Credit card or Not!

[grandpacamper]

Over the last few days I got into the credit card/cash preference circular vortex again. I've got to learn that others opinions are just that - opinions. While I choose to forgo credit cards & opt for mostly cash it's still a touchy point to argue about it. I was not very good with paper, it took me 5 years to arrive at the point I am now, no debt & no credit. As stated it works for me.

This morning I went to our local Home Depot, I piled 5 of the orange buckets with lids & a bow saw I will need for various tasks around my proposed camp setup. When I was ready to check out I passed the self-checkouts, I self-destruct whenever I try to use them. Always seems to have trouble figuring out which side to put the checked items. I refuse to go to them anymore, I also avoid the squawk boxes when stopping for a burger, can't hear & the verbage is full of static never know what I'll be eating when I leave. I like to sit down to dine when I go out.

Back to my HD experience. The only two check stands were the ones at the contractor doors. I walked up behind a woman who was holding 2 tiles. Good I thought this will be quick. Wrong! she was ordering tile for her bathroom. I don't know what her & clerk were discussing (hearing again) but after the clerk tapped her screen several times she had to call one of the bosses to clear it.

After they got back on track I noticed the two people behind me had moved over to the other check stand. The clerk kept glancing at me. I was just standing with my cart smiling. The woman then tried her card. But first she had a coupon, more tapping, clearing & tapping to get the discount. She then swiped her card & what seemed to me like she was typing a book on screen after screen the process was finally ended. She got her receipt walked away, the clerk apologized to me & my only response was, 'Ain't technology great?' This is coming from someone who has been in the tech world for 53 years. It seems that without fail I've never seen anything go right with HD & tech. That experience took 10 minutes, but since I'm retired & not in a hurry at that time I just wanted to time it. I handed the clerk my 2 $20 bills, got my receipt in less than a minute. Walked out with a smile.

Two other things happened on that trip, I was able to buy a bow saw for half of what Amazon wanted saved me $10. The other was to check out the propane tank exchange. I would have to pay Amazon $47 for an empty new bottle. I can buy a bottle no-exchange filled with propane for $48 from HD & the bottle is mine to be refilled over & over. HD charges $15 for an fill up. I'm assuming I can probably save a little if I shop around. Don't know.

 

[TrainChaser]

I'm with you all the way! I do have a credit card, but I use it cautiously. * I * know that it isn't free money, a fact that my sister and BIL haven't figured out all these years (they hit retirement with a load of CC debt).

A credit card can be valuable in an emergency, but many folks just have waaaay too many 'emergencies'.

Keep it up -- you're in the minority.

 

[INTJohn]

@ grandpacamper

lol Dude you sure you weren't at walmart?

HD, walmart any of them I get the same thing. just wana pay cash & git - not turn it into a Social Experience and I'm stuck behind some credit card coupon wielding woman - yes this might sound sexist and maybe thats cause it just might be - but its always a female........and it takes forever.

I rarely go to a store for anything. maybe once a month literaly to buy groceries & gin which is why the experiences are so vivd. Always pay cash and ALWAYs am stuck waiting forever over sum trivial bullshit. The cashiers aren't much better either if any.......

I generally try to go to a male cashier and or only guys standing in line. If these 2 variables faLL into karma line I never have any probs.......

If I only need a few odds n ends I'll go to an old skool mom & pop place where it costs me a lil more in $ but WAY LESS in frustration, drama, time, etc........

thanx; I'll see myself out..............INTJhon

 

[Ballenxj]

Three things that should only ever be used in an emergency are, a gun, AAA road service, and a credit card.
It drives me bat sh*t crazy when I see somebody use a credit card to buy a Snickers Bar, or something similar in value.
That's my story, and I'm sticking to it.

 

[INTJohn]

Three things that should only ever be used in an emergency are, a gun, AAA road service, and a credit card.
It drives me bat sh*t crazy when I see somebody use a credit card to buy a Snickers Bar, or something similar in value.
That's my story, and I'm sticking to it.

and don't forget after they're finally done and you're only seconds away from it finally being your turn........ 

