BP Visa® Credit Card: Should You Apply?

BP Visa® Credit Card: Should You Apply?

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Citi is an advertising partner.

The BP Visa® Credit Card is a decent gas card with solid rewards on everyday purchases. That means it can be worthwhile carrying and using it for your day-to-day expenses. The card can give you a return between 2.25% and 3% on groceries, dining out and travel. Plus, anytime you use it at the pump in a BP station, you get between 3.75% and 5% back in rewards. Note that you will not earn any cash back when you use the card at non-BP stations. While high, these rewards may be outdone by other cash back credit cards. It all depends on your individual spending habits.

This card is good for...

  • People looking for a solid everyday credit card to pay for dining out, groceries, travel and gas
  • Anyone who buys their gas primarily from BP

This card is bad for...

  • Consumers looking for a good early spend bonus
  • Those who want rewards on a wider range of categories

Review: Our Thoughts on the BP Visa® Credit Card

The BP Visa® Credit Card provides cardholders with decent rewards on groceries, travel, dining out and gas purchased at BP stations. Rewards rates can reach 3% and 5% respectively, whenever you purchase up to 20 gallons of gas at a BP station. You can also use your points to get statement credit back, though this will cause your returns to drop slightly – 2.25% on travel/dining/groceries and 3.75% on gas at BP. Regardless of how you use your rewards, the BP Visa® Credit Card still provides very good value, even when compared against top cash back credit cards, like the Chase Freedom Flex℠.

The weakest part of the BP Visa® Credit Card is its bonus. The card effectively gives users the following 30-day introductory offer when you open a new account and download the BPme app. That’s 25¢ off per gallon every time you fuel up with your BP Visa® Credit Card or BP Credit Card at participating bp and Amoco stations. Most decent cash back credit cards give you a $100 bonus for spending $500 within a similar timeframe. You’d need to spend at least $2,000 with the BP Visa® Credit Card to match that reward. While the bonus this card gives you has unbounded potential, you would need to spend an extremely high amount of money to really make it worthwhile. This is something that might be impossible, depending on what your initial credit line is.

Bottom Line: No matter what form your rewards take – gas discounts at BP stations or statement credit – the BP Visa® Credit Card can give you decent saving. If you’re a frequent BP customer, this is a very good option for you. However, as always, you should keep your options open as another card has the potential to give you even greater savings.

BP Visa® Credit Card Benefits & Features

The BP Visa® Credit Card rewards its users in the form of discounts on gas purchased at BP gas stations. Get 10¢ off per gallon on fuel purchases at participating bp and Amoco stations. Earn 3% cash back on grocery store purchases. Earn 1% cash back on purchases made everywhere else Visa credit cards are accepted (excluding bp and Amoco fuel purchases).

Additionally, there are two bonus ways to earn rewards with the BP Visa® Credit Card. During the first 90 days your account is open, you earn $0.25 per gallon for every $100 you spend. That effectively translates to a 5% rewards rate on all purchases. You would need to spend roughly $2,000 during those first 90 days for this bonus to be comparable with an average cash back credit card bonus. At the same time, the other bonuses on other cards usually only require far less spending to reach the same rewards.

How Do the Rewards on the BP Visa® Credit Card Work?

The rewards on the BP Visa® Credit Card work as follows: you get some amount of money off each gallon of gas, for every $100 you spend. For example, you get $0.15 off per gallon for every $100 you spend for eligible groceries, dining and travel. That discount applies on up to 20 gallons. Therefore, if you spend that $100 on travel, the most you can get out of it (in terms of rewards) is $0.15 x 20 = $3.

The rewards can be either redeemed at the pump, or used as statement credit. However, using them for statement credit isn’t as profitable. Your total accumulated rewards are multiplied by 15, instead of the maximum of 20 at the pump. That means when used for statement credit your rewards rate can be 3.75%, 2.25% or 0.75% -- depending on where you shop.

How Does the BP Visa® Credit Card Compare Against Other Credit Cards?

We compared the BP Visa® Credit Card to a handful of other offers that can give you savings on gas, groceries and dining out.

BP Visa® Credit Card vs. Chase Freedom Flex℠

  • On Chase's Secure Website

The Chase Freedom Flex℠ is one of ValuePenguin’s favorite cashback credit cards. It can provide big rewards on a host of different categories, including gas, dining out and Amazon.com. The Chase Freedom Flex℠ offers the following rewards rate: Earn 5% cash back on eligible purchases in rotating categories, 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases.

There are good and bad things about the changing categories. On one hand, not being locked into a fixed rewards structure gives you more opportunities to earn cash back — this can be great for people who shop around at a lot of different places. On the flip side, this requires you to keep an eye on what the categories are, if you ever hope to optimize your cashback rates. Depending on your level of comfort with this ambiguity, the Chase Freedom Flex℠ may or may not be better than the BP Visa® Credit Card.

BP Visa® Credit Card vs Blue Cash Preferred® Card from American Express

The Blue Cash Preferred® Card from American Express is a great credit card for those who shop at supermarkets as well as gas stations and streaming services. The card earns users an unparalleled 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), 1% Cash Back on other purchases. Terms apply. Rewards can be easily redeemed for statement credits toward your purchases. The BP Visa® Credit Card is better than the Blue Cash Preferred® Card from American Express when it comes to rewards on dining out (2% vs 1%). One benefit is that you aren’t limited to one particular gas station, as you are with the BP Visa® Credit Card.

One downside to the Blue Cash Preferred® Card from American Express is its annual fee. The card has a $0 introductory annual fee for the first year, then $95 (See Rates & Fees). Therefore, you need to make sure you’re getting enough out of it to justify that price, especially since there are plenty of credit cards without an annual fee – including the BP Visa® Credit Card.

For rates and fees of the Blue Cash Preferred® Card from American Express, please click here.

BP Visa® Credit Card vs Costco Anywhere Visa® Card by Citi

  • On Citibank's Secure Website

The Costco Anywhere Visa® Card by Citi is one of the top gas credit cards, so long as you shop at Costco. The card gives users 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter, 3% on restaurants & travel, 2% at Costco & Costco.com, 1% on all other purchases. The Costco card allows users to receive their rewards as a certificate mailed to them once per year. To those who don’t mind waiting a year, this can be a lot more convenient than trading your rewards for gas discounts.

The Costco Anywhere Visa® Card by Citi is only open to individuals with a Costco membership.

The information related to the BP Visa® Credit Card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).