As Prices Soar, Drivers Use Credit Cards More
Whether unprepared, unwilling or unable, more and more drivers are managing rising gas prices by using credit cards for a temporary payment delay. According to the National Association of Convenience Stores, credit card purchases for gas are currently at 70 percent, up from around 54 percent last year While credit card purchases offer consumers an interest-free loan for about a month, the bill still comes due. Drivers who fail to pay off their credit card bills each month could eventually pay much more for that fill-up due to interest charges.
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