The inevitable; "Oh I forgot; I need 4 lottery tickets & a pack of smokes, yes please put those on my card too."

GAWWD!!!.............INTjohn

 

[Trebor English]

I use plastic to get gas.  It is convenient with the card reader right there on the pump.  I don't use a debit card at a gas pump because they seem to be easily hacked.  Otherwise I pay cash.  

If you tip your waitress with cash there is no loss of 5% to the card company or having to wait a month to get paid by the card company.

Ace Hardware are consistently excellent at the check out.  I have been behind people paying with cash, check, and plastic.  The transactions seem always to go smoothly.  It is a well lubed machine.  It seems smooth even when customers ask questions on the way out.

 

[Every Road Leads Home]

Three things that should only ever be used in an emergency are, a gun, AAA road service, and a credit card.
It drives me bat sh*t crazy when I see somebody use a credit card to buy a Snickers Bar, or something similar in value.
That's my story, and I'm sticking to it.

Actually a gun should be used well in advance of an emergency, otherwise you're not going to be very good with it when faced with an emergency.  

Credit cards have their value.  Pay it off at the end of the month and you have no interest charge, so you're getting free money.  Spend $1000 a month on everything combined or whatever the number may be, that's 30 days your own money can be making interest or stock market gains.  Lots of cards give you cash back, discounts on air fare, reduced gasoline.  If you're using them right they're not only saving you money but making you money and costing nothing to do so.  Takes the right discipline however.

 

[Canine]

I like to use cash because it HURTS to open the wallet and see the funds going away. That keeps my spending down. It's also backed up by research, years ago the credit companies studies showed that people spend on average 30-35% more with a card than if they used cash... Of course they try to get you to use a card... that and all the merchant fees, late payment fees, interest etc...

Look at Christmas shopping...

It's true that if you are very careful you can beat them at their own game but not many people must be as the cc companies/banks make billions off of them annually. Guess why that is?

I have a card and use it for gas only. Can't overbuy gas, once the tank is full that's it. I don't use it in the convenience store as its too easy to put that cup of coffee and donut on the bill...
I've eaten wayyyyy too many donuts in the past, that's why I look like one.

Oh, try to buy an airplane ticket, rent a car or a hotel room without a credit card. Next to impossible...

 

[Canine]

There's several studies, a quick google search (Credit cards make you spend more) showed this one from NerdWallet.inc from July 8, 2014:

"Common sense tells us that certain behaviors are tied to how people pay for goods and services. We would think that the more cash-based a payment is, the more likely people will be cautious about spending. Cash is real. It’s a tangible thing, a piece of paper with value attached to it. When you spend it, you have less of it in your wallet. You see this and process it.

On the other end of the spectrum, we have credit cards. Psychologically, it seems like it would be easier for someone to purchase more because a card, while tangible, does not represent actual money. It’s just a piece of plastic, and a shopper does not see the result of their expenditure for almost a month.

Paying up at McDonald’s, toll booths
It turns out that multiple behavioral economics studies back up these assertions. One of the most often cited studies is one conducted by Dun & Bradstreet, where the company found that people spend 12-18% more when using credit cards instead of cash. McDonald’s reports its average ticket is $7 when people use credit cards versus $4.50 for cash.

Amy Finkelstein’s E-Z Tax: Tax Salience and Tax Rates found that states with highway tolls would raise the cost of the toll rate when the debit occurred using electronic toll collection versus cash payments. These states realize that they can get away with charging more because an electronic debit isn’t seen as “real money” until the statement arrives."

Now that McDonalds lunch bill is more than a 14-18% increase, if my rusty math and fat fingers on the calculator are right, that's a 55% increase...

 

[Ballenxj]

Actually a gun should be used well in advance of an emergency, otherwise you're not going to be very good with it when faced with an emergency. 

