Gas stations are now placing hold charges up to $175 on credit and debit cards used at the pumps, reports the Wall Street Journal.

In a typical gas purchase, the customer swipes a credit or debit card prior to actually pumping the fuel. Thus, there's no way to know how much the customer may actually spend. Thus, a pre-authorization charge is placed on the card to ensure enough funds (or credit limit) are present in the account to cover the largest possible transaction. Once the customer finishes pumping, the card is charged for the actual gas used and the hold charge is released.

Read Article

Gas Stations Are Now Placing $175 Hold Fee When Charging At The Gas Pump

About the Author