WTF Costco? You pre-authorize $150 at your gas pumps????

[DrPizza]

If you pay with a credit card you may end up paying 10 cents more a gallon than advertised. The price they show on the sign is their "cash discount price".

This is true, but only of some gas stations. And, the majority of those stations seem to clearly advertise "cash price." It's never a surprise if you pay attention. And, in this part of NY, 5% cash back on gas means 18 cents off per gallon.

 

[pcgeek11]

Really?

I find it less of a PITA to slide a card into the gas pump, pump gas, and leave.

I always carry cash. I still write checks too. Crazy huh?

Except in this case where they preauthorize $150 and you only need to get $40.

I give the lady XX cash for how much gas I want and drive away. Same thing with no over charge.

 

[JMapleton]

I just like using cash. It seems interest makes a lot of those points less lucrative than you think, and it's a pain having another bill to pay.

You pay no interest if it's paid off before the due date of the billing cycle.

Furthermore, why fall victim to the irrational stress of "having to pay a big bill once a month"? You're paying the same by paying at once at the end of the month than you would if you paid a little bit at a time over the course of a month. Instead you're falling victim to a weak minded mentality.

"I just like cash" is a very irrational and intellectually weak argument.

 

[Platypus]

I just like using cash. It seems interest makes a lot of those points less lucrative than you think, and it's a pain having another bill to pay.

Not to derail your gas rant but I make a pretty decent amount ($1200 last year) of money per year from points on cards not really even trying, I get full protection on all purchases and if it gets stolen I don't get completely fucked like debit card users can and do. Just use it like you do a debit card, don't buy what you cant immediately pay off and don't carry a balance. It's pretty much a no-brainer in my mind.

It's another bill this is true, but just set up an auto-pay if you really don't like taking an extra few seconds to do something that makes you lucrative money if you use it right.

I could go on and on about how stupid debit cards are with plenty of painful personal experience stories but I'll spare you. Think about it at least..

 

[ThatsABigOne]

The us is weird when it comes to gas. Here we just pay what we pump. Pump till it stops or you stop then go pay what it says.

It used to be like that up until 3 years ago. Now you have to prepay before you fill up.

 

[alkemyst]

Really?

I find it less of a PITA to slide a card into the gas pump, pump gas, and leave.

He is trying to rationalize it to himself I guess.

 

[pcgeek11]

"I just like cash" is a very irrational and intellectually weak argument.

How is that irrational and intellectually weak?

Paying in cash has been working for how long now? As long as there have been gas stations.

Is it convenient? Yes.

Do I have to worry about excessive pre-authorizations? No.

I like using cash and checks. I don't care if you do or not. But to call it " irrational and intellectually weak " is just silly.

I don't even have a debit card. Nor do I want one.

 

[WackyDan]

With all the data breaches in the news and card reader skimmers you would think people would wise up and not use their debit cards for much of anything. Too much to risk.

Use your credit card - you are far better protected that way... ANd it doesn't take much to keep track of it and pay it off every month.

 

[pcgeek11]

He is trying to rationalize it to himself I guess.

I don't have to rationalize it to anyone. Esp you. I'm not asking you to like it.

Debit, Credit and ATM Cards are a much bigger issue for theft than you guys are owning up to.

If I get robbed all they get is the small amount of cash in my pocket.

http://www.bankrate.com/finance/checking/risky-places-swipe-debit-card-1.aspx

 

[alkemyst]

How is that irrational and intellectually weak?

Paying in cash has been working for how long now? As long as there have been gas stations.

Is it convenient? Yes.

Do I have to worry about excessive pre-authorizations? No.

I like using cash and checks. I don't care if you do or not. But to call it " irrational and intellectually weak " is just silly.

I don't even have a debit card. Nor do I want one.

I'd have to carry around $500-1000 if I didn't have plastic on a day to day basis.

That's hardly convenient.

 

[Printer Bandit]

Poor people or people that have bad credit scores tend to use debit more.

 

[pcgeek11]

I'd have to carry around $500-1000 if I didn't have plastic on a day to day basis.

That's hardly convenient.

So, you spend 500 to 1000 dollars a day.

I may spend 20 - 30 a day unless I need gas.

Maybe cash isn't for you. It works quite well for me.

 

[pcgeek11]

Poor people or people that have bad credit scores tend to use debit more.

He said this ^^^

Then the fight started!

 

[JMapleton]

How is that irrational and intellectually weak?

Paying in cash has been working for how long now? As long as there have been gas stations.

Is it convenient? Yes.

Do I have to worry about excessive pre-authorizations? No.

I like using cash and checks. I don't care if you do or not. But to call it " irrational and intellectually weak " is just silly.

I don't even have a debit card. Nor do I want one.

You argument makes no sense whatsoever.

Paying in cash has been working for how long now? As long as there have been gas stations.

What does that even mean? That makes no sense. It's like saying man has been riding horses for hundreds of years, so riding a Clydesdale down the interstate is a logical idea.

Is it convenient? Yes.

No. Counting out dirty money, dealing with a handful of coins. It's the least convenient option.

Do I have to worry about excessive pre-authorizations? No.

You don't have to worry about that with credit cards either.

But to call it " irrational and intellectually weak " is just silly.

Given you have provided no logical argument as to why it's best to use cash, I think my statement is valid.

 

[JMapleton]

I don't have to rationalize it to anyone. Esp you. I'm not asking you to like it.

