Every Tank Of Gas You Buy Could Cost You $120

Are you like millions of people who pay for their gas with their debit card? I was.

Let me say that again, but with more passion:  I WAS!!!!! But no more.

About a month ago, my wife went to get gas and then went to the store. The next day, she was balancing the check book and the checking account showed that the $30 of gas she purchased was being charged as $75. So she called the store, who referred her to the corporate offices and, in fact, they can charge that as a "HOLD", which is released the next business day...not the next day...the next BUSINESS day. Meaning, you buy $30 of gas on Friday at 6pm, they don't have to "RELEASE" the remaining amount back to your account until 10am on Monday. Granted, some banks release the money within 20-30, most do not.

Wait a minute! How does $30 of gas get charged as $75?

Well, it gets even better. A gas company can you charge as much as $500 for EVERY TANK OF GAS YOU PURCHASE!!!

But wait, there's more...seems as though, if you don't have the "HOLD" amount in your account, you will be declined to purchase the gas. This is like having $50 in your account and needing to only get $20 of gas, but not having $75, $120 or up to $500 in your account, you lose out.

Now if you are wondering if this is legal, it is 100% legal.

How do you get around this "HOLD" issue? Simple answer: Pay Cash. Or if you can, pay with a credit card. One more area that I learned you can do use your Visa/MC Debit card as a credit card. The fewer chances for anyone to peek into your account to see how much money you have, the better.

Now, the key is to see if you can find the gas pumps that let you know that you are being charged and for how much. Good luck. Many do not.