Monday, May 21, 2012

Evil at the Gas Station?

If high gas prices were not enough to make you go broke during you summer vacation you better double check how you are paying for your gas. Many gas stations have starting charging $1 or $2 more for customers paying with credit cards. Ouch, just another good reason why you should pay with cash or debit. Some gas stations are not advertising these charges very clearly, so check the fine print at the pump before filling up the car. If you don’t have cash on hand and are low on gas it might be cheaper to hit the ATM and pay the 1 time surcharge then the $1 per gallon additional charge.

This increase is due to the banks charging the stations a swipe fee for the use of the credit card. The charge is a percentage of the total sale, so as gas prices rise, so has the cost to use plastic. So the Evil isn’t really at the gas station it could be what’s in your wallet.

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