Best Credit Cards for EV Charging in 2023

Team Clark spent hours reviewing the market for credit cards that reward EV charging and evaluated them according to the guidelines for usage set by money expert Clark Howard.

In addition to EV charging rewards, when assembling this list, we considered factors like annual fees, welcome offers, introductory annual percentage rates (APRs) and bonus categories.

This article was written in September 2023. Detailed notes on all updates will be provided.

Best Credit Cards for EV Charging Right Now

Learn More → PenFed Platinum Rewards Visa Signature® Card EV Charging Rewards: 5x points at charging stations Annual Fee: $0.00

card_name → Bank of America® Customized Cash Rewards credit card EV Charging Rewards: Preferred Rewards members can earn up to 5.25% back at charging stations Annual Fee: $0.00

Learn More → Sam’s Club® Mastercard® EV Charging Rewards: 5% back at charging stations on up to $6,000 annually (the cashback then goes down to 1% thereafter) Annual Fee: $0.00

Learn More → U.S. Bank Cash+® Visa Signature® Card EV Charging Rewards: Up to 5% back on utilities for at-home charging Annual Fee: $0.00

card_name → Costco Anywhere Visa® Card by Citi EV Charging Rewards: 4% back at charging stations on up to $7,000 annually (the cashback then goes down to 1% thereafter) Annual Fee: $0 (See Rates & Fees)

Learn More → Wells Fargo Autograph℠ Card EV Charging Rewards: 3x points at charging stations Annual Fee: $0.00

Are you looking to get the best credit card rewards possible for your electric vehicle charging?

The options are better now than ever before thanks to an increase in electric vehicle usage in the United States.

Clark, who is an electric vehicle driver himself, says that economists recognize the sale of electric vehicles has reached a point where this type of perk will become more popular as businesses try to reach a growing market segment.

“We’ve reached the tipping point with electric vehicles in the United States,” Clark says. “So you’re going to see more and more benefits available to electric vehicle owners that were historically just for gas engine owners, and this is just another example.”

Clark has the Sam’s Club® Mastercard® and Costco Anywhere Visa® Card by Citi in his wallet.

And though he has them for in-store use as an avid wholesale club shopper, both cards are on our list for EV charging rewards thanks to a generous cash back offering on that type of spending as well.

More on EV Charging Credit Card Rewards:

• Best Credit Cards for EV Charging Rewards
• A Warning Regarding EV Charging Credit Card Rewards
• Clark Howard’s General Strategy for Credit Cards
• Methodology

PenFed Platinum Rewards Visa Signature® Card

Learn More → This Is the Card for You If: You are looking for 5% back on spending for gas or EV charging and don’t mind signing up for credit union membership. Annual Fee: $0.00 Bonus Offer: 15,000 Bonus Points when you spend $1,500 in first 90 days. Rewards Program Details: 5x Points: on gas paid at the pump and EV charging stations 3x Points: at the supermarket (including most Target and Walmart locations), restaurants, and TV, radio, cable, streaming services 1x Points: on all other purchases

EV Charging Rewards Details: Earn 5x points on EV charging purchases.

Why We Chose It

This card offers 5x points on EV charging with no annual fee and offers some additional rewards bonuses on popular spending categories. No wholesale club membership or specialized bank rewards program required.

PenFed is a credit union, so you’ll have to join first before you can apply for the credit card. And though PenFed has roots as a government employee credit union, it now says that most people can qualify for membership.

Bank of America® Customized Cash Rewards Credit Card

card_name This Is the Card for You If: You are in the Bank of America ecosystem and qualify for enhanced multipliers on the cash back rewards. Annual Fee: $0.00 Bonus Offer: $200 online cash rewards bonus offer Bonus Offer Disclaimer: after making at least $1,000 in purchases in the first 90 days of your account opening Rewards Program Details: 3% cash back in the category of your choice: gas and EV charging stations; online shopping, including cable, internet, phone plans and streaming; dining; travel; drug stores and pharmacies; or home improvement and furnishings Learn more about cash back categories 2% cash back: at grocery stores and wholesale clubs 1% cash back: on all other purchases You’ll earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1%. Bank of America Preferred Rewards members can earn additional rewards based on their membership tier.

