What the Exxon Mobil Rewards+ card is and who issues it

The Exxon Mobil Rewards+ card is a co-branded credit card issued by U.S. Bank in partnership with Exxon Mobil. You use it like any other credit card, but you earn rewards points on purchases — especially at Exxon and Mobil gas stations. The card is not a fuel discount card; it is a rewards card that gives you points you can redeem later, usually for fuel discounts or cash back.

U.S. Bank sets the terms: the interest rate, the annual fee, the rewards structure, and the rules for how long you can keep the card. Exxon Mobil does not issue the card or set the rates, though the card carries their branding and you earn rewards in their loyalty program.

This card is different from a straightforward gas station card that gives you a discount at the pump. With the Rewards+ card, you accumulate points over time and decide when to use them. Points typically convert to fuel discounts, but the exact redemption options and point values change, so you should check the current terms before you open the account.

Key Takeaways

  • The Exxon Mobil Rewards+ card is issued by U.S. Bank and earns points at Exxon and Mobil stations, plus other purchases, but the rewards rate and annual fee vary by the specific version of the card.
  • You earn points on every purchase and redeem them for fuel discounts or other rewards, but the point value and redemption options are set by U.S. Bank and can change.
  • The card charges an annual fee, which U.S. Bank may waive for the first year; you should confirm the current fee before opening an account.
  • Like all credit cards, this card reports to the three major credit bureaus, so on-time payments help your credit score and late payments hurt it.
  • The card comes with a standard credit card interest rate (APR) that applies to any balance you carry month to month.

How rewards points work on this card

When you use the Exxon Mobil Rewards+ card, you earn points on two categories: purchases at Exxon and Mobil stations, and all other purchases. The earning rate differs between the two. At Exxon and Mobil, you typically earn more points per dollar spent than you do on other purchases, though the exact rates are set by U.S. Bank and can change.

Points accumulate in your account as you spend. You do not redeem them automatically; instead, you log into your account or visit a participating Exxon or Mobil station and choose to convert your points into a fuel discount. The discount is usually applied as cents off per gallon, and the conversion rate (how many points equal how many cents off) varies depending on current promotions.

Points do not expire as long as your account remains open and in good standing. However, if you close the account or let it become inactive for an extended period, U.S. Bank may cancel your points. You should check the current terms to understand the exact inactivity rules.

Annual fees and other costs

The Exxon Mobil Rewards+ card charges an annual fee, which U.S. Bank may waive for your first year. After that, the fee applies every year you keep the card open, whether you use it or not. The amount of the annual fee depends on which version of the card you have; U.S. Bank offers different tiers with different benefits and different fees.

In addition to the annual fee, the card carries a standard credit card interest rate (APR) that applies if you carry a balance from month to month. This rate is not set by Exxon Mobil; U.S. Bank determines it based on your credit score and creditworthiness. If you pay your full statement balance by the due date each month, you pay no interest.

Some versions of the card may offer additional benefits — such as roadside information, purchase protection, or extended warranties — that have their own terms and conditions. You should review the full benefits guide before opening an account to understand what you are paying for.

How the card affects your credit score

Opening the Exxon Mobil Rewards+ card triggers a hard inquiry on your credit report. This is a formal request to see your credit history, and it can lower your credit score by a few points for a few months. The inquiry itself is temporary, but it appears on your report for about two years.

Once the account is open, your payment history becomes the biggest factor. If you pay on time every month, the account helps your credit score by showing lenders you manage credit responsibly. If you miss a payment, even by a few days, the late payment is reported to the credit bureaus and can damage your score for up to seven years.

The card also affects your credit utilization ratio — the percentage of your available credit you are using at any given time. If you charge a large balance and carry it month to month, your utilization goes up, which can lower your score. Paying down the balance before your statement closes keeps utilization low and protects your score.

