High gas prices have opened up credit card companies to raise the amount that could be placed on hold in your account.
According to The Wall Street Journal, Visa and Mastercard are allowing gas stations to place up to a $175 hold on someone's account to make sure they can pay for fuel.
The card companies raised the amount from $125 earlier this year.
Holds typically fall off accounts within a few hours, but the money set aside counts against the user's credit limit or available account balance.
That means people could easily overdraw their accounts temporarily.
If you are paying for gas with a credit or debit card, you might want to check your account to see if a hold has been placed before you spend more cash.
Read more here https://nypost.com/2022/06/27/gas-stations-reportedly-put-holds-of-up-to-175-on-card-swipes/?utm_source=NYPTwitter&utm_medium=SocialFlow&utm_campaign=SocialFlow