Drivers use credit cards to manage gas pain

[unhappycamper]

Drivers use credit cards to manage gas pain
Reuters
By Janet McGurty
Updated: 5:41 p.m. ET Aug. 23, 2005

NEW YORK, Aug 23 (Reuters) - U.S. drivers are relying more on credit cards to cushion the pain of high gasoline prices than they have in the past, according to the National Association of Convenience Stores.

Convenience stores, which sell about three-quarters of all gasoline sold in the nation, have seen the use of credit card purchases for motor fuel rise to 70 percent from about 54 percent last year, according to the industry group.

And drivers are seen reaching into their pockets for plastic more often as they try to stretch their budgets.

<snip>

And with a credit card, that $2.60 plus a gallon can easily morph into $3.00 a gallon if the consumer doesn’t pay off all charges immediately and finance and interest charges start to accrue.

MORE
http://www.msnbc.msn.com/id/9054975

[alkaline9]

1. i can attest to this...

...it seems like every other friday (payday) is getting longer and longer. Stretching that dollar is getting harder and harder. This is part of why the market isn't feeling this awful recession just yet. Just wait until so many millions of Americans declare bankruptcy in the next 3 years. You think BushCo's numbers are bad now... Yet he just keeps digging that deeper hole. This is gonna be a BIG mess for whoever comes into power next. And I really don't think campaigns for the next president will be anything but talks of how to clean up BushCo's mess. This is by far the worst pResident EVER!

[Mari333]

2. 90% of people purchasing food at my store use credit cards

eventually, when the piper comes calling to be paid, the house of cards will fall on these people, and on the economy. None of them look to happy about it, they grumble, and are angry that their lifestyles are being changed. welcome to Bush amerikka. No middle class.If they voted for Bush, let them eat dirt.