High Gas Prices– Maxed Credit Card Limits
Watch out for limits on your pay-at-the-pump purchases…
In an effort to prevent fraud, credit card companies have set-up a cap (or limit) on how much gas you can pump at any given time. When gas prices were lower most consumers were unaware of the safe guard. But with the price of gas at all time highs, the limit is often reached before the tank is full - causing a great deal of aggrevation for people filling up large trucks, SUVs, boats or mobile homes with higher capacity fuel tanks. Although the limit only applies to pay-at-the-pump transactions and not purchases made inside or at the counter, many people are unaware until it’s too late and the gas pump stops unexpectedly.
“I now have to use two credit cards to fill a tank of gas,” said Mark Brightmore of St. Louis, MO. “The convenience of paying at the pump is lost. And I now have to use alternate credit cards to fill my up my Ford F-150 pickup. Commuting to work over 500 miles a week makes the loss of convenience particularly troublesome.”
Although the policy isn’t new, it was designed to ensure that merchants and consumers are protected from theft, frudulent and unauthorized credit transactions that can occur at the gas pump. Typically a consumer using a credit card is not liable for any fraudulent purchases. Gas dealers are not liable either. By setting a limit, a level of protection is added to gas purchases.
Customers of MasterCard have a $75 limit; Visa and Discover offer users a $50 limit. Corporate credit card companies, as well as American Express, have varying offers. Check your card agreement for the specific limit for your credit card.
* Looking for special gas incentives? See our list of Gasoline Credit Cards.
