Cash or Credit?

60's guy

60's guy

Well-known member
I always use cash at the grocery store, gas station, clothing stores, and hardware stores.
Especially at gas stations where you have to pay .05 cents more per gallon because you're using a credit card. It makes no sense to me that people are willing to pay extra, but to each their own.

If I make a major purchase for the house, like a new hot water heater or stove, I'll use a credit card. When the credit card bill arrives I write a check for the full amount to avoid interest charges.

It's none of my business, I realize. I'm just curious as to whether or not you might agree
that using cash is the better way to go about paying for your needs.

We've all seen those ads on TV by companies the likes of National Debt Relief appealing to credit card abusers. I saw one of their clients on TV (now debt free) proudly posing and holding a $4K Gibson Hummingbird. Nice!
 
I use my debit card a lot and use a credit card only occasionally. I hate paying extra to use a credit card.
 
I was in line at the local Walmart, and a fellow in the line in front of me pulled out his wallet and tried to hand the "cashier" some money, and the lady said "this is a card only line". We were both flabbergasted! I've had that happen at a self checkout before. Credit/debit only. I could almost understand if the machine had run out of bills and was unable to make change, but at a manned cashier line, cash should be a valid means of payment.

I wrote to the manager and complained about it. If I'm buying $25 or $30, fine. I don't need to use a credit card to buy at $3 gallon of milk or a $1.69 dozen eggs!

I remember when they had cash only lines. That was back when credit machines used dialup, so it might take significant time to do a transaction. Of course, I also remember when they would put your card in a little machine and put a paper receipt in it, and go "WHACK". Then you had to sign the paper.
 
TalismanRich said:
I was in line at the local Walmart, and a fellow in the line in front of me pulled out his wallet and tried to hand the "cashier" some money, and the lady said "this is a card only line". We were both flabbergasted! I've had that happen at a self checkout before. Credit/debit only. I could almost understand if the machine had run out of bills and was unable to make change, but at a manned cashier line, cash should be a valid means of payment.

I wrote to the manager and complained about it. If I'm buying $25 or $30, fine. I don't need to use a credit card to buy at $3 gallon of milk or a $1.69 dozen eggs!

I remember when they had cash only lines. That was back when credit machines used dialup, so it might take significant time to do a transaction. Of course, I also remember when they would put your card in a little machine and put a paper receipt in it, and go "WHACK". Then you had to sign the paper.
Click to expand...
I'm so old I remember S&H Green Stamps!
 
I used to have like an 850 credit score but I haven't bought anything on credit in over twenty years, so now I have none. If I wanted something on credit I would have to have the wife cosign, she has all the credit in the world and I made 90% of the money lol.
 
I always carry cash but limit its use for places like small mom and pop type businesses or tipping at restaurants. Here is where it is appreciated most.

Big box stores and such, debit or credit depending on what and where. Credit cards are paid off every month. My business on the other hand carries a line of credit and has its own credit cards. Bigger jobs require I float labor and materials that I don't always have cash on hand for. The cost gets rolled into the bid, so client is the one paying it ultimately. These all get paid off once I get paid.

One place I use credit is with planned purchases and the vendor is offering 0% finance. I just upgraded the monitor in the studio and had $100 off with my Samsung corporate account and 0% interest. Accountant is going to depreciate capital purchases over time, so stretching out the payment a bit makes more sense to me if it costs nothing.
 
I always use credit as long as there is no extra charge which is 95% of the time. I earn points and turn them in for cash and I never carry a balance.
 
We lost the pay extra for payment type years back, although we kept minimum on cards - so you couldn't use a card for low price items, but here in the UK, nobody under 30 seems to use cash. I was in the supermarket and near the tills were the usual approaching sell by date items. I saw some donuts. Reduced to 40p (so around 50 cents US I think) I went to the till and the card machine display said, please use card payments where possible, please. I paid with my card and nobody thought it odd. We have exceptions of course, but many are just people who assume card payments are expensive for the retailer. In truth, cash is far more expensive. My business bank charges me to deposit cash, and electronic works great for me!
 
