2RVers
Florida
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Went to the local Sunoco gas station to fill up my diesel truck, they no longer accept credit cards. All the pumps have the credit card area covered! They say they don't make enough money with credit card transactions!
Rob and Jet
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firedude
somewhere COOL!
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That might make it rough especially for full-timers traveling from area to area that they might not be familiar with eh? Do they accept a debit/check card though?
Thanks for the heads up!
Tony
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Southwind85
Where I Park
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That's crazy. With today's fuel prices you're asking to be robbed carrying enough cash around to pay for a tank full in a car, much less a RV.
Besides, the bank will likely turn you in to the DEA for withdrawing large amounts of $20's. I mean if you need that kind of cash, you're obviously buying illegal drugs.
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rob143
Carlisle PA
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The crazy part of all this is them expecting us, the consumer, to believe they've been eating the cost all these years. There is no way those fees haven't been passed along to us all along. I remember years ago seeing separate cash & credit prices with a 4 cents a gallon break for paying cash when gas was about a dollar a gallon. I recently saw a Tom's station off of 322 on the way to State College that was offering 5 cents a gallon off for paying cash. If credit cards were costing them money and the only way they made money was on cash sales they would have made no such offer. I call B.S. on this whole thing as a scam by the industry to con us into paying twice for the same fees. Any business accused of double billing would quickly lose any customer catching them doing it, except of course this industry rampant with corruption and selling a product we can't do without.
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MI Director
Michigan
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This is starting to be a nation wide trend. We're starting to see it here with a lower price for cash purchase and as much as .08 a gallon more if you use a major credit card. So far debit cards and oil company cards are not affected and are only charging more for major credit cards.
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2oldman
WA
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Southwind85 wrote:the bank will likely turn you in to the DEA for withdrawing large amounts of $20's. I mean if you need that kind of cash, you're obviously buying illegal drugs. What a sad commentary on life in the US. With all the problems we have, agencies like the DEA would actually have time to monitor ATM cash withdrawals.
Yeah right.
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pondputz
Hwy 7 Colorado
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Business that accept credit card purchases are required to have a good credit standing with the credit card companys (just like individuals do) to get good rates on processing fees and interest rates.
I am assuming, that some of the gas stations are running into trouble to keep current with their credit card companies.
The same thing happened with frontier airlines, when their credit card processors accessed a 100% fee on all credit card transactions, forcing them to file for chapter 11 protection.
It looks like an example of the credit crunch fallout happening
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JIH
Albuquerque NM
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.rob143 wrote:There is no way those fees haven't been passed along to us all along.
If you ever owned a business then you would understand that credit cards are really not your friend. Just one feature like "cash back" should tell you that taking extra money from the merchant and returning it back to the customer is not right. Cards giving this cash back certainly are passing the extra cost back to the merchant. There are also other concerns of competition and in businesses that run profits in the 7% range, paying 2 to 4% to someone on each transaction is difficult. In the time of gas doubling in price the cost of a transaction fee has also doubled without costing the card companies one penny more to transact. The gas stations averaged 10 to 12 cents a gallon profit (competition forces this) before the recent price jumps and they average the same now. However the credit card companies profits have more than doubled. That is why Mobil has recently put up all their gas station in the U.S. for sale. The retail gas station operator is not doing well right now.
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WTTCS
freedom , U.S.A.
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My take is a little different, since we took credit cards for years in our business.
They charge from .50 percent of the purchase , up to 7 percent. However, the businesses rolled that cost into the price, except for the cash price sellers. I have a couple of family members who still take ccs and they roll their cost into the price. But do they give a discount to the cash customers? Your kidding right?
Service stations and truck stops now are pricing their fuel on the futures market, NOT THE PRICE THEY PAID FOR IT. If they get 10,000 gallons today that will last them 2 days, they examine the futures price for delivery that 2 days from now will cost them , and that is price of the fuel in the tank today. So in effect, we the public are paying them to be in business.
Exon says they are getting out of the retail business cause they only make 4 cents per gallon, but they will not say what the station itself is making. Our local station says he is making 37 cents per gallon gross profit.
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firedude
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I do NOT want to turn this into a fuel debate thread or a financial debate of sorts and there is a thread/sticky in General just for that (fuel rants). Lets keep this an advisory thread. Things like this DO pertain to FT'ers as I stated above. Thanks!
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