Will gas stations stop taking credit cards?

I read this article on line this a.m.  Very interesting - I had never thought about it.  I sent it to my sil  and one of his comments was that he couldn't remember how long it had been since he made 10 cents a gallon profit - but that yes - the credit card companies are taking a huge bite.  He said he couldn't imagine not taking them but he did understand why some stations have stopped.  Read this.

http://rapidcityjournal.com/articles/2008/06/19/news/local/doc4859baf9d49eb760283530.txt

I didnt read the article, but I don't even have a CC. I would die,,JUST DIE without my debit card. I use it for everything. Hope they dont stop taking that.

Roen1969:

JUST DIE

 

You wouldn't.

 

I use mine alot too, but there are many local businesses here that don't accept them because of the fees. We don't accept them in our business.

I have always paid in cash or, when we travelled we used travellers checks. Most people here pay  cash. 

The farmers who get gas from the Cenex station and are Farmers Union members  have a Farmers Union credit card (which would be like having a Sears credit card) and they pay less interest and the company processes it's own, most likely for just a few pennies.

In our community there is a small gas station where it cost the guy $140,000 last year to accept credit cards and as a result he will have to close up or decline the use of c.c's. That is sad, credit companies are as bad as the big oil companies. They are ripping people off too big time.

hidecogal:

In our community there is a small gas station where it cost the guy $140,000 last year to accept credit cards

 

If you figure an average discount rate of around 3%, that small community gas station in your town ran about $5 million of charges through last year.  Don't feel too sorry for them.

I don't know, but, the hospital where I went for my bone density test the other day, must not take much cash.

 

I was going to pay my co pay for it, it was 15.00.  I first gave her a 50.  She asked if I had change.

 

I had some 20's from my own money, so, gave her a 20.  No, she needed exact change. She didn't even have five dollars in change!  I said, nope, that is it.  She said they would bill me.

I do know that someone I know has a son who has a gas station and they make about 8 cents or less per gallon of gas.

Also c.c companies usually charge about 5% or more of the purchase including the sales tax to the store owner, plus a fee for each time you swipe a card which was 11 cents back in the 80's , so it must be more by now. I know this because I used to take c.c.'s and it would take a good hunk of my profit. I wish I could remember exactly but I don't . All I remember is it was too much that I stopped doing it and now the company I am a independent contractor for pays it. Plus they charged a monthly fee or a yearly fee on top of everything else they charge for.

That is one thing credit card companies can be sure of, income from merchant's fees. So many people default on their cards, run up big sums and then go bankrupt, and the rst of the people have to pay for it.

I seldom use my low limit credit card, only if I absolutely have to  when I order some small stuff I can't get here, it gets paid off as soon as I get the buill because I sure don't want to pay any interest. For everyhting else I pay cash and  send  check to pay  the utility and other monthly bils.

The other day at the grocery store the clerk asked me debit or charge---I said debit.

She made the comment you can't believe how many people are now charging their groceries and how ugly it is going to get soon for all of these people "charging" food and gas.

Unfortunately with the prices of both going up people can no longer survive on their pay checks but in the end it is only going to get worse with the interest rates and continually charging everyday needs

I have an Exxon card and a Citgo card and mostly use these for gas purchase. Never use a Visa or Mst. Card for gas. Both of these companies have no intention of giving up their card purchases.

I can't see that happening.  The Credit Card is the only way some can pay for gas.  It's become almost the same as a car payment for some.  Also, when we travel we don't carry $100's of dollars to pay cash for gas.  I'm not big on carring large amount of cash.  They would really have to drop the price of gas for me to pay cash like I did back in the 70's before credit cards and debit cards.

"
“That would just create a lot more customers inside,” he said."

Think of the amount of cash that would be in the stations.  Roberies would increase at stations and maybe go down at banks.  LOL

coacheswife:

The other day at the grocery store the clerk asked me debit or charge---I said debit.

She made the comment you can't believe how many people are now charging their groceries and how ugly it is going to get soon for all of these people "charging" food and gas.

 

I always say credit when asked so I don't get hit with the occasional 1.00, 2.00 fee to use my money which happens when I say debit. 

I use a credit card only for the perks and when we travel as some places in the world won't take travelers checks anymore > We wen't to Leon, Mexico a few years ago and they would only take cash. So we went to a bank and tryed to cash a travelers check but even the bank didn't want to cash it. We were in there an hour waiting while they verified it with the travelers check company. I started getting up set and the cashier said, ' well leave it here and come back tomorrow we should know by then', and I said '' absolutely NOT''. Finally she agreed to cash it without verification after more waiting..

We have a gas card and another major card. If it wasn't for the perks I wouldn't have one except for traveling. The gas card we get 3 cents off a gallon and later we also get 5% off the  total in a free gas card, which is about 4 or 5 times a year. The other card we have for miles perks and have taken 3 0R 4 trips or more since 2001 which the airfare was free and we have banked right now enough to have 2 more trips by air. It is my husband and myself each time.

I put everything on it that I can possibly do. It also saves us money on checks, stamps and envelopes to send out our payments to different things including our medical payments.Also saves us time.