Reply
New Member
Posts: 1
Registered: ‎04-16-2014
0

Re: Gas Spending

And Michael 982 Discover has 5% cash back at gas stations right now through September 30th

Established Contributor
Posts: 883
Registered: ‎09-10-2010
0

Re: Gas Spending

[ Edited ]

Hmmm. Maybe I saw the math a little different.  Am I the only one who gets dinged $1 for using a card at the pumps?  The way it works out for me ends up pulling the 5% savings back down to average of 11c per gallon.  


TU712, EQ 742 , EX 726 (As of 12/13/14) - Personal Goal = 760

“Beware of little expenses. A small leak will sink a great ship” – Benjamin Franklin

Gardening since 11-21-14































Super Contributor
Posts: 8,452
Registered: ‎06-19-2013
0

Re: Gas Spending


VirtualCuriosity wrote:

Hmmm. Maybe I saw the math a little different.  Am I the only one who gets dinged $1 for using a card at the pumps?  The way it works out for me ends up pulling the 5% savings back down to average of 11c per gallon.  


do you mean you get 1 dollar pending charge ? If thats the case it will stay pending and you won't ever get charged that. If its not pending than I would see if you could find an different gas station to buy gas from 



EX Fico 791 1/7/15 Fako 801 CS/Credit.com 11/24/14
EQ SW bank enhanced 1/27/15 823 quizzle fako 807 1/7/15 CK fako 804 2/7/15
TU Fico Barclay's 1/24/15 793 TU fico walmart 2/5/2015 792 Fako 806 Creditkarma 2/7/15
Frequent Contributor
Posts: 489
Registered: ‎04-03-2014
0

Re: Gas Spending

[ Edited ]

kfyoung wrote:

Im sure someone has posted something like this before but of the two:

 

  • 5% cash back on gas
  • 15 cents off per gallon

Which would you be using?

 

Thanks for your input. :cathappy:


^^^^

 

I'd be using the one that gives me the most money back or minimizes my cost. For example, let's say gas is $4.09/gallon and I buy 10 gallons.

 

If I go with 15 cents off/gallon, then I'd be paying $4.09-0.15=$3.94 x 10 gallons = $39.40

If I go with 5% cash back, then 10 x $4.09 = $40.90 * 0.95 = $38.86

 

Because $38.86 < $39.40 by 54 cents I choose the 5% cash back option since I pay less for 10 gallons at $38.86 with the 5% cash back option.

Established Contributor
Posts: 883
Registered: ‎09-10-2010
0

Re: Gas Spending


mongstradamus wrote:

VirtualCuriosity wrote:

Hmmm. Maybe I saw the math a little different.  Am I the only one who gets dinged $1 for using a card at the pumps?  The way it works out for me ends up pulling the 5% savings back down to average of 11c per gallon.  


do you mean you get 1 dollar pending charge ? If thats the case it will stay pending and you won't ever get charged that. If its not pending than I would see if you could find an different gas station to buy gas from 


You are correct.  That just made me feel better lol.  I pay the cards in full several times a month and never bothered to confirm on the statement that the pending charge is indeed removed each time.  Thanks for pointing that out.


TU712, EQ 742 , EX 726 (As of 12/13/14) - Personal Goal = 760

“Beware of little expenses. A small leak will sink a great ship” – Benjamin Franklin

Gardening since 11-21-14































Super Contributor
Posts: 8,452
Registered: ‎06-19-2013
0

Re: Gas Spending


VirtualCuriosity wrote:

mongstradamus wrote:

VirtualCuriosity wrote:

Hmmm. Maybe I saw the math a little different.  Am I the only one who gets dinged $1 for using a card at the pumps?  The way it works out for me ends up pulling the 5% savings back down to average of 11c per gallon.  


do you mean you get 1 dollar pending charge ? If thats the case it will stay pending and you won't ever get charged that. If its not pending than I would see if you could find an different gas station to buy gas from 


You are correct.  That just made me feel better lol.  I pay the cards in full several times a month and never bothered to confirm on the statement that the pending charge is indeed removed each time.  Thanks for pointing that out.


No problem i hate those gas station that put an 100 dollar pending not just the 1 dollar!!! Back on topic i will use credit almost every single time over cash. 



EX Fico 791 1/7/15 Fako 801 CS/Credit.com 11/24/14
EQ SW bank enhanced 1/27/15 823 quizzle fako 807 1/7/15 CK fako 804 2/7/15
TU Fico Barclay's 1/24/15 793 TU fico walmart 2/5/2015 792 Fako 806 Creditkarma 2/7/15

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.