Major Retailer Offers Cash Back On Prepaid Card Gas Purchases
By Steven Gibbs
June 3, 2010
As summer quickly approaches so too are the months that millions of people will start to hit the road. As was the same for prior years, one of the major concerns for Americans traveling during these months is gas prices. Traditionally during this time we have seen gas prices skyrocketing nationwide forcing some to rethink just how much traveling they will doing. One thing we have seen over the years are many incentives such as discounts and cash back given by credit card issuers for making fuel purchases with their card. Now it seems that this has been adopted by one of the largest retailers in the country, and instead of saving with credit card purchases it is with a prepaid card.
Earlier this month, it was reported by Wal-Mart that they would begin offering cash back for consumers using their branded re-loadable prepaid card. The major difference that will set them apart from their competitors is that at the moment they are the only one giving cash back solely on fuel purchases. On these purchases cardholders can look to receive 1% of the total sale when swiping their card at the pump nationwide until December 31, 2010.
Although it is quite new to receive cash back on fuel purchases; getting cash back, rewards, and discounts on prepaid cards is nothing new. There are many prepaid cards such as the Upside Prepaid Card that do exactly that. In addition to those, many debit card coupled with checking accounts allow you to receive incentives as well for shopping with you plastic through their online portal. While in several cases you may not receive the same amount of cash back as you would by using your credit card, to some consumers that is something they are willing to exchange for not having to borrow money to pay for products.