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MasterCard to Cap Fuel-Purchase Fees

Contributed by mm | September 6, 2006 5:47 PM PST

WSJ reported today that MasterCard is going to cap the fee it charges gas stations to process credit card and debit card purchases:

"In a bid to soothe unhappy merchants, MasterCard Inc. said it will soon begin posting fees it charges retailers, and will cap fees it charges on fuel purchases.

The changes announced by the Purchase, N.Y., credit-card company come in the wake of dozens of antitrust lawsuits by U.S. retailers and trade groups against MasterCard, its larger rival Visa International Ltd. and many banks that issue their credit cards.

The suits target the fees that merchants pay each time a customer uses a debit or credit card to pay for a purchase."

The credit card industry, over the last three years, has marketed many reward cards with juicy rebates on gas purchases. Now that MasterCard will get less from the stations, does this prelude a further phase-out of juicy gas rebates from reward credit cards?

P.S. Here are some outstanding credit card offers with fat gas rewards:

Citi® Driver's Edge® Platinum Select® Card:
6% Rebates on Gas Station, Supermarket, and Drugstore Purchases for 12 Full Months, 3% Rebates after, and 1% Rebates on All Other Purchases. (Read PFBlog Review and Apply Now!)

Discover® Platinum Gas Card: Full 5% Cashback Bonus® on Gas and Auto Maintenance Purchases* (Read PFBlog Review and Apply Now!)

Chase PerfectCard™ MasterCard®: 6% Rebates on ALL Gas Purchases at ANY Gas Station for the First 90 Days. (Read PFBlog Review and Apply Now!)

This Post Has Received 15 Comments. Share Your Opinions Too.


Marian Commented on September 15, 2006

The cap is for transaction >= $50. And there aren't that many gas purchases over 50 dollars.


Credit Card Offers Commented on March 12, 2007

So far, gas rebate cards haven't been phased by this move. There's still some great offers available (as outlined above). But now that gas prices are starting to fall-- I wonder if they'll continue to be as popular. We'll see...


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