cash/credit pricing for gas

[CCSTANG63]

my uncle owns a gas station, what it is, those gas stations have to pay a 10% fee for every credit card purchase someone makes on gas. So they are losing money. When you pay in cash thay get all they get more of a profit than they would with a credit card purchase

 

[little2v]

There is no way he is paying 10%. It's more like 1.3-1.9% for card present transactions.

 

[fastredgmc]

That's BS. It's something like 2.8% instead of 1.7%.

That being said, I use my AMEX everywhere and get points for doing so. At Meijer I don't even have to swipe my card. Just hold it in front of the pump for two seconds and start pumping.

might depend on the merchant you go through i know this for a fact used to be that the just charged a flat rate of 5 bucks or something. Most of my transactions are over $1000. we did quit taking amex for a while. he may have gotton a lower rate cuae hes taking them again buy i know amex is the highest

 

[mdhmi]

but I know AMEX is the highest

Yes, that's correct. It's pretty crappy from a merchant perspective, but terrific for customers. AMEX offers tons of great rewards and various other benefits such as extended warranties, insurance, etc.

I can't speak for gas stations, but I know the Thai joint across the street said AMEX was 2.8% instead of 1.7%.

 

[little2v]

My merchant account for AMEX is 3.5%

 

[Swifster]

Swifster, it's not a discount, but they call it a discount. It's semantics so they don't get in trouble with the merchant provider.

I understand the semantics. But call it what it is.

 

[Joe]

my uncle owns a gas station, what it is, those gas stations have to pay a 10% fee for every credit card purchase someone makes on gas. So they are losing money. When you pay in cash thay get all they get more of a profit than they would with a credit card purchase

That seems pretty high. Who charges this 10% fee?

 

[Bishop]

I use a Sunoco card and they charge me the same and I get a percentage back (like 4% I think). Shit adds up fast! You can get them for most major gas companies too, but I found Sunoco has the biggest discount. BP has 5% but it is only for a few months.

-Geoff

BP is a 10% intro on fuel and then 5% there on. It also has 1-2% back on reg purchases.