Charging an EV? Get Cash Back from Your Credit Card

Sam’s Club® Mastercard®

If you’re a member of Sam’s Club, consider this card for the 5% cash back it provides on up to $6,000 spent each year on EV charging or gas. After that, you earn 1% back on charging.

Sam's Club and Walmart plan to install a network of fast chargers across the country, in addition to the almost 1,300 already installed by 2023.

Cash back is redeemable only at Sam's Club stores or at Sam's online site, so be sure you can spend enough at Sam's Club to make the rewards worth it.

Membership:  Anyone can be a member of Sam's Club; it costs $50 annually for a Club membership or $110 annually for a Plus membership. Through January 31, 2024, Sam's Club is offering new Club membership at 50% off, for $25.

Interest rate: 20.90% or 28.90% variable APR as of August 1, 2023.

Annual fee: None

Costco Anywhere Visa® Card By Citi

Members of Costco Wholesale can apply for this card, which provides 4% cash back on up to $7,000 per year spent at EV charging and gas stations. 

If you want easy access to your cash rewards, this is not the card for you. Cash back is released to cardholders at the end of February each year, and you can lose your rewards if you close your account before February. 

These drawbacks likely won't concern loyal Costco customers.

Membership: Anyone can be a Costco member; the cost is $60 annually for a Gold Star membership or $120 annually for an Executive membership.

Interest rate: Variable APR of 20.49% for purchases and balance transfers.

Annual fee: None for Costco members, but see annual membership fees.

Bank of America® Customized Cash Rewards Credit Card

This card offers the most cash back for EV charging — up to 5.25%, but there's a catch. First, after spending $2,500 in a quarter, you will earn only 1% back. Second, you must qualify for the bank's Preferred Rewards® program to get a rate higher than 3% back. Preferred Rewards Members earn 25% to 75% more cash back on each purchase made with the card, depending on their rewards tier. Tiers depend on maintaining a certain combined balance on Bank of America accounts, starting at $20,000. Bank of America's savings account rate is below 0.1%, so you'll likely do better opening a high-yield savings account with a different bank and using one of the other credit cards profiled here. 

Cardholders who don't qualify for Preferred Rewards get 3% back on EV charging. 

Sign-on bonus: New cardholders get $200 as a statement credit.

Interest rate: 0% for 15 billing cycles for purchases and select balance transfers, then 18.24% - 28.24% variable APR.

Annual fee: None.

U.S. Bank Business Altitude™ Connect World Elite Mastercard®

This card from U.S. Bank is tailored to businesses that rely heavily on travel. It offers 4% cash back on EV charging up to the first $150,000 spent in that category. 

You also earn 5% back on hotels and rental cars, and 4% on travel, including airfare and gas, for example. You earn 2% on dining, takeout, restaurant delivery and cell phone services and 1% for all other purchases.

Sign-on bonus: Earn 60,000 points worth $600 if you spend $6,000 on the Account Owner's card in the first 180 days of opening your account.

Interest rate: 20.24% to 28.24% variable APR for purchases and balance transfers.

Annual fee: None the first year, then $95.