What the BP Visa card rewards you for

The BP Visa card gives you cash back on purchases at BP gas stations and, in most cases, at other merchants. The cash back rate depends on where you spend: you earn a higher percentage at BP stations than you do everywhere else. The card is issued by Synchrony Bank, not by BP itself, and the rewards structure can vary slightly depending on which version of the card you hold.

Cash back accumulates in your account and can be redeemed as a statement credit, a check, or sometimes applied directly to your BP account. You do not earn rewards on balance transfers or cash advances, and the card carries an annual fee that you should factor into whether the rewards justify the cost.

Key Takeaways

  • The BP Visa card earns a higher cash back rate at BP stations than at other retailers, so the card makes most sense if you fill up at BP regularly.
  • Cash back rates vary by card version and can change, so you should check your cardholder agreement or call Synchrony to confirm your current earning rate.
  • The card charges an annual fee, which means you need to earn enough cash back to cover it before you come out ahead.
  • Rewards post to your account monthly and can be redeemed as a statement credit, check, or applied to your BP fuel account.

Cash back rates at BP versus other places

At BP gas stations, the cash back rate is typically higher than the rate you earn at other merchants. The exact percentage varies depending on which BP Visa product you have — the standard card, the rewards card, or a co-branded version — so the rate you see in your cardholder agreement is the one that applies to your account.

Outside of BP stations, you earn a lower cash back rate on all other purchases. This means the card is designed to reward loyalty to BP specifically, not to be a general-purpose rewards card. If you rarely fill up at BP, the annual fee will likely cost more than the cash back you earn.

Some versions of the card also offer bonus cash back during promotional periods, such as extra cash back for the first few months after you open the account. These promotions change, so check the current offer before you explore.

How to redeem your cash back

Cash back accumulates monthly in your Synchrony account and is available to redeem once it reaches a certain threshold — usually a small amount like $1 or $5. You have several options for how to use it: you can explore it as a credit to your monthly statement, request a check mailed to you, or in some cases explore it directly to your BP fuel account for use at the pump.

The redemption process is straightforward. Log into your Synchrony account online or call the customer service number on the back of your card, and select your redemption method. There is no expiration date on cash back, so you can let it accumulate if you prefer to redeem a larger amount at once.

Annual fee and whether the rewards pay for it

The BP Visa card charges an annual fee. The amount varies depending on the card version, so check your offer or cardholder agreement for the exact fee. This is a real cost that reduces your net benefit from the card, and it renews every year as long as you keep the account open.

To determine whether the card makes financial sense for you, calculate how much cash back you earn in a year and compare it to the annual fee. For example, if the fee is $95 and you earn 2% cash back at BP on $3,000 in annual fuel purchases, you earn $60 — which is less than the fee. If you spend $5,000 annually at BP, you earn $100, which covers the fee with $5 left over. The higher your BP spending, the more the card benefits you.

If you do not use the card for at least a few months, the annual fee still applies, so it makes sense to close the account if you know you will not be filling up at BP regularly.

How cash back compares to other fuel cards

Other fuel cards and general rewards cards offer different structures. Some gas station cards offer flat cash back rates at their branded stations without an annual fee. Some general rewards cards offer 1% to 2% cash back everywhere, including gas stations, with no annual fee. Some premium cards offer higher rates but charge higher annual fees.

The BP card makes sense if you fill up at BP frequently and the cash back rate at BP is higher than what you would earn with a no-fee alternative. If you split your fuel purchases between multiple stations or prefer a card with no annual fee, a general rewards card might save you more money overall. Calculate your actual spending at BP, at other gas stations, and at other merchants to see which card structure benefits you most.

What happens to your rewards if you close the account

If you close your BP Visa account, any cash back you have accumulated remains in your account and can still be redeemed. Synchrony will not forfeit your rewards straightforward because you closed the card. However, you should redeem any remaining cash back before closing the account to avoid any confusion or delays.

Once the account is closed, you cannot earn new rewards, but the cash back you already earned is yours to use. Contact Synchrony to confirm the redemption process if you are closing the account and want to make sure your cash back is applied correctly.

Frequently Asked Questions

Do I earn rewards on every purchase with the BP Visa card?

No. You earn cash back on purchases at BP gas stations and at other merchants, but the rate is higher at BP. You do not earn rewards on balance transfers, cash advances, or fees.

Can I use my BP Visa rewards at other gas stations?

Your cash back is redeemed as a statement credit, check, or fuel credit in your BP account — it is not a points system tied to a specific station. Once you redeem the cash back, you can spend it anywhere, including at other gas stations.

What if I do not use my BP Visa card for a few months?

The annual fee still applies even if you do not use the card. If you know you will not be filling up at BP for an extended period, closing the account avoids paying the fee for months you are not earning rewards.

How long does it take for cash back to post to my account?

Cash back typically posts monthly, so rewards from purchases made in one month appear in your account during the following month. Check your cardholder agreement or account for the exact posting schedule.

Can I transfer my BP Visa rewards to another card or account?

No. Rewards are tied to your BP Visa account with Synchrony and can only be redeemed through the methods Synchrony offers: statement credit, check, or BP fuel account credit. You cannot transfer them to another card or rewards program.