EV Charging Rewards Details: Those who choose to make gas and EV charging their 3% category will earn at least that much with this card. Preferred Rewards members can boost their cash back earning to as much as 5.25% based on qualifying factors.

Why We Chose It

If you’re willing to make gas and EV charging stations your choice for the 3% cash back category on this card, you can set up a solid reward for both electric and gas-powered vehicles in your household.

And if you’re already a Bank of America customer, you may be able to earn up to 5.25% back on EV charging based on your Preferred Rewards membership tier.

Sam’s Club® Mastercard®

Learn More → This Is the Card for You If: You are a Sam’s Club customer who regularly renews your membership and shops here frequently. Annual Fee: $0.00 Bonus Offer: Get a $30 statement credit when you open a new account and make $30 in Sam’s Club purchases within 30 days. Rewards Program Details: 5% back in Sam’s Cash on gas anywhere Mastercard is accepted (on first $6,000 per year, then 1%) 3% back in Sam’s Cash on Sam’s Club purchases for Plus members. (Club members earn 1% cash back) 3% back in Sam’s Cash on dining and takeout 1% back in Sam’s Cash on other purchases

EV Charging Rewards Details: 5% back in Sam’s Cash for the first $6,000 in combined spending on gas and/or EV charging each year.

Why We Chose It

This card has long been known for its gas rewards benefits, and now it includes EV charging.

For regular Sam’s Club customers, 5% back in Sam’s Cash is likely just as effective as 5% cash back.

U.S. Bank Cash+® Visa Signature® Card

Learn More → This Is the Card for You If: You can effectively leverage high-spend categories in your life into 5% back categories with this card. Annual Fee: $0.00 Bonus Offer: 5% cash back plus a $200 bonus Bonus Offer Disclaimer: After you apply online and spend $1,000 in eligible purchases within the first 120 days of account opening. Rewards Program Details: You earn 5% cash back on your first $2,000 in eligible net purchases each quarter on the combined two categories you choose. You earn 2% cash back on your choice of one everyday category, and 1% cash back on all other eligible net purchases.

EV Charging Rewards Details: Home utilities (including electricity bills) are one of the eligible 5% cash back categories for this card. Paying for that bill with this card could net 5% back on at-home charging.

Why We Chose It

If you’re the type of person who primarily charges their electric vehicle at home, this could be the card for you.

It is one of the few credit cards that will allow utilities, including your electric bill, to earn rewards. If you set utilities as one of your 5% earning categories, you may be able to make the most out of your at-home charging.

Costco Anywhere Visa® Card by Citi

card_name This Is the Card for You If: You are a Costco member who regularly shops at the warehouse and purchases gas at the fuel center. Annual Fee: $0 (See Rates & Fees) Rewards Program Details: 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year and then 1% thereafter; 3% cash back on restaurants and eligible travel purchases; 2% cash back on all other purchases from Costco and Costco.com; 1% cash back on all other purchases

EV Charging Rewards Details: 4% back on eligible EV charging purchases for up to the first $7,000 in spending each year. After that, you’ll earn 1% back.

Why We Chose It

If you’re a frequent Costco shopper like Clark, this card may fit right into your wallet for multiple reasons.

Costco members can enjoy the 4% back on EV charging while also getting 3% back on travel and in restaurants, as well as 2% back on all other Costco purchases.

