Credit Vs. Debit At The Gas Pump

A heads up before you fuel up, if you're a member of the State Employees Credit Union (SECU). Starting Tuesday, it makes a difference if you select credit or debit when paying at the pump.

The SECU says selecting credit will now put a $26 hold on your account balance, until the gas station updates the credit union with the actual charge for the amount pumped. In order to avoid the $26 hold, you can select debit, and the actual amount of your purchase will be taken from your account at that time.

If you select credit, the Credit Union will only debit your account for the amount of the final transaction. The $26 authorization amount will be deducted from your available balance until the transaction settles or three business days have passed, whichever occurs first.

Leigh Brady with the SECU says they made the change because they are "trying to mitigate the number of overdraft situations members encounter." She says the credit union came up with the $26 figure after analyzing months of members' gas transactions and noticed that more than 80% spent $26.00 or more each time they got gas.

Brady says the $26 hold only affects people paying with credit at the pump. She says if you pay for gas inside the station you will be charged the exact amount you pump whether you select credit or debit.

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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by WTF SECU Location: Mooresville on Mar 9, 2011 at 05:13 PM
    Money has been tight this month. I had a flat tire and had to pay to replace it this week. I get paid this coming tuesday. I need gas in my car until then. All I could fill up my tank with is $3.05. Wish me luck keeping my job in this already tough economy. If I lose it, thanks SECU. I will be doing my business elsewhere.
  • by Shelley Location: Wilmington on Feb 24, 2011 at 04:44 PM
    Wow, I was surprised when i looked at my account on line and they'd taken $26, I pumped $15.00 in gas. I called the SECU and they explained that to me, but I still don't get the logic. I could of gone overdraft and then I'd be really frustrated. Now I just read you need to press DEBIT not credit. OK. Oh Dear. I will go buy a bra at Belk's tomorrow for $60.00 and they will chrge me $100, what's this world coming to?? And, they haven't reconciled it correctly on my account yet either, today the charge was $20.00, they still owe me $5.00, now i have to call the gas stations corporate office to get that back. Do I really have time for ALL this trouble. Since when is $15.00 not $15.00.?? This is ridiculous.
  • by Larry Location: Manns Harbor NC on Feb 10, 2011 at 07:58 AM
    I cant believe these money grubers want more money are economy is bad so kick us when we are down. I don't remember my NC State employees card ever letting me go over at the pump they claime thats why to many over draft fees. so now you get a NSF fee and a returned check fee. they take twenty five dollars out right off the top while using the pump. hope you aren't on a budget. because the bank will not cover you if you have any checks coming in even if its the twenty five dollars that they are holding.
  • by Anonymous on Feb 3, 2011 at 08:01 AM
    Dang Crooks!!! All of them!
  • by To David Coty Location: Gville on Feb 3, 2011 at 04:35 AM
    I knew about it before WITN reported it. It was right on the front of their website talking about it.
  • by To David Coty on Feb 2, 2011 at 02:13 PM
    If you look on the credit unions website its right there on the right of the screen under Highlights.........
  • by David Coty Location: Durham, NC on Feb 2, 2011 at 01:35 PM
    nice of the credit union to actually inform us before putting this change in place. i had to google it and find out from this site. What a bunch of scumbags! It would not be that big of a deal except they DID NOT LET ANYONE KNOW OF THE CHANGE.
  • by All for SECU Location: Anywhere on Feb 2, 2011 at 07:09 AM
    In response to Formally O.L.I, SECU's main purpose is to help members. When they are in a "tight spot" they do not turn their backs on them and discontinue their services. They look for other options to help them first. They re-finance their previous loans, do debt-consolidation, low interest credit cards and loans, mortgage re-modifications, one-on-one help with keeping their accounts balanced, and address on-going problems with members as best they can. As an SECU member, I have first-hand been able to see how helpful SECU is. Turning their backs on members in a time of need is not the only answer and I commend SECU for implementing other options. SECU is really here to HELP PEOPLE by not only their methods but by what they are. They are owned and operated by volunteers who spend their valuable time to ensure members get all they can. Although they can't please everyone, they do what they think is best and the members understand this and will stand by them.
  • by Anonymous on Feb 2, 2011 at 05:49 AM
    i mean really, it isn't a big deal. Those who are upset about it are most likely those who continuously go in the negative. Just saying.
  • by Anon Location: Washington on Feb 2, 2011 at 05:41 AM
    I'm actually glad SECU is doing this. For years now I've hedged my bets on having that $1 in my account in order to fill the tank up on my next check. In fact I just did it this past week three times and now my account is $100 in the negative until my paycheck, so it will actually put a stop to what I've been doing. The SECU isn't ripping people off but trying to help them, when you do this week to week it keeps shorting your check and tightening your money even more. Also the SECU does offer budget assistance. On another note my ex did this with Wachovia and never paid the balance of over $600 back he just moved his direct deposit to another bank. So, yeah banks are covering there own butts and rightfully so.

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