Interesting Los Angeles Times (August 21, 2007) article about gas stations cutting back on credit card acceptance in favor of cash.
Start of story:
"Cash rules at some pumps
Credit card companies' fees can be a significant expense for dealers. Some offer markdowns of 3 to 15 cents per gallon.
By Elizabeth Douglass
August 21, 2007
Americans love their credit cards. But at more and more gas stations, it pays to be part of the cash crowd.
In Costa Mesa, Craig Hummel pocketed a 12-cent-a-gallon discount recently because he used real money at a Valero station instead of his Visa or MasterCard. He bought 9 1/2 gallons of premium for his Mercedes sport utility vehicle and saved $1.14.
"I know a lot of people just go wherever they want for gas . . . but I only come here," said Hummel, a Realtor from Newport Beach. "Over a year's time, you save quite a bit. I think more stations should offer it."
They are. To dodge the rising fees that credit card companies tack on to transactions, both no-name and big-brand stations are charging drivers less when they buy with cash. In California, the savings range from 3 cents to 15 cents a gallon."
Read the rest at:
http://www.latimes.com/business/la-f...,6090239.story
You can also take a look at the Chicago Sun Times consumer writer's take on minimums from August 11, 2007 at:
http://www.suburbanchicagonews.com/n...XER_S1.article