Comparing this card to other gas rewards options

The Exxon Mobil Rewards+ card is one of several ways to earn rewards on gas purchases. Some people use a general cash-back card that earns a flat percentage on all purchases, including gas. Others use a card that earns bonus points at specific gas stations but charges a higher annual fee. A few people use a straightforward gas station card that gives a discount at the pump without any rewards program.

The choice depends on how much you spend at Exxon and Mobil versus other gas stations, whether you want to pay an annual fee, and what you value more: when ready discounts or accumulated points you redeem later. If you rarely visit Exxon or Mobil, a general cash-back card might save you money. If you fill up at Exxon or Mobil regularly and the rewards rate is high enough to offset the annual fee, the Rewards+ card may be worth it.

To compare, calculate your average annual gas spending at Exxon and Mobil, multiply it by the rewards rate, and subtract the annual fee. If the result is positive and larger than what you would earn with a different card, the Rewards+ card is the better choice for you.

What happens if you miss a payment

If you miss a payment on the Exxon Mobil Rewards+ card, U.S. Bank will charge you a late fee and report the missed payment to the credit bureaus. The late fee amount depends on your account terms, but it is typically $25 to $40 for the first late payment and higher for subsequent ones.

A payment is considered late if it arrives after the due date shown on your statement. Even a payment that is one day late can trigger a fee and a credit report entry. If you are more than 30 days late, the missed payment appears on your credit report and can lower your score significantly. If you are 60 or 90 days late, the damage to your score is even greater, and U.S. Bank may close your account.

If you realize you will miss a payment, contact U.S. Bank before the due date. Some cardholders can arrange a short extension or a temporary payment plan, though this is not may provide. Paying as soon as you can after you miss a payment does not erase the late fee or the credit report entry, but it stops additional fees from accumulating.

How to manage your account and redeem rewards

You manage your Exxon Mobil Rewards+ account through U.S. Bank's online portal or mobile app. You can view your current points balance, your statement, your payment due date, and your rewards redemption options. Most cardholders redeem points at the pump by entering a code or scanning a card, or they log into their account online to convert points to a fuel discount before they visit the station.

The redemption process varies by location and by the current promotion. Some Exxon and Mobil stations let you redeem points directly at the pump; others require you to redeem online first and then use the discount code at the pump. You should check the Exxon Mobil website or call customer service to confirm the redemption method at your regular station.

If you have questions about your account, your points balance, or how to redeem, U.S. Bank customer service is available by phone, email, or through the mobile app. Exxon Mobil customer service can answer questions about the rewards program itself, such as which stations participate or how points convert to fuel discounts.

Frequently Asked Questions

Do I have to use this card only at Exxon and Mobil stations?

No. You can use the card anywhere that accepts Visa (or Mastercard, depending on the card version). You earn a lower rewards rate on non-Exxon and Mobil purchases, but you still earn points. This makes the card useful as an everyday card, not just for gas.

What happens to my points if I close the account?

Points are typically forfeited if you close the account. U.S. Bank's terms state that points are tied to the account, so closing it means losing any balance you have not yet redeemed. You should redeem all points before you close the account if you want to use them.

Can I transfer my points to another rewards program?

No. Points earned on the Exxon Mobil Rewards+ card can only be redeemed through the Exxon Mobil rewards program. They cannot be transferred to airline miles, hotel points, or other programs. You redeem them for fuel discounts or other Exxon Mobil rewards only.

Is there a sign-up bonus when I open this card?

U.S. Bank occasionally offers sign-up bonuses for the Exxon Mobil Rewards+ card, such as bonus points after your first purchase or after you spend a certain amount in the first few months. These offers change frequently, so you should check the current offer before you open an account.

What is the credit limit, and can I request a higher one?

U.S. Bank sets your initial credit limit based on your credit score and income. You can request a higher limit by contacting U.S. Bank customer service, though approval is not may provide. A higher limit can help your credit utilization ratio if you keep your balance low, but it does not change the interest rate or annual fee.