Wall Street

Gas stations can now charge a $175 hold to credit, debit cards

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Visa and Mastercard have raised the limit on credit and debit card holds a gas station can place when paying at the pump to $175, up from $125, according to a Wall Street Journal report. According to Kelley Blue Book, gas stations do this because they have no way of knowing how much gas you are going to buy. But for those alarmed by this practice, you shouldn’t fret as long as you have enough money in your account to cover the hold. Otherwise, you might trigger overdraft fees on your account, according to AAA. Usually the gas stations release the hold after a few hours and only charge you for …

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