Credit, Debit, or Cash, for fuel????

[MR.M]

Originally Posted by aceinspp

Now here is a good one. The new Mercedes stadium here in Atlanta is now only going to take credit cards at consesion stands. Wonder how that's going to work when I present them with cash and they refuse to take it as it stated on the currency legal tender. Should get interesting. Later RJD

I'd like to see how that works to no cash . not everyone carries debit or credit cards and cash is always king . don't see how they could refuse it . but if you're bill came to $15 and you only had a 20 they may not be able to make change .

[babock]

Originally Posted by MR.M

I'd like to see how that works to no cash . not everyone carries debit or credit cards and cash is always king . don't see how they could refuse it . but if you're bill came to $15 and you only had a 20 they may not be able to make change .

My 85 year old mother only carries credit cards for the most part. She doesn't need or want to go to an ATM or bank to get cash all the time.

The only people I know that use cash are the ones that get under the table cash for jobs. Only time I get cash is that some times my renters pay me in cash. I can't even remember that last time I used an ATM.

[Iwritecode]

Originally Posted by D W

We avoid all of those stations that have two tier pricing. It's a gimmick for them to make more money. They already have their profits calculated in their cost of goods, and now they want to make a little extra. Ask yourself this, if credit card processing was that much of factor, then why is fuel cheaper at other stations that don't charge for credit card usage? There are many other fuel options out there to play their game.

On a side note, we have a local restaurant that recently began charging an extra 2% if you pay with credit card. Within a month their business dropped off 50%.

One interesting thing about gas stations is that they really don't make much money off the sale of gas. They make the majority of their money off the stuff you buy inside the store. Candy, beer, cigarettes, food, etc... That's why their prices are marked up so high. The money for the gas goes to whatever oil company's name is on it. BP or Mobil or whatever.

Movie theaters are the same way. They make most of their money from the concession and very little from the actual ticket sales.

[mlmay12]

Originally Posted by babock

I get 4% back using my credit card. The difference is almost always less than 4% so I always use a credit card.

Yep, Costco Visa Card gives 4% cash back. More than covers the price difference between Cash and Credit. $240 back this year.

[jtesta1]

If you need exercise and are a tightwad ,pay in cash. If a buck or two aint gonna break your bank. If you don't want to carry a bunch of cash .if you like convenience, use plastic. Become a good sam member and get fuel discount at flying j and pilot fuel stops.

[LI Guy]

Originally Posted by mjones12

I never use cash. Better for others if I avoid having to go inside to pay.

Also avoid restaurants that don't take cards. And I can leave a better tip when I don't have to rely on how much cash happens to be in my wallet.

Same for me......

[Cabinfever97]

Originally Posted by breezyhillfarm

I would never have a debit card because of the risk of having the account wiped out and not being able to regain the money.

I also get points for the Visa card use, which would defray any additional fuel cost for credit.

I would only use cash if they didn't accept credit and I had no other options.

We started using nothing but a credit card for purchases about 5 years ago, for both home and business. I really didn't want to since I know the cost to merchants, but fraud with a CC is a lot easier to deal with than a DC. Either one you wont likely be liable for fraud. However with a debit you will need to wait to get your cash back until the banks figure things out. May take them a few days to weeks. Until then you are out your cash. With a CC you can freeze the account with the old numbers and have a new card in a couple days and you are not out the cash while they figure out the fraud. At the end of the month the accounts are paid to zero and we accumulate the rewards. Just have to "play the game" for the best results for yourself.

[Reverse_snowbird]

We use credit cards for gas and most everything else. Pay it off every month. If you get a bad tank of gas, you've got proof of purchase. We'd lose a cash receipt.
However, if the charge for credit cards is too high, we will pass the station by.
We carry some cash for emergencies, but usually return home with most of the cash.

[lcv800]

Foolish to use debit as too many skimming machines that steal account information, making it extremely difficult to get your money back from the bank if even possible; cash is a PITA as you have to go into the station. Cash back on credit card only way to go.
Rusty

[Iwritecode]

Interestingly enough, doing the calculations to see the difference between getting the cash discount at the station and the percentage discount from a credit card is pretty small. Of course it varies depending on what numbers you plug in but over all it's usually only a couple of bucks difference at most.

So assuming the following:
gas = $2.50/gal
cash discount = .05/gall
credit card discount = 4%
total amount of gas purchased = 20 gallons

Buying with a credit card you'd spend $50 and with the 4% discount you'd save $2 so you'd spend a total of $48.

