"NCN" at No Credit Needed has noticed a change on the personal-finance front that's due to the rising price of gas. Some gas stations are no longer taking credit cards for payment. Flexo at Consumerism Commentary reports about a variation on that practice: His favorite New Jersey station recently adopted a discount for cash customers.
We can understand why both are happening. Gas stations pay a set percentage -- usually about 2% -- of each transaction involving a credit card. As the price of gas goes up, that 2% produces more revenue for the card companies, even though their costs for processing payments remain the same.
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