Valero is currently North America’s largest independent refiner and distributor of petroleum. For their customers’ convenience, the San Antonio, Texas based company offers two credit cards: the standard consumer card and the Fleet Services card. Both of these cards are serviced by DSRM National Bank, a wholly-owned company subsidiary, and offer a number of benefits for their users.
The consumer version of the Valero Credit Card may be used for fuel and/or merchandise purchases at any Valero location nationwide. It also offers fuel-only options if desired, designed to help you keep your purchases as well as your budget in check. The card has flexible payment terms, which allow you to decide the monthly due date for your payments.
The card has no annual fee. It has a 23% APR, which may seem somewhat high, but is right on target with other in-house credit cards of it’s type. There is a penalty APR of 27.24% which is incurred when you make a late payment. Once this penalty has been applied to your account, it will remain until you have made six consecutive on time payments. Penalty fees for late payments may be as much as $35, and fees for returned payments as much as $25.
To avoid paying interest on purchases, be sure to pay off your entire balance on time each month! Do be aware, however, that if you are charged interest the Valero card has a $2 minimum interest charge.
With the Valero Credit Card, you get pay at the pump convenience, as well as personalized customer service. To keep you up to date on your account, you also gain access to Valero Self Serve, an online account management and bill pay system. The Valero consumer Credit Card does not currently offer a rewards program.
Valero’s Fleet Services card offers three levels of service, depending on the needs of your company. All three levels offer no annual fee, renewal fees, account set up fees or replacement card fees. The Basic and Enhanced levels both offer volume discounts on fuel purchases of up to 2.5 cents per gallon. The Basic level has a monthly fee of $5 per account. The monthly fee for the Enhanced level is $10 per account, however it comes with more detailed vehicle and driver reports and account monitoring. The Commercial Level has less features and no volume fuel discounts, but also has no monthly fee. There are no per card fees with any of the service levels. Interest levels for all three of the Fleet Services cards vary by state.
Regardless of your chosen membership level, the Fleet Services card may be used at any Valero or affiliate location for fuel and merchandise purchases, as well as at participating locations for maintenance services such as oil changes, inspections, etc. The account management service offers security options to help limit and keep track of your expenses as well as monitor the activity of each vehicle or driver.
The application process for both the consumer card and the Fleet Services card is fast and easy. Applying online via the Valero website is the fastest and easiest way to get a response, with instant approval in some cases. You may also easily apply over the phone using their toll free number, or in person at your nearest Valero location.
Valero could fill you up at the pump but not in rewards
You may have noticed that Valero is taking over Diamond Shamrock gas stations lately; I think they are even taking over other brands as well. The name Valero came out of nowhere in some cities to its new stardom of being a new gas station leader. Although their gas station presence is growing their credit card is not anything to get excited about. The Valero credit card pays you 5 cents per gallon for only 3 months. Then you just use the card and they make money from you without any rebate. This card does nothing for anyone but a promotional period to lure you into their card at 5 cents per gallon for a few months. There are too many other better cards to have that pay you 5% or 5 cents per gallon without a promotional period and they are real credit cards to be used anywhere instead of just at Valero locations. I would vote no on the Valero credit card and yes on this current 5% back offer.
Locations where you can use this gas credit card are at Valero, Diamond Shamrock, Beacon, and Shamrock stores. This limits you and is a major drawback to this gas card. It is always better to choose a gas card that you can use anywhere instead of carrying around 5 different branded gas cards in your wallet to get each offer. The only benefit in using this card would be to itemize which purchases you had at Valero gas stations but you could do that with any credit card with much more convenience.