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Posted by EdV on July 18, 2008, 2:03 pm
, there was

I've seen one gas station in Central NJ which offers discount of
12cents /gallon if you pay in cash and not by card. I hope many
stations will follow

Posted by Was Istoben on July 18, 2008, 2:09 pm

Apparently retail credit card contracts have changed.  They one I entered
into ten years ago prohibited discounts for cash.

Posted by Michelle Steiner on July 18, 2008, 3:06 pm

In the 1982, credit card contracts prohibited surcharges for using the
card, but said nothing about discounts for cash.  I haven't heard about
any changes to that in the past twenty years.

Donate to the Leukemia and Lymphoma Society; help send Michelle to the marathon.

Posted by Tomes on July 18, 2008, 4:35 pm
 "Michelle Steiner"...

That is a problem.  I always thought that charging a different price for
credit was against the agreement.  There must be a loophole somewhere.  The
price advertised (what I see in NJ anyway) is a price, then you get to the
pump and find out that they charge extra for a credit card.  I then drive
Some [only some] say cash price on the pole.

And it is not a cash discount, it is a surcharge for credit cards.  The
competitive price is the one one on the pole.  If the price differs upwards,
it is a surcharge.  Would I pay a surcharge at a restaurant?  Nope.

While I understand that some folks still want to pay with cash, the economy
is moving to or has moved to an electronic basis now.  I know I don't want
to carry around hundreds of dollars on me and also be going to the ATM
constantly.  I go get cash to go get gas?  I think not.

I googled this a little bit and here are some interesting discussions, fyi:
There are more.  I googled for this 'credit card retailer agreement

In particular from here
http://www.retailers.com/eduandevents/ask/askchargeforcredit.html  I read
"A. No. Section 167 of the federal Truth in Lending Act states: "No seller
in any sales transaction may impose a surcharge on a cardholder who elects
to use a credit card in lieu of payment by cash, check or similar means."
Bankcard companies also include in their agreements with retailers a section
that prohibits businesses from imposing a surcharge on credit card
purchases. Businesses that violate this or any part of their bankcard
agreement may be dropped from the bankcard program.
However, businesses are allowed by law to offer a discount for purchases
made by cash or check. Check your bankcard agreement to see what it says
regarding these transactions.
The difference between a surcharge for credit (which is illegal) and a
discount for cash (which is legal) is the advertised price-a retailer cannot
charge a credit card customer more for an item than its advertised price."

The price on the pole is the advertised price.

Posted by Was Istoben on July 18, 2008, 5:05 pm

These agreements vary and a retailer can shop the banks (brokers) for the
best deal on the same card or combination of cards.

I agree with you regarding the use of credit cards and take advantage of the
cash premium.  Still, financial counselors advise people who have trouble
living within a budget to use cash exclusively.  Put your budget in your
purse and you always know how much you have left, they say.

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