{"id":1027,"date":"2012-08-03T10:35:22","date_gmt":"2012-08-03T14:35:22","guid":{"rendered":"http:\/\/www.myfinancialfocus.net\/mainsite\/?p=1027"},"modified":"2025-08-24T06:38:54","modified_gmt":"2025-08-24T10:38:54","slug":"cash-or-credit","status":"publish","type":"post","link":"https:\/\/www.myfinancialfocus.net\/mainsite\/index.php\/cash-or-credit\/","title":{"rendered":"Cash Or Credit"},"content":{"rendered":"

Do you use a debit card to purchase your fuel? \u00a0So many of us do. \u00a0You know, it is that convenience thing – pay at the pump. \u00a0But are you aware of what happens behind the scene? \u00a0Are you aware that you are potentially freezing money in your account while the gas station and the bank “settle up”? \u00a0What happens is your checking account balance is struggling?<\/p>\n

\"\"<\/a>When you drive up to the pump and insert your debit card into the reader, a connection to your bank is made that validates you having money in your account. \u00a0If you have money – great! \u00a0The problem is no one knows how much you are going to spend there at that pump. \u00a0An agreed to amount is then placed on your account, assuming you have that much there, and it is locked or frozen until the account is properly debited for the final amount. \u00a0That could be 1-3 days. \u00a0If things are tight in your account then… you now see the picture.<\/p>\n

Here is an example. \u00a0You insert your card into the reader and your account is now locked for $80. \u00a0You pump your gas and the final amount is $42. \u00a0Since the locked amount is $80 and you only spent $42 you should then have the remaining $38 back to your credit in your account. \u00a0You will, but it may take 1-3 dys for that to happen.<\/p>\n

Your bank account is tight? \u00a0With this scenario you could bounce some checks. \u00a0You could be prevented from another debit card purchase that you want to make in that window. \u00a0See the picture?<\/p>\n

How do you avoid? \u00a0First, you can pay cash. \u00a0Yes, they still take cash and will gladly due so. \u00a0Some stations offer a conveience card that allows you to delay going inside until you have finished pumping. \u00a0Use the card to initiate the pump and they know, now, who you are and who to come after if you “forget” to pay.<\/p>\n

Second, use a debit card. \u00a0You can use the convenience card (if one exists) or you can go in and tell the attendant how much you want to pump before you pump your fuel. \u00a0With this transaction, your bank knows exactly what you spent and there is no lock or freeze on your account.<\/p>\n

While I specifically address debit cards here, the same is true of prepaid credit or gift cards in most cases.<\/p>\n","protected":false},"excerpt":{"rendered":"

Do you use a debit card to purchase your fuel? \u00a0So many of us do. \u00a0You know, it is that convenience thing – pay at the pump. \u00a0But are you aware of what happens behind the scene? \u00a0Are you aware that you are potentially freezing money in your account while the gas station and the […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,21,10,9],"tags":[],"class_list":["post-1027","post","type-post","status-publish","format-standard","hentry","category-coaching","category-credit-cards","category-personal","category-saving-money"],"yoast_head":"\nCash Or Credit - Financial Focus<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.myfinancialfocus.net\/mainsite\/index.php\/cash-or-credit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cash Or Credit - 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