Cash or Credit/Debit?

[dbacks fan]

I'm curious if some of the conveneince stores there are offering a discount price if you pay cash for gas. Out here it started with Valero stations offering either 5 or 6 cents a gallon cheaper than using a credit/debit card. The price is the same as or just below Sam's Club and Costco. I have actually started carrying cash to buy gas, or go to my bank's ATM (no service charge) and getting cash to pay for gas. Right now I'm saving about $14 a month and my wife is saving just over $20 a month.

[Michael71]

I don't think they do that any more.  I haven't seen it anywhere in a while.  The gas stations really don't make alot of $ on gasoline.  About 2-3 cents on average.

http://www.slate.com/id/2100546/

[dbacks fan]

What the stations out here are doing is trying to save on the fees they pay everytime some one uses a credit card. AM/PM Arco out here tags on a 45 cent charge if you use a credit or debit card.

[Michael71]

Exactly!!!  This is why most places give you the option to enter your PIN when using a debit card...they get charged less...much less!!!  Most will make it look like you HAVE to enter your PIN, but you can just hit cancel & it will process as a credit card.  This is also why you will see small businesses have a minimum amount to use a card.

Wal-Mart had a huge hand in this because of their lawsuit.
http://www-tech.mit.edu/V123/N22/debit_22.22w.html

If you have ever tried to use a credit Visa/MC @ Sam's...it's impossible.  You can use your debit card & enter your PIN, but not a credit card other than AMEX & maybe Discover.

I HATE entering my PIN because of the security factor.  Cameras could be watching, crooks, etc...

I am ashamed to admit it...but, out of spite to Wal-Mart, I always hit cancel & run it as a credit card.(although I rarely shop there).  If it's a company I respect, I will enter my PIN.[:I]

Credit card companies also charge more to the merchant if the card is not physically swiped through the reader.(i.e.--your mag stripe is ruined)  Pizza places that deliver & take your credit card info over the phone have battled this because there is almost never a physical card involved.

[Red Arrow]

If I am at a locally owned store, I will ask if they want a check or credit card. Mostly they say either one. They may be afraid of an undercover check by the credit card companies. If I can, I write a check to let them avoid the CC Co charges.

[TheArtist]

quote:Originally posted by MichaelWayne_71

Exactly!!!  This is why most places give you the option to enter your PIN when using a debit card...they get charged less...much less!!!  Most will make it look like you HAVE to enter your PIN, but you can just hit cancel & it will process as a credit card.  This is also why you will see small businesses have a minimum amount to use a card.

I think you have it backwards. You get charged more when you use a credit card versus when you use a debit card. Most places I have been to the default seems to be the credit card and they charge you for using it. Some places, even if you use a debit card and you push credit card, you get charged more. You want to use your pin so you dont get charged the credit card fee.

[Hoss]

quote:Originally posted by TheArtist

quote:Originally posted by MichaelWayne_71

Exactly!!!  This is why most places give you the option to enter your PIN when using a debit card...they get charged less...much less!!!  Most will make it look like you HAVE to enter your PIN, but you can just hit cancel & it will process as a credit card.  This is also why you will see small businesses have a minimum amount to use a card.

I think you have it backwards. You get charged more when you use a credit card versus when you use a debit card. Most places I have been to the default seems to be the credit card and they charge you for using it. Some places, even if you use a debit card and you push credit card, you get charged more. You want to use your pin so you dont get charged the credit card fee.

Problem with that is, not all banks are networked for debit.  I switched from Bank of America to Bank of Oklahoma.  BOA was networked for debit, so when I payed for my gas at the pump, if I pressed debit it would ask for my pin.  BOK doesn't do that and it's a little bit of a pain.

Oh well...I don't get charged extra, at least so far.

[cannon_fodder]

I think the only way you can save now is by using THEIR credit cards.

[TheTed]

The first few times I tried to use my BOK card I was very confused. I'd enter my pin and it'd deny me. Every other bank I've had allowed me to use my debit card as a debit card.

