Thread: Gee Thanks, Costco Gas....

Pay cash, they don't turn it down.

Originally Posted by luvtolean

Pay cash, they don't turn it down.

Good idea. I'll go back tomorrow with a sackful of change.

Same thing out here at some gas stations.

What a load of bollocks!

Someone should get a scooter activist group fired up about this one so they'll make a stink on the news about. That's discriminatory to require authorization for ten times what the vehicle could ever hold.

Originally Posted by Richard636

All gas stations I've been to operate like this for 'pay at the pump'. Regardless of debit or credit, they preauthorize the card for $100. Just in case you decide to fill up and don't have the cash/credit...

My understanding is that cc companies/banks don't allow a "blank" charge as a pre-authorization so the machines "charge" an amount (usually $100) until the transaction is complete. Then they refund the precharge and charge the actual amount.

On a slightly related note... be careful about blindly charging your debit/cc at the pump. Alot of gas stations are charging an extra fee (+$0.10/gal around these parts). I was caught twice

I pay cash pretty much all the time, credit cards suck for day to day expenses

What's funny is I remember when they only did $50, so the pump would stop itself at 50, I would have to hit the nozzle-flap-switch-thing and then re-run the card for my next 50 bucks, and finish filling up.

I was glad when they upped it.

Originally Posted by Richard636

I pay for EVERYTHING on credit. I usually pay my card off, in full, once a week though.

Heck, I even bought a 5 dollar footlong today from Subway on credit.

I try to pay in cash for little stuff but gas I just charge because I don't wanna go in twice.

I too bought a footlong sub at Subway today, but I paid cash.

Originally Posted by Richard636

I pay for EVERYTHING on credit.

Yup. Paying cash for everything is simply pissing money away.
I use a cash reward type card for all day to day expenses, then an extra-protection type card on larger items, electronics, etc. You can use travel points type cards if you prefer as well.
Paying with cash is just dumb these days. Get your system established, set your bill pay, etc. You're far more protected and get rewards when doing it that way.
Paying with credit cards for day to day expenses, monthlies like mobile phone, satellite, etc. pretty much rules. Sure it's a small figure but an easy $500+ free money yearly, extra protection, more convenient, could go on and on.

Originally Posted by bda116

Yup. Paying cash for everything is simply pissing money away.
I use a cash reward type card for all day to day expenses, then an extra-protection type card on larger items, electronics, etc. You can use travel points type cards if you prefer as well.
Paying with cash is just dumb these days. Get your system established, set your bill pay, etc. You're far more protected and get rewards when doing it that way.
Paying with credit cards for day to day expenses, monthlies like mobile phone, satellite, etc. pretty much rules. Sure it's a small figure but an easy $500+ free money yearly, extra protection, more convenient, could go on and on.

Of course the alternate to that is the studies that show you spend 15%+ more when you pay with credit (more stuff not cost). I would think that auto payment increases the number. I do have a credit card and use it for online books, track days, large purchases but not day to day stuff. Also when you pay with cash you don't have the negative float out there in case of layoff. Your choice I like cash for most things


Some references:
Study: Credit Cards Cause More Spending | LiveScience

Do We Really Spend More with Credit Cards? - Associated Content - associatedcontent.com

Kinda hard to pay for more stuff at the gas station when you pay at the pump and then leave. When paying with cash, you have to go in making it much more likely you leave with something else.
Grocery store, Wal-Mart, Target, AutoZone, wherever else you get to the checkout with what you have whether you're paying with cash or credit.
I have no desire to look, but I'd bet there are studies showing you spend less when using cards. It all depends on what you want to see.

I can guarantee that I don't spend more because I'm using cards. I could make an argument that I'm spending less, simply based on the gas scenario alone.
You may like using cash for everything, that's fine.
I like making my cash work for me, having more money and keeping protected financially. Just different mindsets.

It's a 'discipline' and 'mindset' issue but I spend more with cash because if I have $20, then buy something, now I have a bunch of small bills that inevitably get sqandered on small junk that I never would have bought if I was just carrying my cards. My "wallet" is a credit card sized pouch made of duct tape that holds a debit card, credit card, and insurance card. I never carry anything else.

Edit: Just saw bda's new post and definitely agree on the gas station alone saving me money by not ever setting foot in one.

Originally Posted by slickwill

My "wallet" is a credit card sized pouch made of duct tape that holds a debit card, credit card, and insurance card. I never carry anything else.

Slick... duct tape is so 2002. Its time to invest in a leather wallet.