Similar here, debit/credit card for purchases I'd like a receipt, mostly cash for day to day. For a $32.42 trip to the grocery store I like handing the kid at the register a twenty, a ten, a five, two quarters, two pennies, and watch the fun begin. Sometimes it's good to slow down, way down, and enjoy the simple pleasures in life.
 
Sky Blue Lou said:
I use credit cards in lieu of cash. Never carry a balance past billing,
Click to expand...
Same here. Credit card for almost everything to take advantage of 2% cash back. Pay it off in full when bill comes in.

Don’t use it for gas, since it doesn’t make sense to pay an extra 5% or whatever only to get 2% back.
 
I have two primary credit cards - one personal and one for my business - that I put thousands on every month. I have never carried a balance. They both get zero'd every month - for decades. I enjoy the considerable points/cash-back that accumulates behind the scenes. I use it to buy gear, toys, etc. As well as the option to dispute charges should it come to that. But it hasn't.

I keep emergency cash deeply stashed in my car and at home. It's not uncommon for me to go a year, maybe two, without touching green currency.

Through my bookkeeping software (Intuit QB) - my customers pay a 4% CC/debit transaction fee added to the balance of every invoice for invoices over $500. I absorb the under $500 transaction fees - which is built into my pricing. I encourage everyone to pay by check or electronic debit.

I am not a fan of lending/borrowing money with interest. Ever.
 
Last edited:
When I found out I no longer had credit I was out car buying for the wife in 2007? Salesman asked, I said I have great credit. He comes back after the credit check and says you haven't bought anything on credit in over ten years and you no longer have any. I thought about it for a second and said, you know, you're right, I haven't. I will come back with the wife. I applied at Tractor Supply while in the store. I wanted to buy a lawn tractor for about $3500.00. They turned me down and I said I will be right back with the cash. Paying cash I was able to negotiate the delivery fee of 75 bucks to 0. One good thing. When buying used with cash I refuse to pay sales tax. If they insist, it's a deal breaker.
 
PorterhouseMusic said:
I have two primary credit cards - one personal and one for my business - that I put thousands on every month. I have never carried a balance. They both get zero'd every month - for decades. I enjoy the considerable points/cash-back that accumulates behind the scenes. I use it to buy gear, toys, etc. As well as the option to dispute charges should it come to that. But it hasn't.

I keep emergency cash deeply stashed in my car and at home. It's not uncommon for me to go a year, maybe two, without touching green currency.

Through my bookkeeping software (Intuit QB) - my customers pay a 4% CC/debit transaction fee added to the balance of every invoice for invoices over $500. I absorb the under $500 transaction fees - which is built into my pricing. I encourage everyone to pay by check or electronic debit.

I am not a fan of lending/borrowing money with interest. Ever.
Click to expand...
I can get any car door open pretty quickly. Where do you live?
 
I've never had a credit card in my life and never wanted one and have no intention of ever having one. I also very rarely use cash. At the moment I have about £2 and some change in my pocket. It's been there for ages and I want to get rid of it. I haven't even seen any down-and-outs on the streets to give it to !
Since 1996, I use a debit card. Clever little item. My wife refuses to get rid of her credit card, but in the 27 years we've been married, there has never been a time that the debit card she has could not have done what the credit card she has does. I detest the notion of debt. Even if it's just for 2 weeks. Once the mortgage was paid off, I determined in my head that debt and I were never again to be bedfellows. "Hey Debt, the bed's too big without you......and I like it that way !"
 
I'm currently in the credit card universe - all the way. Once the stores I shop added self-checkout, I went cashless. I don't let the debt accumulate, I pay it off fully in several early payments throughout the billing period. I do try to leave a few dollars unpaid so it comes due at the end of the period - that's just to keep my credit scores from dropping ( > 0% and < 6% usage of total available credit showing at the end of the period can increase credit scores). Mainly, I just use my cards to replace cash and pay them down as soon as they go from pending to posted.
 
You must log in or register to reply here.
Back
Top