I guess BOK wants to make sure I pay their ATM fees when I'm out of town instead of letting me go to Walgreens, buy a pack of gum, and get cash back.

[Wilbur]

Oklahoma (one of ten states) makes it illegal to charge more in a transaction when someone chooses to use a credit card.

Nothing says the store has to accept credit cards, but if they do, they are prohibited from charging someone more for using the card.

Look at Title 14A, Article 2, Section A:

"No seller in any sales transaction may impose a surcharge on a cardholder who elects an open-end credit card account instead of paying by cash, check or similar means."

[Nick Danger]

quote:Originally posted by Wilbur

Oklahoma (one of ten states) makes it illegal to charge more in a transaction when someone chooses to use a credit card.

Nothing says the store has to accept credit cards, but if they do, they are prohibited from charging someone more for using the card.

Look at Title 14A, Article 2, Section A:

"No seller in any sales transaction may impose a surcharge on a cardholder who elects an open-end credit card account instead of paying by cash, check or similar means."

Interesting -- I have a small business that I purchase goods using a CC because it is easier for me to pay one bill a month than 10-20 small ones going to different vendors. Some of them charge a "lost cash discount" to use the CC instead of open account or COD. I guess this is how they get around the CC companies' policy of no surcharge for CC usage.

[Hoss]

quote:Originally posted by Wilbur

Oklahoma (one of ten states) makes it illegal to charge more in a transaction when someone chooses to use a credit card.

Nothing says the store has to accept credit cards, but if they do, they are prohibited from charging someone more for using the card.

Look at Title 14A, Article 2, Section A:

"No seller in any sales transaction may impose a surcharge on a cardholder who elects an open-end credit card account instead of paying by cash, check or similar means."

If that's the case, I know of one place in town (at least it did last time I checked) that is charging a 50 cent fee, and tells you as much, when you use a credit card.

Freddies on 11th at Mingo Creek is doing this.  Are they breaking the law?

[Radio]

quote:Originally posted by MichaelWayne_71

If you have ever tried to use a credit Visa/MC @ Sam's...it's impossible.  You can use your debit card & enter your PIN, but not a credit card other than AMEX & maybe Discover.

I am confused.  We have company Mastercards, and
they get used all the time at Sams.

[Wilbur]

quote:Originally posted by Radio

quote:Originally posted by MichaelWayne_71

If you have ever tried to use a credit Visa/MC @ Sam's...it's impossible.  You can use your debit card & enter your PIN, but not a credit card other than AMEX & maybe Discover.

I am confused.  We have company Mastercards, and
they get used all the time at Sams.

Sam's only accepts Discover.  That is because they have a deal with Discover.  While you normally get 1% cash back on purchases, you only get 0.25% cash back when you use your Discover at Sam's.

[naenae42day]

quote:Originally posted by Wilbur

quote:Originally posted by Radio

quote:Originally posted by MichaelWayne_71

If you have ever tried to use a credit Visa/MC @ Sam's...it's impossible.  You can use your debit card & enter your PIN, but not a credit card other than AMEX & maybe Discover.

I am confused.  We have company Mastercards, and
they get used all the time at Sams.

Sam's only accepts Discover.  That is because they have a deal with Discover.  While you normally get 1% cash back on purchases, you only get 0.25% cash back when you use your Discover at Sam's.

That is no longer accurate.  You can use your any CC or your debit card.  It has been this way for several years.      

PER THE SAMS WEBSITE.  The last line really only pertains to AMEX.  Since they accept debit, adn most debit are VISA.  

Which forms of payment are accepted online at samsclub.com and which are accepted In-Club?
   To purchase with samsclub.com, you may use a Sam's Club Credit Account, Wal-Mart/Sam's Club Shopping Card, Check, Discover®, Visa, MasterCard® or American Express®. To purchase at a Sam's Club location, you may only use either a Sam's Club Credit Account, Discover®, MasterCard®, Debit Card, Shopping Card, Cash or Check. American Express and Visa are not accepted for In-Club purchases.