Though the Exxon Mobil Smart Card+™* earns a decent get 12¢/gal in instant savings on every gallon of Synergy Supreme+™ premium gasoline or 10¢/gal on other grades of Synergy™ fuel, plus at the end of every month, get 5% back on in-store purchases and car washes as a statement credit on the first $1,200 in non-fuel purchases per year we’re not convinced that’s enough reason to put up with its lack of rewards flexibility or skimpy benefits.
Pros
- $0 annual fee
- Discounts and rebates on gas at Exxon and Mobil gas stations
- Excellent in-store reward earning
Cons
- High 27.99% variable APR
- Can only be used on gas and in-store at Exxon or Mobil stations
- Bonus rewards on non-gas purchases capped
Highlights
- Get 30¢/gal as a bonus statement credit on fuel for your first two months after account open date.
- Plus, get 12¢/gal in instant savings on every gallon of Synergy Supreme+™ premium gasoline or 10¢/gal* on other grades of Synergy™ fuel every time you fill up
- At the end of every month, get 5% back on in-store purchases and car washes as a statement credit on the first $1,200 in non-fuel purchases per year
Introduction
With the cost of gas today, we’d all better hope Exxon Mobil doesn’t have yet another oil spill—the stuff is becoming too valuable to waste. With the average cost of regular unleaded gas in the U.S. at $5.00 in June of 2022, the $0.10 or $0.12 discount the Exxon Mobil Smart Card+ offers on the company’s non-premium or premium Synergy+ fuel is just above 2%. While this savings may be in line with what many cards offering rewards on gas offer and would be higher for those where the company offers more affordable fuel, the best gas cards earn either unlimited and capped 3% to 4% cash back on gas and come loaded with other benefits, including the ability to be used at almost any gas station.
Many gas stations add a surcharge when you pay for gas with a credit card, so traditional gas cards may not always do much more than earn a portion of or slightly more than a surcharge costs you, but the fraud protections of a credit card may be worth the cost of using a credit card over many debit cards and the Exxon Mobil Smart Card+ is no different. Unfortunately, apart from the convenience benefits including $0 fraud liability, identity theft protection and online account management, the card runs dry when it comes to extra benefits.
The Exxon Mobil Smart Card+ reward earning and discounts do not combine with those of the company’s fuel rewards program, but rewards from the Exxon Mobil Rewards+ program may be redeemed while using the Exxon Mobil Smart Card+ as a payment method. Discounts on gas purchases made with the Exxon Mobil Smart Card+ can combine with rewards associated with grocery store gas reward redemptions for additional discount.
Compare Exxon Mobil Smart Card With Other Cards
At a Glance
- $0 annual fee
- Welcome Offer: get 30¢/gal as a bonus statement credit on fuel for the first first two months after account opening
- get 12¢/gal in instant savings on every gallon of Synergy Supreme+™ premium gasoline or 10¢/gal on other grades of Synergy™ fuel, plus at the end of every month, get 5% back on in-store purchases and car washes as a statement credit on the first $1,200 in non-fuel purchases per year
- Closed-loop card for in-store use only; Not accepted widely
- $0 Fraud liability and other convenience benefits
Exxon Mobil Smart Card+ Rewards
Earning Rewards
The Exxon Mobil Smart Card+ earns get 12¢/gal in instant savings on every gallon of Synergy Supreme+™ premium gasoline or 10¢/gal on other grades of Synergy™ fuel, plus at the end of every month, get 5% back on in-store purchases and car washes as a statement credit on the first $1,200 in non-fuel purchases per year. Rewards are only earned when the account remains in good standing. Rewards aren’t earned on some purchases, such as lottery tickets, gift cards or money orders.
The Exxon Mobil Smart Card+ includes a welcome bonus: get 30¢/gal as a bonus statement credit on fuel for the first first two months after account opening.
Redeeming Rewards
Discounts or rebates on gas at the pump earned with the Exxon Mobil Smart Card+ apply instantly and automatically, but cash back rewards earned redeem automatically as a statement credit at the end of every month. Rewards are not redeemed for closed or defaulted accounts.
