Credit Card Fees Up Gas Prices

I've never seen a store charge more than the price listed at the pump. I did notice when I traveling on business yesterday that a store offered $.03 per gallon less if paid for with cash.

 

I hate to be the bearer of bad tidings, but...

Every business that takes credit cards charges you a fee in the basic price for the product you buy.

Credit cards are so prevalent that it's just considered a cost of doing business.

You even pay it when you pay cash since the vast majority of retail stores do not give a "cash" discount. Most, including fuel outlets, are not allowed to give you a cash discount.

Even if you wish to consider the debit card the same as cash, it does you no good.

 

I saw a fuel outlet that did so yesterday.

 

So? :tonofbricks:

 

You're going to have a hard time buying anything at all, then.

You might find this article informative.

http://banking.about.com/od/checkingaccounts/a/debitvscredit.htm

But it only address the processing fees. It doesn't mention the card fees built into almost every item you purchase anywhere, as just the cost of doing business.

 

ARCO has charged extra for years. American Express/COSTCO kicks back 2% on fuel purchases.

 

From the article:
But increased profit from credit card customers is not the only reason to raise prices for those who pay with plastic. As more people use cash to save at the pump, they are forced to come inside the store to pay, which creates another opportunity for the gas station owner.

"Because while you're in there, you're going to also pick up a coffee, a soda, maybe even a sandwich," Mount said.


I've always said that "pay at the pump" is a convenience that I appreciate, but from a business standpoint, it was probably the dumbest idea ever implemented by the industry. I wonder how much money they (convenience stores) have lost over the years by allowing customers to pay at the pump instead of coming into the store, where more than likely they would have bought something else in addition to the gas.

 

I'll try.

If you'll try a little harder to make your meaning clear.

Deal?:wavey: