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Convenience Store Decisions: Shell Extends Credit Card Fee Reductions

Company aims to give marketers a break on higher gasoline prices through Aug. 15.

Shell Oil Products recognizes that the rising cost of gasoline is crushing fuel margins and it’s offering its branded marketers a break.

The Houston-based refiner-marketer has extended the temporary reduction of credit card fees for Visa, MasterCard and American Express transactions on all in-store and fuel purchases. This action is intended to continue to ease some of the pressure that the busy driving season can exert on operators through increases to their credit card expenses, the company said. The same temporary rates originally introduced in May, will now be extended until August 15.

Here is the how the discounted rate works:

Regular Fees vs. Temporary Reduction

Visa                   
From 1.95% plus .10 cents per transaction to 1.75% plus .13 cents.

MasterCard
From 2.10% plus .10 cents to 1.90% + .13 cents

American Express
From 2.90% plus .15 cents to 2.70% plus .17 cents

The reduced rate was originally offered as part of a push by the oil company to increase the number of Shell credit card cardholders. In addition to incentives for marketers to promote the Shell Platinum MasterCard, new cardholders received triple rebates for 60 days on all Shell gasoline purchases, oil changes at Jiffy Lube locations and everyday purchases. That means cardholders were earning rebates of up to 50 cents per gallon when using the card for Shell fuel purchases.

The promotional results surpassed the previous campaign’s achievement by 237%. Shell booked 33% more new accounts through the promotion than the target goal, and the number of applications received was 24% greater than the company had forecasted.

by John Lofstock ([email protected])

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