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## Re: Gas Spending

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

Message 11 of 16
Established Contributor

## Re: Gas Spending

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.

TU713, EQ 731 , 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 3-26-15

Message 12 of 16
Super Contributor

## 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 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 13 of 16
Valued Contributor

## Re: Gas Spending

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?

^^^^

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.

Credit Cards: AmEx Platinum (NPSL), Citi Prestige (\$32K), Simmons (\$5.5K), IberiaBank (\$14K)
Personal Lines of Credit: U.S. Bank (\$5K), Wells Fargo (\$11.2K), Citibank (\$11.8K), PenFed CU (\$25K), LA Financial CU (\$20K)
myFICO 3B Report (as of 4/30/16): Experian: Score 8: 786; Mortgage Score 2: 809 Equifax: Score 8: 801; Mortgage Score 5: 809 Transunion: Score 8: 796; Mortgage Score 4: 796
Jumbo Mortgage: 3.75%
Message 14 of 16
Established Contributor

## 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

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.

TU713, EQ 731 , 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 3-26-15

Message 15 of 16
Super Contributor

## Re: Gas Spending

VirtualCuriosity 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 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 16 of 16