credit card limit

2oldman wrote:

BurbMan wrote:
the retailer is free to set the limits wherever they like, it's their store.

PFJ RV Plus wrote:
Credit Card limits are set by the credit card companies, and or banks.

This happens every time this subject comes up.

It must be both: CC companies have a reimbursement limit to the stations (but don't impose the pump limit), so the stations protect themselves by using the pump limit. Burbman probably said that already.

Is that an agreeable and sensible answer?

If the card ends up stolen or the charge is disputed the business gets charged back by the merchant bank. I.E. they don't get paid. So the business has a transaction limit they wish to risk. If your charge back percentage gets too high they will increase your fees.

2oldman wrote:

BurbMan wrote:
A drive-off is when you pump gas and leave without paying.

I can think of maybe one station in the last few years that allows pumping sans paying first.

I've been asked to leave a CC with the cashier due to drive-offs. I don't think that makes much sense.

Golly, almost all of the stations within 50 miles of me allow you to pump first before you pay. But, there is a button on the pump that you have to push that says pay inside or, pay at the pump. If you push the pay inside button you may have to wait a few seconds while the attendant looks at you, and your vehicle. Then pushes the button inside to start the pump running. I'm assuming, but, don't really know, that the attended also makes sure the video recorder running got a good shot of your license plate and face before he or she pushes the button to start the pump running.

There is one station down in Iowa Great Lakes region that does not do this and they do not take checks either. When I learned this I just started going 2 blocks down the road to Casey's or the other station with the Dinosaur (I forget the name) and I have no problems there.

We usually get diesel when the tank is down to a quarter or a third of a tank as it is easier than trying to find a place that pumps diesel when our range is down to 30-40 miles with our available fuel. Less than a fourth of the time are we putting in more than $100 and when we do my wife goes inside with the card and I put in the fuel. As things go it is a non issue for us.

When traveling we put all the fuel on one card which makes it easier to reconcile after a trip. We use a different card for other charges when we travel. When we get back home we have both credit cards reissued by the bank so we get new card numbers and the banks shut off the old numbers. We pay nothing to have this done and they will even overnight the cards to us at no charge if we ask them to do so.

When someone takes down your credit card information they will often wait a month or longer to start using the card so you do not connect the fraudulent charge to the last place you used the card. They also usually do a small transaction to see if the card is still good.

When we see a transaction and charge for a small amount we research it and if it is bogus we immediately call the bank and have the card killed. This past week we had this with a charge that was a little over $6, which some people might ignore, but we did not. It was the warning shot before the person started a buying spree.

Gas purchases are also a special animal as I learned after twice having my credit card flagged at a Macy's during the holidays. The second time it happened I asked the credit card agent why this was happening and I was told that my having purchased gas for my car and then followed that transaction with a large purchase at a department store raised a flag. Credit card thieves I was told will typically fill up there car/truck and then head to places where they can buy appliances and electronics that are easy to sell at flea markets and turn into cash.

When we travel out of state or out of the country we will call the credit card companies whose cards we will be using and tell them where will be going and for how long. This greatly minimizes problems with our cards.

Very interesting topic! In Alberta, Canada, I have not experienced a limit or refusal of credit when buying gas. All credit and debit cards here have chips and pins so maybe they are more secure?

I am interested in the question of who pays for credit card fees, which I think amount to enormous revenue for banks and some pretty good kickbacks to cardholders. A farmer here brags that when he buys $100k of fertilizer on his Royal Bank credit card, he gets enough points to go first class to Europe, including hotels. I expect the fees to merchants end up being paid for by customers somehow. Here there are no fees charged to customers paying by credit card, even when they use 5% kickback cards, so all customers must be helping pay for the farmer's holiday through increased prices.

Some gas stations offer bonus points if you use a particular credit card. For example the Superstore gas bar offers 7 cents per Liter in grocery credits when paying with a Presidents Choice card. I speculate that this is the amount the store saves in fees it would have to pay if the customer used a different card.

Good for you.

Glad we got that problem settled. :S

rockhillmanor wrote:
Unless you pay the entire credit card bill monthly you ARE paying 'interest'. Very few people pay it off entirely every month making minimum payments = paying the high interest rate.

A great many people pay off their credit cards every month. I have several credit cards I rotate purchases between and I pay them off every month so no interest.

I usually make about $1000 a year off credit cards between rewards and bonuses for signing up for new cards. Different cards have different rewards for different things. I do spend a little bit of time each month making sure they all get paid, but well worth it. (The IRS has ruled that credit card rewards and sign up bonuses are not taxable income.)

Adding more and dropping cards a lot with drop your credit rating some.

I have never had an issue get a receipt at the pump at Pilot or Flying J - I prefer Pilot with their RV pumps - except when the village idiot pulls their car in there when there is plenty of room at other pumps - then pumps gas and then goes in for sandwich or something and leaves their car there.

I was at a station - Chevron - here in Indio, CA yesterday. Diesel sign said $3.15 and $3.05 so I used my debit card. Still wanted $3.15. So I canceled and went inside and asked - guy says to me, "Cash means just that, CASH!".