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ExxonMobil Smart Card Review

ExxonMobil Smart Card Review

*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.

This article was last updated Mar 26, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

If Exxon gas stations or Mobil are your go-to options for filling your tank, you might be considering the ExxonMobil™ Smart Card. In addition to offering a discount on every gallon, the card also offers some additional benefits that can save you money.

We break down what the card offers to help you determine if it’s a good fit for your spending needs.

ExxonMobil™ Smart Card pros

Discount at the gas pump. Get 6 cents off every gallon, every day at more than 11,000 Exxon™ and Mobil™ stations.

Sign-up bonus. Get 12 cents off every gallon of Synergy™ fuel for the first 2 months after account open date.

Can be used for more than just gas. You can use this card not just for gas, but also for convenience store purchases and car washes.

No annual fee. The annual fee is $0.

ExxonMobil™ Smart Card cons

High APR. This card’s APR is 27.49% variable. If you carry a balance, your interest charges will be expensive. If you do decide to apply for this card, make sure to pay off the balance in full every month.

Can’t be used outside of Exxon and Mobil gas stations. This is a store-branded card. Know that there are other general-use credit cards offering high rewards rates on gas that can be used elsewhere.

Compare it with the Bank of America® Cash Rewards credit card

If you want a card with an excellent cashback rate on gas that can also be used outside of gas stations, the Bank of America® Cash Rewards credit card is a strong choice. Here’s how it compares:

 ExxonMobil™ Smart CardBank of America® Cash Rewards credit card
RewardsGet 6 cents off every gallon, every day at more than 11,000 Exxon™ and Mobil™ stations.3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases, 1% cash back on every purchase.
Sign-up bonusGet 12 cents off every gallon of Synergy™ fuel for the first 2 months after account open date.$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
Annual fee$0$0
Regular purchase APR27.49% variable15.49% - 25.49% Variable APR on purchases

You can choose what you want to earn 3% on with the Bank of America® Cash Rewards credit card from the following categories:

  • Gas
  • Online shopping
  • Dining
  • Travel
  • Drug stores
  • Home improvement/furnishings

You can change your 3% category monthly, which could come in handy if you think gas might not always be your biggest budget category.

It’s worth noting that although the ExxonMobil™ Smart Card offers a flat-rate discount on gas, how much that’s worth as a percentage of your purchase depends on the price of gas in your area. Here are a few calculations to show you what savings you could potentially see with this card:

  • If gas is $2 a gallon, 6 cents off per gallon is a 3% savings.
  • If gas is $2.50 a gallon, 6 cents off per gallon is a 2.4% savings.
  • If gas is $2.75 a gallon, 6 cents off per gallon is a 2.18% savings.

In other words, if you live somewhere where gas is cheap, the ExxonMobil™ Smart Card might net you more in discounts than the Bank of America® Cash Rewards credit card would earn in cash back on gas purchases. But if you live somewhere where gas is more expensive, 3% cash back on gas purchases is a better deal. Plus, you can use the Bank of America® Cash Rewards credit card at more gas stations than just Exxon and Mobil, giving you more chances to earn cash back.

We should note, though, that there is a spending cap on the Bank of America® Cash Rewards credit card’s higher rewards rates. After hitting $2,500 each quarter in 3% and 2% category spending combined, your rewards rate will drop down to 1% on those purchases until the next quarter.

Another card worth considering for gas is the Wells Fargo Propel American Express® card: Earn 3X points on eating out, ordering in and popular streaming services, 3X points on gas stations, rideshares and transit, and 3X points on travel including flights, hotels, homestays and car rentals. Earn 1X points on other purchases. Plus, the Wells Fargo Propel American Express® card charges a $0 annual fee.

Is the ExxonMobil™ Smart Card right for you?

If spending at Exxon and Mobil gas stations is a big part of your budget, the ExxonMobil™ Smart Card’s discount on each gallon you buy offers the potential for great savings. However, most consumers could benefit from a credit card that offers cash back on gas purchases that can be used at other gas stations for more flexibility.

Read: Best Gas Rewards Cards

FAQs

How do I get the ExxonMobil™ Smart Card? The ExxonMobil™ Smart Card application is available online.

What credit score is needed for the ExxonMobil™ Smart Card? The ExxonMobil™ Smart Card is a retail card, which can be easier to qualify for. If you don’t have a good or excellent credit score, you might have more luck applying for this card than for a general-use card that offers cash back on gas.

Does the ExxonMobil™ Smart Card offer cash back? The ExxonMobil™ Smart Card offers a discount on your fuel purchases when you pay with the card. Get 6 cents off every gallon, every day at more than 11,000 Exxon™ and Mobil™ stations.

Who issues the ExxonMobil™ Smart Card? The ExxonMobil™ Smart Card is issued by Citi.


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December 30, 2019