What the BP credit card is and who issues 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 at BP gas stations and convenience stores to earn rewards on fuel and other purchases. The card is not issued by BP itself — Synchrony handles the account, billing, and customer service.
BP offers two main versions: the BP Plus credit card and the BP Rewards credit card. Both work the same way at the pump, but they differ in rewards rates, annual fees, and what you earn on purchases outside BP stations. The card you see advertised most often depends on current promotions, which change throughout the year.
This is a standard credit card, not a prepaid or gift card. You receive a monthly bill, pay interest if you carry a balance, and build or damage your credit score based on how you use it — the same as any other credit card.
Key Takeaways
- The BP credit card earns rewards on fuel purchases at BP stations, but the rewards rate and annual fee depend on which version you hold.
- Synchrony Bank issues the card and handles billing and customer service, not BP itself.
- You pay interest on any balance you do not pay in full each month, and late payments hurt your credit score.
- The card requires a credit check at signup, so your credit score affects whether you are approved and what interest rate you receive.
- Rewards expire after a set period if you do not use them, so tracking your balance matters.
Rewards rates and how they work
The BP Plus card earns 2% cash back on all BP purchases (fuel and in-store items) and 1% cash back on all other purchases. The BP Rewards card earns 3% cash back on BP fuel purchases, 1% on BP in-store purchases, and 1% on all other purchases. Both cards have an annual fee — the exact amount varies by offer and changes periodically.
Rewards are posted to your account as a statement credit or cash back, depending on the card version and current terms. You do not receive a separate rewards account or points balance to track in a different system — the credit appears on your bill. Some versions allow you to redeem rewards as a statement credit automatically, while others require you to request the redemption.
Rewards do expire. The timeframe varies by card version and offer, so check your cardholder agreement or call Synchrony to confirm how long your rewards remain valid. If you do not use the card for an extended period, rewards may be forfeited.
Interest rates and what you pay if you carry a balance
The BP credit card charges a variable interest rate, meaning the rate can change over time based on market conditions and your creditworthiness. Your specific rate depends on your credit score at approval and your payment history after that. Synchrony does not publish a single rate — you receive your rate in the approval letter and on your first statement.
If you pay your full balance by the due date each month, you pay no interest. If you carry a balance into the next month, interest accrues daily on the unpaid amount. The longer you carry a balance, the more interest you owe. A high interest rate on a credit card makes carrying a balance expensive compared to other types of borrowing.
The card may offer a promotional 0% APR period on new purchases or balance transfers for a limited time. These promotions are advertised at signup and appear in your cardholder agreement. After the promotional period ends, the regular variable rate applies to any remaining balance.
Annual fees and other costs
Both BP card versions charge an annual fee, though the amount and whether it is waived in the first year depends on the current offer. The fee is charged to your account once per year, usually on your account anniversary. You cannot avoid the fee by not using the card — it is charged regardless of activity.
There are no other regular fees for standard use: no foreign transaction fees are listed in most versions, no late fees beyond what federal law allows, and no inactivity fees. However, you do pay interest if you carry a balance, and you may pay overdraft fees if you link the card to a bank account and overdraw it.
If you close the account, the annual fee is not refunded for the current year. If you are unhappy with the fee, you can call Synchrony and ask if they will waive it or reduce it — some cardholders report success, though there is no may provide.
How to sign up and what Synchrony checks
You can explore for the BP credit card online at the BP website, at a BP gas station, or through Synchrony's website directly. The process takes about 10 minutes and asks for your name, address, Social Security number, income, and employment information. Synchrony runs a hard credit inquiry, which temporarily lowers your credit score by a few points.
Approval is usually when ready or within a few minutes. If you are approved, you can use the card when ready in many cases — Synchrony may issue a temporary card number for online or phone purchases while your physical card is mailed to you. Physical cards typically arrive within 7 to 10 business days.
If you are denied, Synchrony sends you a letter explaining the reason and your right to dispute the decision. You can request your credit report for free from AnnualCreditReport.com to see what information Synchrony reviewed.
How the card affects your credit score
Opening a BP credit card affects your credit score in two ways when ready: the hard inquiry lowers your score by a few points, and the new account lowers your average account age. Over time, the card helps your score if you pay on time and keep your balance low relative to your credit limit.
Payment history is the largest factor in your credit score — about 35% of the total. A single late payment stays on your credit report for seven years and can lower your score significantly. Carrying a high balance relative to your limit (high utilization) also hurts your score, even if you pay on time.
If you use the card responsibly — paying in full each month or keeping your balance below 30% of your limit — it builds your credit over time. If you miss payments or carry a high balance, it damages your credit and makes it harder to borrow money in the future at good rates.
When the BP card makes sense and when it does not
The BP card is worth considering if you buy gas at BP stations regularly and can pay your full balance each month. The rewards rate is competitive for a gas-focused card, and you avoid interest charges by paying in full. The annual fee is offset by the rewards if you spend enough on fuel.
The card is not a good choice if you carry a balance month to month. The interest charges will quickly exceed any rewards you earn. It is also not ideal if you rarely visit BP stations — a general cash back card with no annual fee would serve you better.
Before you explore, compare the current offer to other gas cards and general cash back cards. Rewards rates and annual fees change frequently, so what is best today may not be best next year. You can also call Synchrony to ask what rate and terms you would receive before you explore, though they will still run a hard inquiry if you decide to proceed.
Frequently Asked Questions
Can I use the BP credit card at other gas stations?
No. The card only earns the higher rewards rate at BP stations. At other gas stations and retailers, you earn 1% cash back (or the standard rate for that card version). If you need a card that works everywhere, a general cash back card is a better choice.
What happens if I do not pay my bill on time?
Synchrony charges a late fee (the amount depends on your balance and current terms) and reports the late payment to the credit bureaus. A payment 30 days late appears on your credit report and lowers your score. Payments 60 or 90 days late cause more damage. If you miss a payment, contact Synchrony when ready to discuss your options.
Can I transfer my BP rewards to an airline or hotel program?
No. BP rewards are cash back or statement credits only — they cannot be transferred to airline miles or hotel points. If you want to earn travel rewards, you need a different credit card.
What if I lose my BP credit card?
Call Synchrony when ready at the number on the back of your card or on your statement. They will freeze the card to prevent fraud and mail you a replacement. You are not responsible for unauthorized charges if you report the card lost before someone uses it fraudulently.
Does the BP card have a sign-up bonus?
Sign-up bonuses vary by offer and change throughout the year. Some promotions offer cash back or statement credits after you spend a certain amount in the first few months. Check the current offer on the BP website or Synchrony's site before you explore, as the bonus available today may not be available next month.