Wells Fargo Autograph^SM Card

Learn More → This Is the Card for You If: You want a no-annual-fee card with auto rental and cell phone coverage, as well bonus rewards on popular spending categories. Annual Fee: $0.00 Bonus Offer: Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months. Bonus Offer Disclaimer: when you spend $1,000 in purchases in the first 3 months. Rewards Program Details: Earn unlimited 3X points on the following: Restaurants: dining in, take-out, catering, delivery and more Travel: airfare, hotels, car rentals, cruises and more Gas: gas stations and electric vehicle charging stations Transit: subways, ride shares, parking, tolls and more Popular Streaming Services Phone Plans: cell phone and landline providers Plus, earn 1X points on other purchases.

EV Charging Rewards Details: Get an unlimited 3x points multiplier on your EV charging station purchases.

Why We Chose It

This card doesn’t have the best rate of return on your EV charging purchases, but it does bring some other things to the table.

It offers 3x points on EV charging, as well as restaurants, travel, streaming services, cell phone service and more. It also has cell phone protection and auto rental waiver insurance.

A Warning Regarding EV Charging Credit Card Rewards

When deciding on a credit card that rewards your EV charging habits, make sure to take some time to read the fine print on the rewards program.

You may find that there are limitations to the charging locations that qualify for bonus rewards.

For example, the Sam’s Club® Mastercard® offers this definition for EV charging rewards:

“‘EV Charging Stations’ are generally merchants identified by their MCC as ‘Electric Vehicle Charging.’ EV Charging Stations do not include merchants of Parking Lots, Parking Meters and Parking Garages.”

One of the most common roadblocks to claiming these rewards is the Merchant Category Code (MCC) for the facility at which you make your EV charging purchase. These usually are set by the merchant and not the credit card issuer.

If the MCC of your charging station doesn’t align with the MCC the card issuer has designated for enhanced rewards, you may default to a lower tier of rewards for the purchase.

This is similar to the issues many consumers incur while trying to earn enhanced rewards on groceries.

And, like many other rewards credit cards that highlight specific areas of spending, you may find that there’s a limit to the rewards you can accrue on EV charging.

For example, the Costco Anywhere Visa® Card by Citi caps its gas and EV charging 4% back reward at the first $7,000 in spending each year. Once you’ve hit that limit, you’ll earn only 1% back on those purchases for the rest of the year.

Clark Howard’s General Strategy for Credit Cards

Clark believes it’s important to have a credit card to build and maintain a solid credit history. That’s to prepare you for big life events, like a home purchase or a job application, which can require credit checks.

He also believes that, before you start focusing on credit card rewards, you need to be paying off your balance each month.

If you carry a balance, Clark would point you to a credit card with the lowest possible fixed interest rate or advise you to avoid credit cards altogether.

Assuming you’re here because you’re looking to get the maximum benefits from your credit cards, Clark wants you to think about how you spend your money and how that might best be complemented by a card rewards program.

“Really think through your charge patterns and whether or not those rewards really give you a bang for your buck.”

Clark carries the Costco Anywhere Visa card in his wallet because he’s a frequent Costco shopper. He also likes the Citi Double Cash card because its unlimited 2% cash back program is so simple.

Methodology for EV Charging Credit Card Analysis

For the purposes of determining which EV charging rewards cards are “best,” we got input from Clark and sought to find cards that fit his credit card strategy best.

Clark believes credit cards with high annual fees are a bad idea for most consumers. So for the purposes of these rankings, we paid special attention to the annual fees.

Team Clark spent many hours reviewing the EV charging rewards credit cards on the market, assessing them for several factors including:

• Annual fees (Clark generally recommends avoiding them)
• EV charging rewards programs
• Welcome offers
• Length of introductory APR periods
• Balance transfer introductory periods
• Additional fees (transaction or otherwise)
• Perks offered to cardholders

We did not factor in non-introductory APRs as a part of the evaluation, because interest rates will vary based on your financial circumstances. If you’re able to follow Clark’s advice to pay off your balance every month, the regular interest rate shouldn’t matter to you anyway.

We also did not include offerings from local or regional banks or credit unions because those cards aren’t available to everyone. Often, local institutions will have desirable cards, so we recommend that you compare your local bank or credit union’s travel rewards credit cards to the ones that have made this list.