Debit vs. Credit Cards

[goeduck]

Everything went downhill when a Gasamat gas station came to town. Google image.

 

[Hay Dude]

About 15 years ago a gas station near me that I used to go to on a regular basis put in new pumps with "pay at the pump" . a few months later they turned that feature off. Once when I went in to pay which ticked me off because after dark it was prepay, I asked why they didn't have it and they said it cost them over $2k of profits/wk on in-store sales. They only lasted a couple of more years because the convenience of not having to go into the store twice at other stations was well worth the penny or so price difference. I would think in gas the increased sales as well as the theft reduction would make "pay at the pump" a requirement because you could pay with a card just no at the pump.

I also found it very interesting on how many cannot control themselves and once they get in the store they have to buy something.

Those are called “children”.
And probably a few adults.
Never ceases to amaze me the “science“ of marketing behind placement of the best selling snacks right there at the register. I love Goldenbergs Peanut Chews. They always have them there at the register. THREE BUCKS now for them. Seemed like they were .99 cents about 5 years ago.
Now ya got me all worked up about inflation….again!!

 

[Torvy]

About 15 years ago a gas station near me that I used to go to on a regular basis put in new pumps with "pay at the pump" . a few months later they turned that feature off. Once when I went in to pay which ticked me off because after dark it was prepay, I asked why they didn't have it and they said it cost them over $2k of profits/wk on in-store sales. They only lasted a couple of more years because the convenience of not having to go into the store twice at other stations was well worth the penny or so price difference. I would think in gas the increased sales as well as the theft reduction would make "pay at the pump" a requirement because you could pay with a card just no at the pump.

I also found it very interesting on how many cannot control themselves and once they get in the store they have to buy something.

I only 'have' to buy something if I stop to use their bathroom without needing gas. Always feels wrong to me. Intellectually, I know I will most likely patronize them in the future and it will all work out in the wash.

I suppose if that gas station owner did the math well, they could have had a 'pay inside' discount. Some people cannot pass up a lower price, even if it amounts to a net of 10 cents on a tank of gas. That way, those who cannot be bothered are not, but more foot traffic comes inside.

 

[WM75Guy]

What cards do that? Many cards will do quarterly promotions and give higher cash back (usually 5%) for certain retail categories (ie-fuel, supermarkets, etc.) but those change every 3 mo.

BOA lets me choose my reward category. Gas is 3% plus I get an additional bonus of 2.25% for my BOA Rewards status, total of 5.25%. Everything else is 1% plus a 0.75% Rewards bonus. After using their analysis tool, I switched categories to online shopping as our purchasing habits have changed.

 

[Hay Dude]

BOA lets me choose my reward category. Gas is 3% plus I get an additional bonus of 2.25% for my BOA Rewards status, total of 5.25%. Everything else is 1% plus a 0.75% Rewards bonus. After using their analysis tool, I switched categories to online shopping as our purchasing habits have changed.

Thats a good credit card deal, but I would rather stick my money under my mattress than give it to Bank of America.

 

[Torvy]

Capital One Savor card gives you 1% on everything, 3-4% on dining out and streaming services, and entertainment. 3% on groceries.

Or you can get Quicksilver and get 1.5% on all purchases.

Full disclosure, I worked for the company for 13 years (not in card division). Even though they technically laid me off, I do business with them and recommend them to others. The internal controls really are there to help customers. I've worked for other big banks and would not say the same about them.

Discover has similar deals with as high as 5% on certain purchases. I've carried their card since 1989.

 

[Peter 315]

PayPal master card 2% cash back on everything...

 

[WM75Guy]

Thats a good credit card deal, but I would rather stick my money under my mattress than give it to Bank of America.

They were the first bank I ever did business with many, many years ago. They have done mortgages, vehicle, and personal loans for me and I never had any issue, although others have had issues. I still do BOA rather than switch, as I now do investments through Merrill Lynch. It is nice having it all on one screen.

 

[Sprinkler Fitter]

Maybe where you are. One of the major distributors up here is the Irving Oil company, based in Canada. If you use their debit card you will save 10 cents per gallon.

I've already expressed my viewpoints on debit cards, and there is no way I am going to allow them access to my accounts that way.
Tonight I was going to fuel up at a chain which carries their gas; I noticed that it was actually 20 cents less per gallon than if I used their company debit card.
I turned my blinker off and kept driving until the next town where I fueled up at a Shell station. (Same convenience store chain.)
It cost 12 cents more per gallon for 21 gallons... talk about cutting off my nose to spite my face.
I had forgotten that there was a gas war in the first town I was in.

How do they access your cards?

What cards do that? Many cards will do quarterly promotions and give higher cash back (usually 5%) for certain retail categories (ie-fuel, supermarkets, etc.) but those change every 3 mo.

4% casback on gas with Citicard. Already have $186.00 coming back next year from gas and other purchases. Almost $800.00 back in February from last year spending.

 

[Jstpssng]

How do they access your cards?

I have not done it. Yet as near as I can tell, you link their “rewards” card to your checking account. I do have that card although I rarely use it. Their rewards are more gimmick than savings.
Call me paranoid, but that’s not going to happen.

I see that the “savings” is now up to 20 cents per gallon. I haven’t had the time to determine if it really is a savings, or if everyone else is actually paying 20 cents more than we will elsewhere.