Survey: Gas station credit cards not good deals - KWWL - Eastern Iowa Breaking News, Weather, Closings

Survey: Gas station credit cards not good deals

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(NBC) -

That credit card in your wallet that you use to save money on gas could be hurting you when you're not using it.

According to a new survey by CreditCards.com, gas station-branded credit cards are not a good deal for most consumers. 

In its survey of 20 credit cards tied to a specific gas brand, it found the average interest rate is 24 percent. 

That's far above the average 15 percent for general-purpose credit cards.

The survey also found the rewards on gas cards are minimal, with the typical gas card offering a 10-cent-per-gallon discount. 

That's a decent return of 4 percent based on current prices. But when gas prices go up, the savings go down. 

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