatile. You can redeem them for an assortment of things including our favorite, TRAVEL!