Rewards Potential
Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages. The 70th percentile of wage-earning households bring in $107,908 annually. Of this, we estimate $32,072 can reasonably be spent on credit card purchases.
We estimate the average household will spend $2,850 on gas and for demonstration we’ll assume the same average household will spend about 10% of this or $285 at gas station convenience stores or on car washes.
If we use the an average cost of premium gas at $5.39 per gallon to receive the larger $0.12 discount per gallon of gas, we can estimate that the average family will be able to save approximately $63.48 on gas per year using the Exxon Mobil Smart Card+—the equivalent of an additional 12 gallons of gas. This, along with the $14.25 per year earned in rewards from convenience store and car wash purchases, would earn the average family about $77.73 annually in savings and rewards.
Other Exxon Mobil Smart Card+ Benefits
- $0 Fraud Liability: No cardholder responsibility for unauthorized transactions.
- Online Banking: Account monitoring available through an online portal.
Fine Print
Interest Rates
- Regular APR: 27.99% variable
- Purchase Intro APR Offer: N/A
- Balance Transfer Intro APR Offer: N/A
Fees
- Annual Fee: $0
- Balance Transfer Fees: N/A
- Cash Advance Fees: 5% of the amount of the cash advance, but not less than $10
- Foreign Transaction Fees: N/A
How the Exxon Mobil Smart Card+ Stacks Up
Exxon Mobil Smart Card+™* vs. Costco Anywhere Visa® Card by Citi*
Though the Costco Anywhere Visa Card by Citi charges no annual fee, to apply requires a Costco membership, which starts at $60. The card earns 4% cash back on eligible gas and EV charging purchases for the first $7,000 per year, then 1% thereafter, 3% cash back on restaurants and eligible travel purchases, 2% cash back on all other purchases from Costco and Costco.com and 1% cash back on all other purchases and may be used to transact anywhere Visa cards are accepted. This means you won’t be limited to gas stations for the superior reward earning.
We’ve determined our profile family spends about $2,850 on gas each year, so we’d estimate the $7,000 cap will be sufficient for many drivers. The reward potential with the Costco Anywhere Visa Card by Citi will likely be of significantly higher value to most gas guzzlers.
Exxon Mobil Smart Card+™* vs. Blue Cash Preferred® Card from American Express
The $0 intro annual fee for the first year, then $95-annual-fee Blue Cash Preferred® Card from American Express (see rates & fees) is among those cards on our best rewards cards for gas list and can be used anywhere Amex is accepted. The card earns 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more) and 1% cash back on other eligible purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit.
Depending on the price of gas near you, the Exxon Mobil Smart Card+ may earn you a better reward on gas, but at the moment it isn’t likely to. The Blue Cash Preferred Card also offers significant extra benefits, including secondary car rental loss and damage insurance* and a global assist hotline* for difficult situations over 100 miles from home. With cards like the Blue Cash Preferred, it’s easy to see why most will find a greater benefit in an open-loop, accepted-more-widely card over a closed-loop, in-store-only card such as the Exxon Mobil Smart Card+.
Exxon Mobil Smart Card+™* vs. Synchrony Car Care™ credit card*
Another auto-related store card is the Synchrony Car Care Credit Card, which instead of staying in its branded lane can actually be used at a variety of participating stores. Gas stations, service centers and auto parts stores are covered—according to Synchrony’s website, the no-annual-fee card is accepted by over 250,000 gas stations across the country.
Drawbacks to the card include its high, 29.99% variable standard APR, which can lead to dangerous trouble on the high-speed debt racetrack that is carrying a balance.
Is the Exxon Mobil Smart Card+ For You?
Gas up and drive away. With open-loop, use-them-almost-anywhere network credit cards providing better rewards on gas with more reasonable APRs and extensive extra benefits, we recommend choosing a different financial vehicle and avoiding the poor mileage this card gets.
To view rates and fees for the Blue Cash Preferred® Card from American Express please visit this page.
https://www.forbes.com/advisor/credit-cards/reviews/exxon-mobil-smart-card-review/
2022-10-14 13:00:43Z
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