topic Re: Gas Spending in General Credit Topics

Gas Spending

Anonymous — Fri, 11 Jul 2014 18:47:11 GMT

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.

Re: Gas Spending

Michael982 — Fri, 11 Jul 2014 20:03:12 GMT

I haven't seen any offer like that, but chase AARP cc has 3% on gas and restaurants year round! Also you can transfer the point to chase ultimate rewards to use with CSP

Re: Gas Spending

CreditDunce — Fri, 11 Jul 2014 21:20:20 GMT

It depends on how much gas cost. If you are paying $3 per gallon, 5% off = 15 cents. So it is a wash. Pay more than $3 per gallon, the 5% is better.

Same math works for places that charge less for cash vs. credit.

Re: Gas Spending

Anonymous — Fri, 11 Jul 2014 23:23:18 GMT

@CreditDunce wrote:

It depends on how much gas cost. If you are paying $3 per gallon, 5% off = 15 cents. So it is a wash. Pay more than $3 per gallon, the 5% is better.

Same math works for places that charge less for cash vs. credit.

+1. also, super jealous of anyone who's paying $3 per gallon. About $4.50 here in california :\

Re: Gas Spending

Anonymous — Sat, 12 Jul 2014 00:05:21 GMT

@CreditDunce wrote:

It depends on how much gas cost. If you are paying $3 per gallon, 5% off = 15 cents. So it is a wash. Pay more than $3 per gallon, the 5% is better.

Same math works for places that charge less for cash vs. credit.

Re: Gas Spending

14Fiesta — Sat, 12 Jul 2014 02:36:38 GMT

@Anonymous wrote:
@CreditDunce wrote:

It depends on how much gas cost. If you are paying $3 per gallon, 5% off = 15 cents. So it is a wash. Pay more than $3 per gallon, the 5% is better.

Same math works for places that charge less for cash vs. credit.
+1. also, super jealous of anyone who's paying $3 per gallon. About $4.50 here in california :\

WOW! I thought we had it bad here in North Dakota. I just paid $3.38/Gallon.

Re: Gas Spending

mongstradamus — Sat, 12 Jul 2014 03:54:15 GMT

@14Fiesta wrote:
@Anonymous wrote:
@CreditDunce wrote:

It depends on how much gas cost. If you are paying $3 per gallon, 5% off = 15 cents. So it is a wash. Pay more than $3 per gallon, the 5% is better.

Same math works for places that charge less for cash vs. credit.
+1. also, super jealous of anyone who's paying $3 per gallon. About $4.50 here in california :\
WOW! I thought we had it bad here in North Dakota. I just paid $3.38/Gallon.

I just paid 4.03 a gallon here. I don't even remember what 3 dollar a gallon is like

Re: Gas Spending

TheFate — Sat, 12 Jul 2014 04:03:50 GMT

@mongstradamus wrote:
@14Fiesta wrote:
@Anonymous wrote:
@CreditDunce wrote:

It depends on how much gas cost. If you are paying $3 per gallon, 5% off = 15 cents. So it is a wash. Pay more than $3 per gallon, the 5% is better.

Same math works for places that charge less for cash vs. credit.
+1. also, super jealous of anyone who's paying $3 per gallon. About $4.50 here in california :\
WOW! I thought we had it bad here in North Dakota. I just paid $3.38/Gallon.
I just paid 4.03 a gallon here. I don't even remember what 3 dollar a gallon is like

Yea I learned this hard lesson, never drive to Los Angeles without filling up... First station I could find was a Chevron... a whopping $5.22 a Gal

Re: Gas Spending

takeshi74 — Sat, 12 Jul 2014 13:32:21 GMT

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

5% cash back on gas
15 cents off per gallon

You don't have to rely on a posting. Do the math. X represents price per gallon. Compare:

X * 0.95

versus

X - 0.15

Re: Gas Spending

Anonymous — Sun, 13 Jul 2014 14:10:48 GMT

Thanks guys. My math skills were not on par when I posted this the other day haha. Thanks for breaking it down for me!

Re: Gas Spending

Anonymous — Sun, 13 Jul 2014 16:18:02 GMT

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

Re: Gas Spending

VirtualCuriosity — Mon, 14 Jul 2014 21:23:16 GMT

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.

Re: Gas Spending

mongstradamus — Tue, 15 Jul 2014 00:35:50 GMT

@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

Re: Gas Spending

youdontkillmoney — Wed, 16 Jul 2014 03:47:51 GMT

@Anonymous 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.

^^^^

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.

Re: Gas Spending

VirtualCuriosity — Tue, 15 Jul 2014 01:36:13 GMT

@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.

Re: Gas Spending

mongstradamus — Tue, 15 Jul 2014 01:56:03 GMT

@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.