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High Gas Prices and Hidden Credit Card Fees

Posted Jul 14 2008 9:14am

We are in love with the convenience of paying with credit cards, especially when it comes to paying for gas because most of us are too lazy to walk the 3 feet to pay inside.

I admit, I’m guilty of it. But nowadays I pay at the pump because I don’t want to see my hard-earned cash disappear before my very eyes to pay for crazy expensive fuel costs. I’d rather get angry in the privacy of my home when I open up the credit card bill.

That’s why I felt I should tell you about a hidden credit card fee that might just literally “fuel” you with anger when you’re fueling up your vehicle.

I recently read astory onNewsDay.comabout a man named Peter Jespersen who was filling up his gas tank with what was supposed to be $4.29 a gallon, but since he used his credit card he found out he was charged 10 cents more per gallon!

What he didn’t realize was that the main gas station sign posted that the $4.29 was only if you paid for cash.

Peter, along with many other disgruntled gas consumers, are angry about this, but apparently it’s totally legal for gas stations to do this.

Credit card fees add an average of 3 percent in costs to station owners for each transaction. To make up for this fee, station owners may not charge you more for credit purchases, but they candiscounttheir cash purchases.

Pretty slick, huh?

This is straight form the article: “A gas station’s street sign can advertise the lower cash price without stating the higher credit price, as long as it says “cash” alongside the price, and as long as the prices for both credit and cash are displayed in smaller signs atop each pump.”

I think by “smaller signs atop each pump” they mean barely visible for even a fruit fly to see, because I’ve never seen one.

So now that you know, you should always look for the cash and credit prices whenever you use your credit card to pay for gas.

Or you could be like Samuel L. Jackson:

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