The basics of the Valero Card

The Valero credit card is a credit card offered by an oil and gas company for use in their facilities. The company offers several different types of credit cards, with greater benefits being available on their platinum and gold cards. The main function or use of these credit cards is to allow consumers to purchase oil or gas in the Valero station. The company reports that they have 5,600 locations, which accept the Valero credit card. This number means that some gas and convenience stores that operate under a different name besides Valero will accept this credit card.

The Valero credit card is an operational credit card, meaning that the card will allow people to buy gasoline or other services from a Valero station on credit, paying it back over time. However, a person must understand that the Valero credit card only functions at participating businesses. Thus, the card is not allowed to be used at other stores, businesses, or other enterprises. Additionally, since the company restricts the use of the Valero credit card to their facilities, the company offers two special programs for cardholders. The first program is that the company will limit the amount of credit available per card. The program allows Valero to extend credit to its customers, but assist them in maintaining a low revolving amount of credit. The other program is that the card can opt for an option to use it only for fuel expenses on the card. This program means that a consumer can utilize the card solely for fuel purchases, keeping fueling costs separate from other expenses. The secondary program may be helpful to business, which needs to keep gas receipts for a company owned vehicle separate from personal expenses.

In the end the Valero credit card would best be utilize by business or sales rep who needs to keep track of their fueling expenses. The reasoning behind this is that the company limits most of the benefits available to the credit card. Thus, the premier benefit that the card offers is to keep track of fueling expenses or expenses related to Valero purchases separate from other expenses. However, the company does offer a few small benefits to cardholders. The premier offering of the Valero card is that the consumer may be able to save up to eight cents per gallon of gas when purchased with this card.

To qualify for a Valero credit card you will have to meet the standard set by the issuing bank, which are quite similar to other bank requirements. Thus, expect that you have to have certain credit score as well as a specified amount of income.

Rewards or benefits

As previously stated the Valero credit card is limited on the amount of rewards or benefits offered to its holder. The primary offering from the company is that the consumer may be able to save up to eight cents per gallon of gas when using the card purchase fuel at a Valero associated station. Other than this specific benefit, the card is extremely limited on other benefits. There are no benefits for repeated use or purchases, which can be applied to other purchases, outside of fueling.

It is possible that the amount of stations or locations, which accept the Valero credit card may be considered a possible reward or benefit. With 5,600 locations available throughout the US, the Valero credit card reach is rather substantial. This can be of major benefit to the business or professional driver who needs to keep fueling expenses separate from other personal expenses. Thus, one of its main benefits offered by the company, a holder could keep track of fueling expenses for individual or business.

Specific fees and rates

There are several fees and rates associated with the Valero credit card. The general credit card does not have any annual fee. However, the gold card does require a $10 annual fee. The company does impose a late fee of $35, if the minimum payment or greater is not made on the due date. The APR for purchases at a Valero location is 23%. This APR may be raised to 27.49% as a penalty if payments are not made in a timely manner. Thus, most of the fees associated with the Valero card are similar to other credit cards on the market; one should keep this in mind when considering a Valero Credit Card.