10000 Bonus Points - Speedway SuperAmerica Platinum MasterCard!

[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).]

This product has been discontinued. If you want a gas card, you may check out Amex's True Earnings card which offers 3% cash back on all gas purchases.

During our fund raising tour to Michigan this Thanksgiving, we noticed the presence of a rewards program from Speedway and SuperAmerica at local gas stations. Curious to find out what it was about we discovered a credit card from Chase which facilitates this rewards program.

Highlights

• Online Deal
• Bonus:
• You will receive 10,000 bonus points with this offer.
  
• Please allow 6 to 8 weeks after your first use of card for bonus points to post to your account.
  
• First use includes purchases, balance transfers, cash advances, or any checks that are used to access your account.
  
• To qualify for bonus points, account must be open and not in default at the time of fulfillment.
  
• The bonus offer is valid only for first-time cardmembers with new accounts. Only one bonus per account.
  
• Existing cardmembers/accounts are not eligible for the bonus offer.
• Rewards Program:
• You will earn 40 points for each $1 of Net Purchases at qualified Speedway or SuperAmerica locations and 10 points for each $1 of all other Net Purchases. ("Net Purchases" means purchases of goods and services made by you or any authorized user on your account minus any returns or refunds.)
  
• You do not earn points on balance transfers, cash advances, cash-like charges such as travelers checks, foreign currency, and money orders, any checks that are used to access your account, overdraft advances, interest, unauthorized or fraudulent charges, or fees of any kind, including fees for products that protect or insure the balances of your account.
  
• There is no maximum number of points that you can accumulate in the program.
• Discounts or fuel rewards not available in Wisconsin and West Virginia. Certain rewards may not be available at all locations at all times.
• Redeem for FREE gas, food, or gift certificates to Applebee's, Blockbuster, and more. Select the offer of your choice, and you'll get a coupon for your reward on the spot!

An analysis of the rewards available will show us how the Speedy points convert to dollars. This conversion will help us see how this credit card fares against other gas cards like Discover's Open Road Card, Chase's BP Visa Card and cash reward cards like Citi Pro and Citi Diamond Master Cards.

At the highest end of the rewards chart, 66000 Speedy Points buys us a $100 Speedy Cash Gift card. So 1 Speedy Point is equivalent to 0.15 cents. Hence the bonus and rewards for purchases (in terms of Speedy Cash Gift Cards) are equivalent to:

• 10,000 Sign-up Bonus Speedy Points: $(0.15/100) * 10000 = $15 (Speedy Cash Gift Card)
• 40 Speedy Points for each $1 of Net Purchases at qualified Speedway or SuperAmerica locations: $(0.15/100) * 40 = $0.06 (Speedy Cash Gift Card). This is a terrific return of 6% for each dollar spent at qualified Speedway or SuperAmerica merchandise.
• 10 Speedy Points for each $1 of all other Net Purchases: $(0.15/100) * 10 = $0.015 (Speedy Cash Gift Card). This is equivalent to 1.5% return for each dollar spent on purchases elsewhere.

All this math tells us that this credit card is good for folks who purchase a lot of gas at qualified Speedway or SuperAmerica locations since it offers 6% return for every $ spent there. For all other purchases its offering a 1.5% return on each $ spent and has a sign-up bonus worth $15. A cool deal for Speedway or SuperAmerica fans!

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