How long does your credit/debit card hold your money after you pay at the pump?

Question

Seems like it varies from station to station. One my wife goes to takes 50.00 out , plus the amount of gas you get. Then , usually in one to two days, the 50.00 is back in the account.
One station, that we won't use again, held 50.00 for seven days!
What gives?
With modern technology, they should get authorization imediatly. And not hold your money.

Answer 1

Here's what happens

they get the Authorization immediately - the $50
that's why you can pump gas

BUT - the credit card company only releases it back to you
once the gas company has submitted their charges

you do not 'lose' any money, just the availability to charge other things

which is tough if you are "at limit"

yeah - seems like it takes forever to come back

my balance is zero every month - - - - - -
and I have not paid any interest on my currect card for the
two years I have held it

all the best

Answer 2

Keep it simple...it depends on the vendor, in your case the gas station that you use...some post do the reconciliation right away, same day, others wait a couple of days....so go to a gas station that process transactions right away.

Answer 3

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Answer 4

some companies hold the transaction so changing interest rates benefit them

Answer 5

yep it varies