Posted by: thescoundrel | June 18, 2008

Paying at the Gas Pump – Cash No Credit Card


As gas prices rise a new problem is creeping into the picture. Some gas stations are considering a No Credit Card Policy due to the system used by credit card companies in determining the vendor merchant fee totals to the station for using credit card services. Eventually you may need to carry cash to purchase gas. According to an AP article by Tom Breen, the rise in fuel costs has created a situation where the cost of doing business with credit card companies is wiping out the profit margin of each gallon of gas sold. Some stations are rebelling at the costs and are no longer accepting credit cards. Ouch!!

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Responses

  1. If you dash into a convenience store, don’t leave the motor running. While waiting to pick up the children at school, don’t idle in the long pickup line. Park the car and walk over to pick up the children. You’ll also get some exercise.

  2. I hope this doesn’t become wide spread. I always pay for gas by credit card.

    Since it costs 50-60 bucks to fill up, there is no way I would have that amount of cash on me—a little old lady like me would be a prime target for thugs, thieves and robbers! 😀

  3. I imagine most people do not want to see it spread. I know I do not. I do not use credit cards but I do use my Visa debit card to purchase most things like gas. I am not a prime target for thieves but I do not like to carry over $20 in my wallet, so at $4 a gallon my gas purchases would be limited without the use of my debit card. Plus my pooches would be real unhappy since after buying 5 gallons of gas I would not have a dollar left over to purchase them a meat stick each. 😦

    That said unless Credit Card companies and Gas Stations can get together on the same page I would expect to see the policy expand. It would not surprise me if Big Name Petroleum company private credit cards stepped up and became popular again if the Major Credit Card Companies don’t figure something out. I do not mess with dealing with Credit Card companies anymore but when I did most Retail Companies I knew fussed over the usage fees —> especially from American Express. Their charges were always more exorbitant to the retail companies than other CC companies.


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