Gasoline Credit Cards: Their Pros and Cons

When it comes to prices, gasoline products are one of the most volatile commodities in the market. In a day, we may be able to experience oil price hikes not just once but it can happen as often than we can expect. That is how oil price can change, and indeed it can be infuriating.

Consumption of oil everywhere on the planet is still increasing amidst surging oil prices. This only shows the importance of gasoline in these modern times. With the increasing prices of not only gasoline but also of many commodities, most individuals are experiencing difficulties on their finans365. Thanks to gasoline cards, we may not be forced to pay in cash after every pump of gasoline.

Gas cards are not the prepaid cards you can get from gas stations. They are actually credit cards which you can use in a particular gas station chain only to differentiate it from a gas rewards credit card. A gas reward credit card is broader in applicability because you can use it in more gas station chains.

There are benefits and disadvantages of gas cards. Here are some of those.

The Pros

  • signatureGas even without cash – You need not worry if you do not have some money. You can even have a full tank so you don’t need to use public utility vehicles to reach your destination, which can be very inconvenient at times.
  • Eligible for discounts – You can still avail of promo sales and discounts of the gas station while using gas credit cards.
  • Tracks your gas expenses – Using a gas credit card will help you keep a record of your gas expenses more efficiently than when you pay on cash. This is helpful for individuals who are trying to budget their daily expenses.
  • Greater chance of approval – Applying for a gas credit card is convenient. You can expect your card in a much shorter time than what you expect because it is often easier to get approved than traditional credit cards
  • Billing date is negotiable – If you are an employee with a monthly salary, a gas card is suitable for you because you can adjust your billing time after payday.
  • Rebuilds your credit score – With a gas credit card, it is surely more convenient for you to pay your fuel credit because you can track down your expenses and you are billed after your payday. This will give you the chance to improve your credit score.

meterThe Cons

  • Applicability issue – Your credit gas card will not be accepted in other gas stations outside of the gas station chain where your gas card is applicable.
  • Fewer perks – You may be able to enjoy more perks when you buy on cash or when you use gas rewards credit cards.
  • Variable interest rates – Every gas credit card may apply different interest rates. It is your responsibility to look for the gas card that gives the lowest interest rate.
Read more

What to Do in Order to Stay Debt Free

When setting up a business, one of the things that the business owner fears most is their business failing to turn out as they had planned. It is every entrepreneur’s hope that the business they are starting will eventually grow and thrive. Unfortunately, this is not always the case. Whenever a business idea does not turn out as great as one would have expected it to, one is faced with several decisions that they need to make if they are to remain afloat. In most cases, most people make the wrong decisions here, which usually lead them into a debt hole that most are not able to get out of. Below are some of the ways that may help you avoid falling into the same category.

LOANS

Flexibility

As observed above, when changes occur, those that are able to adapt easily benefit most, those that do not change end up having to shut down operations. A good company is one that is able to adapt easily to these changes so that it remains profitable even in harsh financial times. Diversification is one of the best ways to ensure that a company is able to navigate through economic storms so that when one product fails, the above is able to bail out the company from its financial debt.

Pilot products

Pilot products are a good way to ensure that you do not lose your investment to a useless product. One of the gravest mistakes that most entrepreneurs commit is devoting all their hard-earned investments to untested ideas. When their ideas fail, all their investments go down the drain. It is therefore important to first have the idea tested before going into full-scale production.

 

Avoid deepening the hole

ZERO DEBTAnother mistake that entrepreneurs commit is borrowing some more to clear an existing debt. What this does is that it digs a deeper hole in regards to your debt. While it may solve an immediate debt, it will, in the long run, lead you to close down the business. Borrowing leads to an extra interest cost. Since the money injected will not be consumed by the business but by an existing debt, it adds no value to your business, but on the flipside, it has created an extra cost. The best way to get out of this is by shrinking your operational cost even if it means closing some outlets. By so doing, you will not incur the extra cost. Once the business is back into profitability, you might consider reopening those outlets.

Observe the environment

Change is inevitable in any type of environment that one could think of. There is no way that one can avoid change from taking place. When deciding the kind of plan you have in mind, it is important to ensure that you factor in the possibility of a change in the environment. What this means is, if, for instance, you are in the manufacturing industry, Factor in the changes that may occur that might lead to your product becoming obsolete. For example, an industry that deals in the manufacture of car batteries may become obsolete when electric cars are produced. Being able to study the environment helps you anticipate possible changes and thus get ready for them.…

Read more