With today's high gas prices, gas-rebate credit cards are becoming increasingly popular. Actually, gas credit cards are a great way to save energy and money at the fuel pump. For example, with usual gas credit cards you can get 3% to 5% cashback rewards on gas, depending on the bank that issues the card. The card may offer 6% rebate on all gas purchases, but only for the first 90 days that the account is open. After that, the gas rebate drops to 3%. The cash back savings are added up until the person obtains about $50 credits. At that point, you can request a check from your credit card company for a rebate.

There are some potential problems that any card holder may face:

- Not all gas stations qualify for a full rebate. Given the high cost of gasoline, filling up at a wholesale club may sound appealing. Don’t hurry up. Typically, to get the full rebate, which is generally 5%, there is a need to go to a standalone station – that is, a place whose primary function is selling gas.

- Interest rates on unpaid balances of gas-rebate cards can be more than 20%. Accruing debt and then paying interest to save a few dollars at the pump doesn't make any sense. If you carry a balance as 60% of all cardholders do carry it on a low-interest-rate card.

- Rebate may be held hostage. There are issuers who don't automatically put the money into the account or issue somebody a check. Instead, there is a need to request it. The rebate may disappear if the person doesn't act within six or 12 months.

- Issuers can change their terms and conditions with little notice.