QuikTrip Corporation > QT Cards (2024)

Thanks for the honesty. We've got several options you may want to consider. In addition to our regular 22-day cycle pay-by-check terms we also have:

• Cash deposits: We can design a program which provides fueling on credit in conjunction with a cash deposit.
• Bank issued letter of credit: This is basically the same as the cash deposit, except it's the letter of credit which provides the security.
• Electronic payment options: We offer a way for you to keep your fuel bill at a minimum by drafting an account of your choice either daily or at other scheduled frequencies. Ask about our incentives on the Electronic Fleet Payment System (EFPS).
• Cross Corporate Guarantee: This program provides a way for a well-established parent company or associated business to co-sign for fueling credit.
• Personal Guarantee: An account is established based on the strength and credit history of a principal within your company.

We hope one of these options, or a combination of these, will meet your needs.

You can check the balance of your QT Prepaid Card by visiting https://prepaidcards.quiktrip.com/BalanceInquiry (must have your pin number) or by calling toll free at 1-800-247-3452, option 1.

Credit:
When you swipe a debit (check) card as credit at a gas pump a message is sent through Visa to your financial institution asking for $1 preauthorization. This is a status check that Visa/MC has approved and guarantees payment to the merchant up to $75. Your financial institution checks the account and sends a message back to the pump with an approval (valid account) or a decline (invalid account). Once preauthorized, you can begin filling your tank. Since banks do not know how much gas you will be pumping, the bank places a limit (hold) on the account for the amount they determine to be sufficient to guarantee payment for the gasoline purchase. The merchant settles all transactions once a day with their processor and the issuing bank receives within 1-2 days. The bank can hold funds against the account until the actual amount is received from the merchant which can take up to 3 days.

Debit:
When you swipe a debit (check) card as debit at a pump and enter your pin number (on-line debit), a message is sent through a network to your financial institution for a preauthorization amount between $75-$100 depending on the price of gas. The bank checks the account and sends a message back to the pump with an approval (funds available) or a decline (funds not available). Once preauthorized, the pump is set to this amount and you can begin filling your tank. As soon as your financial institution receives this request, there is a temporary hold on the account by the retailer. This hold is supposed to last only as long as you pump gas into your car. When you return the pump handle, a message is sent back to your financial institution immediately that completes the transaction and records the actual amount of the purchase. This amount should replace the preauthorized amount. Each debit network has rules on the amount of time the issuing bank can hold the preauthorization, which is normally 2-3 hours. QT has no control over the amount of time a preauthorization is held on a customer account by their financial institution.