http://www.smartmoney.com/dealoftheday/ ... y=20070620
HOW MUCH DOES IT cost to fill up your gas tank these days? If it's $50 or more, you may leave the station with less than a full tank — if you're paying at the pump with plastic.
Credit cards have always had limits for how much you can charge at the pump. Visa and Discover limit pump transactions at $50; MasterCard, $75. American Express sets its limits by gas station. "The limits are not something that's often publicized at the station — it's a nasty surprise," says Curtis Arnold, founder of CardRatings.com. Most consumers just hear the "click" of the pump shutting off mid-fuel, and are left to wonder why.
Back when gasoline prices were lower, consumers were blissfully unaware of these limits. But today's big cars combined with gasoline prices that are over $3 dollars a gallon means many drivers are running smack into them. Someone filling the 39-gallon tank of a Chevrolet Suburban would hit the $50 Visa and Discover limit before the tank was even half full, while the 23.8-gallon tank of a Mercedes-Benz S-Class would be seven gallons short of topping off.
Technically, the limits are in place to prevent identity theft for a transaction that requires no signature. All stations have some cap, though the exact dollar amount varies, says Tristan Jordan, a spokesman for MasterCard. Smaller chains and independent stations tend to hug the liability limits set by the credit-card companies, because they are less able to afford a chargeback. Larger chains may place caps somewhat higher. Exxon Mobil, for example, sets its limits $25 above what card brands have established.
I love how most gas stations have a sign that shows these limits and that it's not their fault. According to this article, that's not completely true.
Unfortunatey, our bank was recently bought out and we went from having Mastercard to Visa.
-ERIC