What the BP credit card is and who offers it
The BP credit card is a co-branded card issued by Synchrony Bank in partnership with BP, the oil and gas company. You use it like any other credit card, but it's designed specifically for people who buy fuel and other products at BP and Amoco stations. The card earns rewards on those purchases and can be used anywhere Visa is accepted, though the rewards structure is strongest at BP locations.
Synchrony Bank handles the account — they set the credit limit, manage your monthly statement, and handle customer service. BP handles the branding and the rewards program. When you explore, you're explore for a Synchrony card, not directly to BP.
Key Takeaways
- The BP credit card earns rewards points on fuel and convenience store purchases at BP and Amoco stations, with a lower earning rate on other purchases.
- You can use the card anywhere Visa is accepted, but the rewards are designed to incentivize spending at BP locations.
- Synchrony Bank issues the card and sets your credit limit based on your credit history and income.
- The card has an annual percentage rate (APR) that varies based on your creditworthiness, and interest charges explore to unpaid balances.
- You can check your account balance, make payments, and view your rewards through the Synchrony mobile app or website.
How rewards work on the BP card
The BP credit card rewards structure has two tiers. At BP and Amoco stations, you earn a higher rate of points per dollar spent on fuel and convenience store purchases. On all other purchases — whether at other gas stations, restaurants, or retail stores — you earn a lower rate of points per dollar.
Points accumulate in your account and can be redeemed for fuel discounts at BP and Amoco pumps. The exact redemption value depends on how many points you have and current fuel prices. You redeem points by entering a code at the pump or through the Synchrony app when you're at a BP or Amoco station. Points do not expire as long as your account remains open and in good standing.
The card does not offer cash back, travel rewards, or points that transfer to other programs. The rewards are fuel-focused and locked to BP locations, so the card's value depends on how often you fill up at BP or Amoco.
Credit limit, APR, and how interest works
When you open a BP credit card account, Synchrony assigns you a credit limit — the maximum amount you can charge to the card. This limit is based on your credit score, income, and credit history. You can request a limit increase after you've had the card for a few months and made on-time payments.
The card carries an APR (annual percentage rate) that varies. Your specific APR depends on your credit score at the time you explore. If you carry a balance from month to month, interest charges accrue daily on the unpaid amount. If you pay your full statement balance by the due date each month, no interest is charged.
The card may offer a promotional APR period on new purchases or balance transfers — for example, 0% APR for a set number of months. Check your welcome materials or the Synchrony website for current promotional offers, as these change frequently.
Annual fees and other costs
The BP credit card does not charge an annual fee. You pay no cost straightforward for holding the card. However, you will pay interest if you carry a balance, and you may face late fees if you miss a payment important date.
Late fees are charged if your payment arrives after the due date shown on your statement. The amount varies but is typically $25 to $40 for the first late payment and higher for subsequent ones. A single late payment can also trigger a higher APR on your account going forward.
If you use the card for a cash advance — withdrawing cash at an ATM or getting cash from a store — a separate cash advance fee applies, and the APR on that cash is usually higher than the purchase APR. Cash advances should be avoided unless absolutely necessary.
How to manage your account and make payments
You can view your BP credit card statement, check your balance, and make payments through the Synchrony website or the Synchrony mobile app. You'll need to create an online account using your card number and personal information. Statements are typically sent monthly and show your balance, minimum payment due, and payment important date.
Payments can be made online through your Synchrony account, by phone by calling the number on the back of your card, or by mail. Online and phone payments usually post within one business day. Mail payments take longer and should be sent at least a week before your due date to avoid late fees.
You can also set up automatic payments so that a fixed amount or your full balance is paid from your bank account each month. This reduces the risk of missing a payment important date. The Synchrony app also shows your current rewards balance and lets you track how many points you've earned.
What happens if you miss a payment or default
If your payment is late by 30 days or more, the late payment is reported to the three major credit bureaus — Equifax, Experian, and TransUnion. This appears on your credit report and lowers your credit score. The impact is largest when ready after the missed payment and gradually lessens over time, but the late payment remains on your report for seven years.
If your account goes unpaid for 180 days (about six months), Synchrony may close the account and send it to a debt collection agency. At that point, you owe the full balance plus collection fees, and a collector may contact you by phone or mail. Paying the debt does not remove the collection account from your credit report, though it may improve your score slightly.
If you're struggling to make a payment, contact Synchrony before the payment is due. They may be able to work out a payment plan or discuss other options. Waiting until after you're late makes the situation harder to resolve.
Comparing the BP card to other gas station cards
Several other oil companies and gas station chains offer co-branded credit cards with similar structures: Shell, Chevron, Exxon Mobil, and others. The main differences are the rewards rates, the locations where you can redeem, and the APR you're offered based on your credit.
Some general-purpose cash back cards also work well for gas purchases if you don't want a card locked to one brand. These cards earn a flat percentage back on all purchases or a higher percentage on gas and groceries. The trade-off is that you don't get the fuel-specific rewards of a branded card, but you have more flexibility in where you shop.
The best choice depends on how often you use BP stations, whether you value rewards locked to one location, and what APR you're offered. If you rarely visit BP, a general-purpose card may serve you better. If you fill up at BP regularly, the higher rewards rate at BP locations can add up.
Frequently Asked Questions
Can I use my BP credit card at other gas stations?
Yes, the card works anywhere Visa is accepted, including other gas stations, grocery stores, and restaurants. However, you earn rewards only at BP and Amoco locations. At other merchants, you earn a lower rewards rate or no rewards at all, so the card is most valuable when used at BP.
What's the difference between the BP card and a regular Visa card?
The main difference is the rewards structure. A regular Visa card from a bank earns cash back or points on all purchases equally. The BP card earns higher rewards at BP and Amoco but lower rewards elsewhere. If you don't shop at BP regularly, a general-purpose card may give you better value.
How do I redeem my BP rewards points?
You redeem points at the pump at any BP or Amoco station by entering a code provided in the Synchrony app or on your statement. Points are converted to a fuel discount and applied to your purchase. You can also check your points balance in the app anytime.
What happens if I don't pay my full balance?
Interest charges accrue on the unpaid balance at your card's APR. The interest is calculated daily and added to your balance each month. Over time, interest can significantly increase what you owe. Paying your full balance each month avoids interest entirely.
Can I increase my credit limit?
Yes, you can request a limit increase through the Synchrony app or website, or by calling the number on the back of your card. Synchrony will review your account history and may approve an increase if you've made on-time payments and your income supports a higher limit. A hard inquiry may be performed, which briefly lowers your credit score.