Dear CreditShout, I was wondering what your take is on the Speedway MasterCard and gas rewards program. I was thinking about signing up since gas prices keep rising, but after reading your BP Pump Rewards review I’m having second thoughts. What should I do?

Great question. Before we answer this I would like to give our readers a little background on this program. The Speedway Platinum MasterCard is station-specific gas rewards card which offers points that can be used for discounts on gas and other items. On the surface, this card appears to offer great rewards. Is this the case or in this just another lackluster gas card? Let’s find out!

Earning Points with Speedway Rewards Program

On most Speedway purchases (whether you have the Speedway Platinum MasterCard or not), you’ll earn 20 points per dollar spent. There are a few items that do not qualify for points, including tobacco, alcohol, lottery tickets and others. So, if you plan on hitting the jackpot by buying 1,000 lottery tickets at Speedway, you won’t hit the jackpot in points. Just be sure not to purchase too much alcohol if you don’t win, as you won’t earn points for it, either!


Speedway also offers combo points and bonus points on select purchases during select periods. For example, a particular brand’s bag of potato chips and a soft drink may qualify for 200 bonus points. A particular item alone may also qualify for additional points.

In addition to the points that you’ll already earn on your Speedway purchases, you’ll earn 40 points per dollar spent at Speedway with the Speedway Platinum MasterCard. So, if you spend $1 during your next visit, you’ll earn 60 points. For purchases outside of Speedway, you’ll earn 10 points per dollar spent with this card.

How Much Will You REALLY Save on Gas?

Speedway offers discounts on gasoline for set amounts of points. These are as follows:

  • 10 cents per gallon – 1,750 points
  • 25 cents per gallon – 4,375 points
  • 50 cents per gallon – 8,750 points

The amount of money that you’ll save on gas ultimately depends on how much gas you purchase. Let’s take a look at an example.

Suppose that you just love shopping at Speedway. You only use your Speedway Platinum MasterCard at Speedway locations and get 60 points per dollar spent. Of course, you could earn bonus points, but let’s assume that you don’t so that neither of us has an aneurysm.


Let’s assume that you purchase 15 gallons of gas at $4 per gallon to fill up your tank. Below is an illustration of how much money you’d have to spend to earn enough to qualify for a discount at each level and some other associated statistics:

Discount Per Gallon 10 cents 25 cents 50 cents
Required Points 1750 4375 8750
Money Spent $30 $75 $150
Gallons Purchased 15 15 15
Total Price $60 $60 $60
Total Discount $1.50 $3.75 $7.50
Percent Saved 2.5 6.25 12.5

As we can see, you’ll earn significant rewards on your gas purchases if you use this card for Speedway purchases. At 50 cents per gallon, you’d have a discount of 12.5 percent on the given example.

An important factor to note is the reward percentage per dollar spent, as this is the value of the reward that you are getting. With our example of a purchase of 15 gallons, you’d earn a discount of 5 percent when compared to the money that you spent to earn that discount in the first place.

Is the Speedway Platinum MasterCard a Good Gas Rewards Card?

Surprisingly, this is actually a good gas card. Unlike most other station-specific gas cards, this card offers a decent rewards program. I say that conditionally, as it is best suited for those who intend to primarily use it at Speedway locations, given that the rewards are much higher.

Although the mentioned example may be a bit complicated, you can expect to earn a value of around 5 percent per dollar spent with this card if you use it at Speedway locations. This is just an estimate and will vary based on your spending habits and how much fuel you purchase. I can’t think of another station-specific card that even comes close to that level of rewards.

Our Verdict: The Speedway Platinum MasterCard is a good bet for Speedway customers. With no annual fee, 10,000 bonus points and high-quality purchase rewards, it will be beneficial to just about every Speedway customer who uses it. If Speedway is a prominent business in your area, this card is an easy choice over the cards of most competitors.