I make a big distinction between practice and using. I get plenty of practice.

 

[INTJohn]

I never had a credit card till 1991 and only got it because thats when I went self employed and have only used it for business equipment purchases - mostly in an emergency or for advance payments for my daughters education . If /when I use it, I've always paid it off in 1 month; 2 at most.........

Its scary to even carry it with me I keep it locked in a safe. The limit on it I could buy a small house. Even when the economy went to hell a few years back and they were dropping everyone's limit I kept waiting for it to happen to me and it never did. I just lafft.

I still pay cash for practically everything and now I live like a king on 15,000$ a year and 5000 of that is probably my gin bill. haha!!

 

[Ballenxj]

I still pay cash for practically everything and now I live like a king on 15,000$ a year and 5000 of that is probably my gin bill. haha!!

The beauty of this is you don't have a gin bill because you paid cash.

 

[Every Road Leads Home]

Can we all just agree that people who fill out checks in retail cashout lanes are the worst?

Ha,  I was one of those "worst" about a month ago.  Buying kitchen cabinets for my house remodel and they were $2500 bucks.  My debit card has a $1500 daily limit (Thought it would still go through as credit but it didn't) and didnt want it on my credit card.  So only option left was write a check.....and even worse I had to run out to my truck to get the check book.  

Luckily no one was behind me til I got back in so they only had to wait about 90 seconds.  First time I wrote a check at a store in probably a good ten years.  Probably the last time it ever happens as if I ever have another big purchase like that i'll make sure I have the cash.

 

[akrvbob]

I'm deleting lots of posts.

I don't know what's going on but we've deleted more posts in the last week than we have in the last several months.

I'm deleting two posts in this thread for these sentences:

1) "poorly trained monkeys behind the register"
2) "Bar restaurant employee peeps r lowlife criminal trash till proven otherwise."

As long as I own this forum it will be dedicated to being kind and helpful to other human beings and these kinds of attacks and insults will not be tolerated and will be deleted.

We are approaching zero tolerance for this kind of thing.

Hate whoever you wanna hate, just don't try to poison this forum with it.

 

[TMG51]

1) "poorly trained monkeys behind the register"

That sentence of mine was not hate, more of a mirthful sardonicism.

I always stand patiently while a poorly trained retail employee does things wrong.

 

[Gary68]

mirthful sardonicism.

isnt that some eastern european side dish?

 

[DuneElliot]

I use my credit card for almost everything....BUUUUT I pay it off every two weeks when I get paid. I'm also very disciplined with spending and don't find it giving me spending "urges" or buying any more than I would spend with cash. I do carry some emergency cash and I avoid debit cards like the plague...with CCs you're completely covered against fraud and it doesn't dent your bank account or cause you to be out money that may take weeks to get back.

 

[Ballenxj]

isnt that some eastern european side dish?

Dang, that's what I thought too, but then again, I've been fooled before.

 

[vsession]

I use credit card 100% of the time and always keep around 20-60 in cash just in case. I usually carry that amount for months before using it and I never use a debit card. Every month my bill is paid in full and I never had to pay interest. You get a complete list of transactions which is extremely helpful to put in a spreadsheet for understanding your spending habit (it takes less than 5 minutes a month to do). You can't really cheat with your spending, meaning a 2$ coffee will appear on the credit card bill and you will remember it, when paid cash, you usually forgot about it 5 minutes later. Honestly, I spend less with my credit card that using cash because every month is a remember of that spending, with every transaction, you get more aware that you will see that spending in a month and force you to reevaluate the necessity of that purchase. My strategy may not be for everyone...

 

[VanKitten]

I have two credit cards.

I deliberately use them for a few purchases each month.   Alternating back and forth.   I only want to keep them active in case I ever find myself in a spot where I really need them

So..I run up about $100 and then pay it off on the first of the month..then switch cards and do it again.

A few years ago I had a card company cancel one of my cards due to long inactive status.   I avoid that now.