Debit, Credit and ATM Cards are a much bigger issue for theft than you guys are owning up to.

If I get robbed all they get is the small amount of cash in my pocket.

http://www.bankrate.com/finance/checking/risky-places-swipe-debit-card-1.aspx

You are incorrect again. If you have a credit card and it's stolen, you are not held liable for the charges, ever.

If you have $500 cash in your pocket and it's stolen, you're out $500.

 

[pcgeek11]

You argument makes no sense whatsoever.

Paying in cash has been working for how long now? As long as there have been gas stations.

What does that even mean? That makes no sense. It's like saying man has been riding horses for hundreds of years, so riding a Clydesdale down the interstate is a logical idea.

Is it convenient? Yes.

No. Counting out dirty money, dealing with a handful of coins. It's the least convenient option.

Do I have to worry about excessive pre-authorizations? No.

You don't have to worry about that with credit cards either.

But to call it " irrational and intellectually weak " is just silly.

Given you have provided no logical argument as to why it's best to use cash, I think my statement is valid.

Apples and Oranges...


If you are worried about money being dirty you have other issues. How about those dirty door knobs ... etc Why would you carry around a "handful" of coins? You only need a few if any. That makes no sense.

I do have a credit card that I use for major purchases, not gas or groceries. I don't see using it for small petty things.


The ONLY Logical reason I have to have is it works for me. You haven't given me any logical reason for me not to use cash. I think my statement is more valid for me. You can do what pleases you.

 

[pcgeek11]

You are incorrect again. If you have a credit card and it's stolen, you are not held liable for the charges, ever.

If you have $500 cash in your pocket and it's stolen, you're out $500.

Who carries $500 in cash in their pocket daily. Except for alkemyst. Certainly not I.

Do what works for you. Your call. I'm not going to call you names for it.

 

[JMapleton]

The ONLY Logical reason I have to have is it works for me. You haven't given me any logical reason for me not to use cash. I think my statement is more valid for me. You can do what pleases you.

I have....

Fact: It's safer.
Fact: You can earn points and cash back for using it.
Fact: It's more convenient.
Fact: You can track your purchases easily.
Fact: You get extra benefits like purchase protection, extended warranties, and travel benefits.

The only logical reason to use cash is to reduce overspending. I understand this is a problem for some people. But the reality is, if this is your situation, it means you do not trust yourself. That's not a great situation to be in.

 

[BarkingGhostar]

Went to get gas today at Costco and used my debit card to pay for it. My checking account is the "pay the bills" account, so it often runs low. I had about $120 or so in it and when to fill up. The pump said "Authorization denied". Tried again...same thing. Ended up putting it on my AmEx card.

Then I get an automated text from my bank "Transaction for $150 from Costco Denied due to insufficient funds".

Why the hell do they pre-authorize that much? Seems a bit excessive.

I guess I never noticed this too much before since I use my Amex account. I guess living on the edge has its drawbacks. The pre-auth is so temporary as to only have been noticed (by me) once in eight years.

 

[alkemyst]

Who carries $500 in cash in their pocket daily. Except for alkemyst. Certainly not I.

Do what works for you. Your call. I'm not going to call you names for it.

I don't carry much cash at all on a day to day basis, usually $100 or less is in my wallet. If I am going out to a bar/restaurant I am unsure about, I may bring enough cash to cover things and not risk getting skimmed even though I am covered from loss.

The expenses I encounter fluctuate a lot day to day. I may have to come out of pocket several hundred dollars for a client and then expense it.

I am not sure why you don't use your credit card and just pay it off daily/weekly/monthly and avoid interest.

Do you have issues with credit?

 

[Fritzo]

Not to derail your gas rant but I make a pretty decent amount ($1200 last year) of money per year from points on cards not really even trying, I get full protection on all purchases and if it gets stolen I don't get completely fucked like debit card users can and do. Just use it like you do a debit card, don't buy what you cant immediately pay off and don't carry a balance. It's pretty much a no-brainer in my mind.

It's another bill this is true, but just set up an auto-pay if you really don't like taking an extra few seconds to do something that makes you lucrative money if you use it right.

I could go on and on about how stupid debit cards are with plenty of painful personal experience stories but I'll spare you. Think about it at least..

Never had a problem. I don't usually use debit (I use the credit function of my debit, which gives 1% for every MasterCard transaction), but it was required at Costco.

 

[Tweak155]

Same old debate... if you can restrain yourself, the benefits from using a credit card are a clear choice. However, peace of mind is worth more than the hundreds you'll get in a year from the points if you don't trust yourself or it makes it hard to track for you.

I've been using credit cards since I was 17 or 18 and have not been charged a cent in interest or any fees... it has been nothing but interest free loans and free money.

 

[KidNiki1]

Well, I don't have an amex card so I have to use my debit when i get gas at costco.
but i have never ever had them pre-authorize that much. that's crazy. :O

 

[Tweak155]

Well, I don't have an amex card so I have to use my debit when i get gas at costco.
but i have never ever had them pre-authorize that much. that's crazy. :O

This is odd to me... I go to Sam's Club and in the store they only take debit or Discover, but at their pumps it is any card I want. Might be similar at Costco?

 

[KidNiki1]

This is odd to me... I go to Sam's Club and in the store they only take debit or Discover, but at their pumps it is any card I want. Might be similar at Costco?

We accept: American Express, most PIN Debit Cards, Costco Credit, and Costco Cash Cards.

so, those are the options. they also DO NOT accept cash.