Agreed on the cash in hand leading to more waste. I had $200 cash in hand from selling the treadmill and even though it went to several tanks of gas, I did blow more with it eating out than I would have otherwise.

Originally Posted by bda116

Kinda hard to pay for more stuff at the gas station when you pay at the pump and then leave. When paying with cash, you have to go in making it much more likely you leave with something else.
Grocery store, Wal-Mart, Target, AutoZone, wherever else you get to the checkout with what you have whether you're paying with cash or credit.
I have no desire to look, but I'd bet there are studies showing you spend less when using cards. It all depends on what you want to see.

I can guarantee that I don't spend more because I'm using cards. I could make an argument that I'm spending less, simply based on the gas scenario alone.
You may like using cash for everything, that's fine.
I like making my cash work for me, having more money and keeping protected financially. Just different mindsets.

People are all different, with different habits/weaknesses.

The gas station offers sodas, water that costs more than gasoline and candy bars that are twice the price. That pretty much holds no temptation for me. My Dad though, almost can't pass the cooler without deciding he needs a Pepsi.

I start each month with $100 in cash for fuel, and I think more about where I drive, spending less.

I've also "bought" some nice stuff with credit card points, and just got a check for $200. But nice as those feel, I went through and totalled fees/rewards and the math for me was negative.

The worst way I've ever managed my money was using the debit card as a credit card, and that was before joint accounts, and before I understood the risks of identity theft...

I see and have lived both sides, but having tried both, for us ultimate thrift comes from cash. For others, it won't.

"For your safety"

What a bunch of horseshit. Thanks for the correction though.

I won't wait in line to buy gas, so I have only fueled up there once or twice...

Frito: Yah I know this place pretty good, I went to law school here.
Pvt. Joe Bowers: In Costco?
Frito: Yah I couldn't believe it myself, luckily my dad was an alumnus and pulled some strings.

I have used debit cards before, but haven't for some time now. I avoid at all costs using anything tied directly to checking/savings accounts for day to day payments. And bill pay transfers happen through a clearing house type deal. My money accounts are pretty well protected as is my identity and credit rating.
For me it's plainly black and white. I have made money the past couple years since switching. Zero credit card fees, pay off monthly so no interest, make money off rewards and interest for my cash in accounts. Absolutely zero cash negative. Once I learned how to structure it all I knew I'd never go back. Unless, of course the electronic world came to a crashing halt. But that's not gonna happen until December 2012.
I pretty much never carry cash. Actually, I noticed the other day I had a five dollar bill in my wallet. I have no idea how long it's been there as I never look.

Maybe one thing that makes it easy for me is that I hate spending money on most "day to day" type things. I have zero temptation to buy clothing or food (other than groceries). Other sundries I just get when I need them. My wife took a bit to get used to it, but still no problem.

Originally Posted by SheepOfBlue

Frito: Yah I know this place pretty good, I went to law school here.
Pvt. Joe Bowers: In Costco?
Frito: Yah I couldn't believe it myself, luckily my dad was an alumnus and pulled some strings.

that movie is terrible.

Originally Posted by SheepOfBlue

Frito: Yah I know this place pretty good, I went to law school here.
Pvt. Joe Bowers: In Costco?
Frito: Yah I couldn't believe it myself, luckily my dad was an alumnus and pulled some strings.

Idiotica. Nice reference.

Originally Posted by CBR929RE

that movie is terrible.

Agreed, but it is rather telling of where our society is headed.

Originally Posted by bda116

I have used debit cards before, but haven't for some time now. I avoid at all costs using anything tied directly to checking/savings accounts for day to day payments. And bill pay transfers happen through a clearing house type deal. My money accounts are pretty well protected as is my identity and credit rating.
For me it's plainly black and white. I have made money the past couple years since switching. Zero credit card fees, pay off monthly so no interest, make money off rewards and interest for my cash in accounts. Absolutely zero cash negative. Once I learned how to structure it all I knew I'd never go back. Unless, of course the electronic world came to a crashing halt. But that's not gonna happen until December 2012.
I pretty much never carry cash. Actually, I noticed the other day I had a five dollar bill in my wallet. I have no idea how long it's been there as I never look.

Maybe one thing that makes it easy for me is that I hate spending money on most "day to day" type things. I have zero temptation to buy clothing or food (other than groceries). Other sundries I just get when I need them. My wife took a bit to get used to it, but still no problem.

I'm with you.

I do keep a couple bucks in my wallet for the few places left on the planet that don't take credit cards or have the "minimum transaction" limit which doesn't happen often because if I can't get it with the card, I'm probably just trying to spend money as opposed to needing something.