Cash or Credit?

[Konaexpress]

Just wondering what most of you do in the field. Do you mostly deal in cash or mostly credit cards? Why on either one?

I would think credit/debit cards are the easiest way to do things but I also like cash as it's nobody's business what I am doing. Saying all this, I also realize it's just a matter of time before we are a cashless society.

John

 

[BradKW]

I always use a card when at a restaurant because I find it simpler to add the tip...

 

[mockturtle]

Cards, usually. Can't imagine gassing up without a card. But I do wish businesses would use the chip reader. The only ones I've found so far that have their chip readers activated are Walmarts. Gas stations, being probably the riskiest, need to get with the program.

 

[ahh_me2]

I try and pay with cash as much as possible and only resort to paying by debit/credit card if I have a specific reason to do so, or in an emergency.
I have no interest in being profiled from my transactions.

 

[Konaexpress]

Except for computer hacking, I think the only times my card info has been stolen is from stop-n-robs now that I think of it.

John

 

[LeeRevell]

Depends on the situation.  I find I tend to use the card more but must be careful.  Of three Credit theft problems two were via PayPal which I avoid now, one due to a criminal credit card company.  I use cash in restaurants if possible.

 

[ramblingvanman]

Cash, cash is king. I use my bank only to receive money through paypal or eft. I leave very little money in the bank. Especially after what happened in Cyprus.

 

[TMG51]

I pay with a credit card for almost everything. I used to use a debit card, prescribing to the philosophy of not wanting to spend money I didn't have, but after the third time having my debit info stolen and having to fight with the banks each time I switched to a major credit card. The credit card companies will always side with you in a dispute because they don't actually have your money yet, you still have to pay them. I always pay off my balance, so I'm not losing money to interest, and it's still good to have in case of emergency.

I hate those damned chip key readers. Their primary function is to cause idiots to bungle up the checkout line.

The three times I've had my debit info stolen each occurred shortly after a PayPal transaction.

I like paying in cash at restaurants. I can leave the money at the table without waiting for a server, and if splitting the bill with another party there's no complication trying to make separate transactions.

 

[Reducto]

I use my Amazon credit card for most things. I get at least 1% back on all purchases, everything shows up in a nice monthly report online so I can see how much I'm spending, and I pay it off at the end of the month so there's no interest. I normally pay the day I get my statement, but if I'm a little broke at the time I can wait a few weeks without penalty.

I'm on the road all the time and hunting for no fee ATMs can be a pain.

 

[USExplorer]

Cash all the way. $20 at gas station register, no fill up. If I need more cash and I'm not in North Carolina, I make withdrawals in $100 increments with every purchase at a Walmart. I keep a checking account for when I'm working, so I can direct deposit paychecks. I don't like to be tracked when I'm traveling, although since I post every detail of my trip on here for the world to see it has become pointless.

 

[Almost There]

A total blend of all three - cash, debit card and credit.

Cash for small purchases, debit card with cash back at the grocery store and credit card for major purchases and gas unless there's a cash price that's cheaper AND I have the cash on hand.

 

[nobodyG17]

Bummer! What happened to you in Cyprus?

Guy

I think they are referring to the Cyprus gov giving peoples savings accounts haircuts.

 

[BradKW]

I rarely use PayPal, but had assumed it was safe...perhaps not

 

[TMG51]

It's not the technology that makes PayPal unsafe, it's because they hire temporary employees. Temp workers get jobs there just long enough to collect a few credit cards, then ditch and and get as much out of the cards as they can. And they get away with it because no one really prosecutes it. I've talked with several LEOs about this.

 

[ZoNiE]

The chip reader isn't any safer. There are already hackings, one of which was cell phones installed in the readers, texting the info from the card to the data thieves...

lots of room in a gas pump for that.

 

[rvwandering]

Cash for everything except really expensive stuff or online purchases.

 

[Canine]

PayPal isn't a bank. It is a private company that doesn't have to follow the rules and regulations of the banking industry.

While banks have an unscrupulous set of rules, at least there is a fair amount of consumer protection.

 

[gcal]

Cash for little things. DH likes his debit card. I am paranoid after an identity theft event and I use a cc because I do not want my actual bank card number floating around out there. Besides, I like the points.

 

[Txjaybird]

Cash, cash is king. I use my bank only to receive money through paypal or eft. I leave very little money in the bank. Especially after what happened in Cyprus.

man oh man....... i'm so outta it that i'm afeared to ask....what about cypress?        texas jaybird

 

[Canine]

Cyprus (not cypress) is a country. Or it isn't depending on which country you are when deciding whether or not to view Cyprus as an independent nation. That is another thread, though.

This whole insolvency thing with banks and how they move their liabilities around to make it look like they are doing well is highly confusing. What I've written below is to the best of my understanding. I wouldn't be surprised a bit if it is wrong, so feel free correct it if you see fault.

Anyhoo, to make a long story short, the bank there more or less declared bankruptcy. Back in the day, the regular folk got priority over the lenders. Now the lenders (banks) get priority, often to the tune of 100%, before any funds are released to the regular folk- the people who have savings accounts, CD's etc. Things like this have happened in the U.S., too. If in the end there is a finite amount of funds because the insurance can't cover it all, we are last in line.

Sometimes the restructuring results in the banks profiting from their mismanagement. That is truly messed up.

Like I said, I'm still learning, so make it right. This is good info to know if one wants to go cash or credit or whatever.