Gas Prices Hurting Credit Cards?
Filed Under (Credit Cards Blog) by creditblogger on 03-07-2008
High gas prices are not just hurting the American people. They are also hurting card issuers. Gas stations’ profits have gone done with people driving more conservatively. Add to that the credit card fees that these stations need to pay to credit card issuers, and many of them are left in the red.
That is why a few gas stations around the nation do not accept credit card anymore. A few other gas stations have started charging extra fees to cover for their card processing costs. But here is the dilemma. If you don’t accept credit cards in a gas station, you are going to lose a part of your business. More importantly, if you charge your customers a credit card fee, then you are likely to lose your business to stations which don’t adopt the same policy.
Either way, you lose your customers. But asking people to pay with cash seems to be the better option at this point. It’s less convenient and probably annoying to the customers, but at the same time they won’t be overcharged. Whatever the decision, you can’t blame these small business owners for trying to stay in the green.
