As if the excitement over yesterday’s Container Store credit card news wasn’t enough, there’s another new credit card to report: Here comes the Wawa credit card!
To those of you who don’t live in its footprint, Wawa is a convenience store / gas station chain in the mid-Atlantic and Florida. If you’re curious about the name: according to their website, “‘Wawa’ is a Native American word for the Canada Goose that was found in the Delaware Valley over 100 years ago.” I grew up near Philadelphia, so Wawa’s “We do it just a little bit better” jingle is indelibly etched into my mind along with the Tastykake song. (Nobody bakes a cake as tasty as a Tastycake.)
The new card is nothing special. It’s a store card, so no purchases outside of Wawa. The card offers 25 cents per gallon rebates for the first two months and 5 cents per gallon thereafter. The maximum rebatable amount of gas is 100 gallons per month, so it’s $50 if you max out the intro promotion. I really can’t see much rationale to anybody having this thing. As always, the baseline is a 2% cashback credit card, and you’d definitely be better off with one of those vs. the Wawa credit card.
What’s interesting is that the card isn’t being issued by Comenity or Synchrony but by Citi Retail Services, the private label credit card arm of Citibank. Everybody’s familiar with Citi’s credit card bounce-back this year, but their private label business is also making moves as they recently acquired the Brooks Brothers portfolio. Citi is building up quite a portfolio of retail credit cards. They now have the Best Buy card and they’re taking over the Costco card as well. If you’re a retailer, it’s a good time to either launch a card or shop for a new issuer for your existing card.