Team Clark is adamant that we will never write content influenced by or paid for by an advertiser. To support our work, we do make money from some links to companies and deals on our site. Learn more about our guarantee here.
A number of people have contacted Team Clark recently to ask about Pay with GasBuddy, the new payment option that promises to save drivers money every time they fill up.
On the radio show, Clark answered a question from Patsy who wanted to know if the new feature is legitimate. The short answer is “yes.”
This new program is able to provide discounts on gas because the Pay with GasBuddy card that you swipe at the pump is linked to your checking account.
Drivers get a discount of 15 cents per gallon on their first purchase — and at least 5 cents per gallon after that.
According to its website, Pay with GasBuddy can save drivers $340 a year when used with the GasBuddy app. Pay with GasBuddy is currently free, but a small annual fee may be added in the future.
How exactly is GasBuddy able to save you all that dough? It has to do with credit card processing charges.
Those fees are a major expense for gas station operators, so the station saves a lot of money if you pay with this card that’s linked to your checking account.
Instead, Clark suggests that you do exactly what the gas stations don’t want you to do!
If you can pay off your credit card balance monthly to avoid interest charges, you’re better off buying gas using a rewards credit card that offers 5% cash back on fuel.
“It’s not a rip-off, it’s just not the best deal,” Clark said about Pay with GasBuddy.
Although he isn’t recommending that everyone sign up for GasBuddy’s new payment option, Clark still loves apps like GasBuddy to find the lowest gas prices using your smartphone.
Thank you to Patsy for writing in with that question! Click here submit a question to Team Clark.
This post was last modified on April 13, 2019 5:28 pm
If you've been considering signing up for one of the Chase Sapphire credit cards, now…
The costs associated with owning a home go way beyond the amount on the mortgage. …
Inflation hits people on a fixed income the hardest. Say you're retired. You're living off…
Deciding to save and invest are great habits. But once you check that box, your…
If you're considering subscribing to Fubo, you need to be comfortable missing out on some…
Are you looking for a way to earn 2% back on every purchase you make…