The reason
Is the retailer is charged around 2% to take the card. When gas reached $4+ a gallon it was costing the retailer about 8cts per gallon. Their profit margin is usually somewhere between 10 to 20 cents per gallon before expenses (in my neck of the woods).
It was a bonanza for the credit card compaines.
Originally posted by Lion
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It was a bonanza for the credit card compaines.
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