With the national average price of gas hovering near $5 per gallon – and higher in some states – the old limit of $125 was no longer sufficient to ensure payment balances in large vehicles were covered, a Visa spokesperson told the Wall Street Journal in a report published Monday.
Since gas stations can’t tell how much gas a customer will buy when they insert their credit or debit card, the businesses place a hold on their accounts to ensure the bill is covered until the final number is determined. The hold counts against a customer’s credit limit or their available account balance, depending on what card they use.
nypost.com/2022/06/27/gas-stations-reportedly-put-holds-of-up-to-175-on-card-swipes/?utm_source=NYPTwitter&utm_medium=SocialFlow&utm_campaign=SocialFlow
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