Buying with the cash discount you'd pay 2.45/gal and 20 gallons would be $49.

So it's a total difference of $1.

[babock]

Originally Posted by Iwritecode

Interestingly enough, doing the calculations to see the difference between getting the cash discount at the station and the percentage discount from a credit card is pretty small. Of course it varies depending on what numbers you plug in but over all it's usually only a couple of bucks difference at most.

So assuming the following:
gas = $2.50/gal
cash discount = .05/gall
credit card discount = 4%
total amount of gas purchased = 20 gallons

Buying with a credit card you'd spend $50 and with the 4% discount you'd save $2 so you'd spend a total of $48.

Buying with the cash discount you'd pay 2.45/gal and 20 gallons would be $49.

So it's a total difference of $1.

Yep..but its cheaper and you still got the convenience of using the credit card! Win Win!

[spock123]

Originally Posted by babock

Costco credit card limits you to 70 gallons when paying with their credit card in order to get the discount. Of course that is easy to get around. Just stop at 70 gallons and start a new transaction! I do that when filling my boat and truck at the same time.

Doesn’t Costco require you to be a member?

[Iwritecode]

I'm leary of using credit cards because one time I used one at a gas station and apparently when I put the nozzle back in it didn't reset the machine or whatever. So when the next person came in, their amount got charged to my card. I ended up paying for like 50 gallons of gas when my car only held like 15.

Of course I was in a hurry and didn't get a receipt so I had no proof of it either. The gas stations owners were no help and I even disputed the amount with my CC company and still got nowhere.

Then there's all the credit card skimmers that you hear about on the news...

There are pros and cons to both ways.

[AZ Pete]

Originally Posted by spock123

Doesn’t Costco require you to be a member?

yes, but many are already Costco members....one other benefit with Costco, is their own gas stations. Currently the Costco price is about $.20 less than local gas stations, not counting the 4% rebate. This is the biggest price gap I can recall, but it has been about that for the past many months.

[MCTroy]

Never, ever use a debit card. That can give a scammer access to your brand account. Number 1 place for fraud is bad stations. Credit cards are much safer. And CHIP enabled cards are lowering merchant processing costs.
Leave the debit cards at home. And please, if you are playing by cash, don't tie up the pump!

[spock123]

We don’t shop at Costco or Sam’s as there is just the two of us. We don’t ever buy in bulk. I can shop at the base commissary but I hardly ever do. We only have so much room in the camper besides the closest Costco is like sixty miles away, Sam’s is closer but just not worth it for us

[Bill and Gail]

Originally Posted by AZ Pete

yes, but many are already Costco members....one other benefit with Costco, is their own gas stations. Currently the Costco price is about $.20 less than local gas stations, not counting the 4% rebate. This is the biggest price gap I can recall, but it has been about that for the past many months.

You don't have to be a member to purchase gas at a Costco in NJ, but they only accept cash or VISA.

[aceinspp]

Originally Posted by babock

I like getting my large credit card rebates at the end of the month. 5% back on Amazon, 3% back at restaurants, 4% back on gas. I pay my home and car insurance with a credit card and get 2% back! Dangerous? That is hilarious! If you have a charge that you didn't make, you call the credit card company, they take off the charge and issue you new cards.

Way more dangerous going to an ATM and withdrawing money. More danger from the homeless meth addicts preying on people withdrawing cash from the banks and ATMs.

If you have any bit of self control, you pay the same amount at the end of the month whether you use cash or credit. Just pay off your credit cards in full every month. I have never left a balance on a credit card my entire life.

Yes...they will throw the food away.

Folks like you will get hammered some day. Good luck with all those credit cards. Nothing free you paying for the cash back. Later RJD

[AZ Pete]

Originally Posted by aceinspp

Folks like you will get hammered some day. Good luck with all those credit cards. Nothing free you paying for the cash back. Later RJD

How so RJD? Credit cards are just fine, so long as you do not carry a balance. The rebates are a bonus for choosing one card over another.

[Alabama Potter]

Originally Posted by aceinspp

Now here is a good one. The new Mercedes stadium here in Atlanta is now only going to take credit cards at consesion stands. Wonder how that's going to work when I present them with cash and they refuse to take it as it stated on the currency legal tender. Should get interesting. Later RJD

Interestingly enough, a local branch of Wells Fargo no longer accepts cash deposits nor gives cash withdrawals- they send the customer to the ATM. Apparently there has been an issue with cash embezzlement by bank employees. Cards are the way we roll here at our house for EVERYTHING. In addition to ease of use we get an itemized statement of transactions.