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New Member
kfyoung09
Posts: 1
Registered: ‎04-16-2014

Re: Gas Spending

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

Established Contributor
VirtualCuriosity
Posts: 628
Registered: ‎09-10-2010

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.  


TU98 697, TU08 697, EQ 733, EX 691 (As of 7/2014) - Personal Goal = 760+

Gardening since 7-13-14


Senior Contributor
mongstradamus
Posts: 3,828
Registered: ‎06-19-2013

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 770 5/12/2014 Fako 806 CS/Credit.com 7/23/14
EQ SW 807 quizzle fako 796 7/19/14
TU Fico 804 7/24/2014 Fako 751 Creditkarma 7/12/2014
Frequent Contributor
youdontkillmoney
Posts: 315
Registered: ‎04-03-2014

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
VirtualCuriosity
Posts: 628
Registered: ‎09-10-2010

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.


TU98 697, TU08 697, EQ 733, EX 691 (As of 7/2014) - Personal Goal = 760+

Gardening since 7-13-14


Senior Contributor
mongstradamus
Posts: 3,828
Registered: ‎06-19-2013

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 770 5/12/2014 Fako 806 CS/Credit.com 7/23/14
EQ SW 807 quizzle fako 796 7/19/14
TU Fico 804 7/24/2014 Fako 751 Creditkarma 7/12/2014

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