Credit card hold of up to $175 at gas stations
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With rising gas prices, the standard credit card hold goes up, sky high!
Visa and Mastercard both have gas stations authorized to hold up to $175 on your credit or debit card when you fill up at the pump.
Although this is just a credit card hold and the charges are reconciled to the actual amount, the time it takes for this to happen can be long.
Some gas station credit card systems can last anywhere from a few hours to a few days.
“When you set a hold that is a high number, it increases the likelihood that a consumer will be overdrawn because of that hold,” said Jeff Lenard of the National Association of Convenience Stores. the wall street journal In Monday.
“However, if you set a number too low, you also risk not getting paid for that transaction.”
How to bypass gas station credit card hold?
According Kelly’s Blue Bookyou can try two things.
- Enter and pre-authorize a smaller transaction. This eliminates the convenience of paying directly at the pump, but if you tell the clerk to only charge you $40, the only amount charged at that time will be the $40.
- Ditch the credit card or debit card altogether and just pay cash. Again, this requires going inside the gas station and reduces convenience, but avoids credit card headaches.