Martin Lewis shares a credit card you should use to help reduce your gas bills

MARTIN Lewis revealed a credit card hack that can drastically reduce your gas bills when filling up.

But drivers must remember one golden rule to reap the rewards of his advice.

The savings expert on The Martin Lewis Money Show Live

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The savings expert on The Martin Lewis Money Show Live

The money-saving expert recommended paying for fuel with cashback credit cards, which pay you back every time you spend them.

Martin’s trick can save drivers money when they fill up their tanks as long as they always follow the golden rule.

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Set up a direct debit to pay off the card in full each month, so you never have to pay interest. The interest would exceed the money won.

Credit card companies offer cashback or rewards programs for one reason – to get customers to spend money on the card and pay them interest. The interest cost of all cashback cards will dwarf the cashback a customer earns.

Lenders screen anyone who applies for a cashback card for creditworthiness. Therefore, keep in mind that multiple applications in a short period of time can affect your future creditworthiness.

Setting up a direct debit is an easy way to pay off the card in full, as the card company can collect the amount owed each month.

Most read in The Irish Sun

Martin recommended selecting the Full Payout option from direct debit forms, but cautioned drivers that some providers intentionally omit this option from the application as it makes them less money.

In this case, he advised writing “pay out in full” on the form and calling the provider after a week or two to check that the request has been received.

The savings expert’s top cashback credit card is the American Express bonus card. It offers a 5% bonus cashback on anything you buy up to a maximum of £100. Cashback is capped at 1% after this introductory bonus and you must spend over £3,000 per year to receive cashback.

Martin has been vocal about the difficulties the nation is facing as the cost of living continues to rise. He predicted on the radio that “civil unrest is not far away” as many have “nothing left to cut”.

Financial guru’s author advice comes after warning Brits not to spend Renewal of your passport. He advised holidaymakers to be careful when renewing their documents online, as a number of sites offer expedited service on Google, but you unnecessarily.

Martin also recently pointed out to Brits a maternity allowance for new parents. The one-off payment of £500 is designed to help those on the lowest incomes known as the Sure Start Maternity Grant. He recommended the fund to new or expectant parents struggling with the rising cost of living.

The fuel pump consultation comes afterwards every third garage was closed yesterday in southern England, according to fuel campaigners. Protesters from the eco-mob Just Stop Oil blocked oil terminals affecting up to 1,200 pumps south of the Midlands.

However, retailers have reassured drivers that there is no need to panic buy fuel. Motorists have been advised to continue to fill their tanks as usual if necessary.

Martin's trick can save drivers money when they fill up their tanks as long as they always follow the golden rule

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Martin’s trick can save drivers money when they fill up their tanks as long as they always follow the golden ruleCredit: Alamy

https://www.thesun.ie/motors/8640036/martin-lewis-credit-card-slash-fuel-bills-rule/ Martin Lewis shares a credit card you should use to help reduce your gas bills

Fry Electronics Team

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