1 point per eligible net $1 spent anywhere2 Mastercard is accepted. 2 points per eligible net $1 spent on purchases made inside Fred Meyer stores. Rewards are sent automatically every quarter. Earn 500 Rewards Points and get a $5 Rewards Rebate to spend at Fred Meyer. Save up to $1.25 a gallon at Fred Meyer Fuel Centers3 for ONE YEAR when you redeem up to 1000 Fuel Points and you scan and pay with your new Fred Meyer Rewards® World Mastercard . It's two cards in one - Rewards Card and MasterCard.