Hidden Fees At The Pumps
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In a recent news piece, ABC News did an investigative report that showed that many gas stations were charging more money to those customers who used a credit card to pay for the gas, as opposed to those who paid in cash. The following video clip sums up the story nicely and sheds some light as to why this practice was developed in the first place.
You can view the video interview here. Use the comment section to let us now what you think about this new policy and if you think it is justified or not. Also, make sure to sign up for the RSS feed so you don’t miss any new content here at Real World Really.
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It’s complete BS, but a ton of our local gas stations have signs posted saying “$8.00 credit card minimum.” I guess they are just trying not to lose money on merchant fees BUT it’s not our fault they didn’t get a fair deal. I know there are tons of merchant acct companies that only have a 20 cent charge + 2% … a $3 or $5 minimum would be much more fair. Just my 2 cents.
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Credit Card minimums are certainly very annoying, and something I imagine we’ll all have to deal with since it doesn’t make sense for the merchant to take a hit on fees from the card companies on very small purchases. That being said, I agree that they could be lower and wish there was a way around them all together.
I actually read somewhere recently that it’s technically against almost every major credit card company’s policy for merchants to impose a minimum order amount for credit card transactions. So if you do come across one somewhere and they give you a hard time about it, don’t hesitate to call them on it.