Cash vs Debit

[Jorgen]

Support small business, spend locally and use cash. I pay over 700 a month for the pleasure of accepting cards at my business. Shit sucks, people have no idea how much money the cc companies and card processing vendors are making. By only using cards you are essentially giving ~2% of the national economy to the "bad guys" Think about it.

I get 1% back on every purchase and 5% back on gas, grocery and pharmacy purchases. Sorry it costs you money but that is the cost of doing business, it should be baked into your price structure. If I pay cash I am not getting any portion of the 2% difference so I may as well get something back by using my CC.

[CorvallisBMW]

What's cash/debit? I pay for everything in sexual favors.

[lambo]

My bank has a phone app so whenever I'm curious on where my cash level is at I give it a check and cry

ftfy

[slammin.e28]

ftfy

This is what I do, except I'm in so much debt my tears never hit the ground I'm so deep.

[woodisgood]

I get 1% back on every purchase and 5% back on gas, grocery and pharmacy purchases. Sorry it costs you money but that is the cost of doing business, it should be baked into your price structure. If I pay cash I am not getting any portion of the 2% difference so I may as well get something back by using my CC.

This is the kind of thinking that got us into the mess we are in. My point is that CC companies are taking a huge mount of $ off the top (at the initial exchange of goods or services) from our national economy and nobody seems to give a shit. Have fun with your 1% that was "baked in" therefore your money to begin with

[MAXELHOFF]

I politely refuse to pay additional fees.

This is true. The only reason why business tack on that 45cent fee if you use a card ( however thats way more than they pay per card )

I do not think CC companies allow this additional fee, tacked on. Probably varies by state though.

[Jorgen]

This is the kind of thinking that got us into the mess we are in. My point is that CC companies are taking a huge mount of $ off the top (at the initial exchange of goods or services) from our national economy and nobody seems to give a shit. Have fun with your 1% that was "baked in" therefore your money to begin with

You make a choice as a business owner. I can accept CC's which will likely help increase my total sales but I have to pay a fee for the convinience of my customers or I can skip accepting them and force only cash sales which may reduce my total sales and alienate some customers. You picked the option to accept them, if your total profit before paying the fees doesn't offset the fees then you have the option to not accept these cards and have a higher margin on lower sales. It is a business decision and you have to make it similiar to my decision if I want to use that card becasue it helps me by getting the most cash back every year. I understand your point but you can't blame people for using an option that you have given to them for their payment method, if you cna't afford to get paid in that fashion don't get paid that way but watch possible buyers walk out the door.

This being said if I am buying something from a local vender or mom and pop type shop and I don't have cash I will usually use a debit card and tell them to run it which ever way is better for them. If it is a small purchase I will usually put it off until I have cash because I know the fees are high for people especially since I use AmEx which I understand to be the worst.

[Ryan Stewart]

Support small business, spend locally and use cash. I pay over 700 a month for the pleasure of accepting cards at my business. Shit sucks, people have no idea how much money the cc companies and card processing vendors are making. By only using cards you are essentially giving ~2% of the national economy to the "bad guys" Think about it.

I wasnt aware I was supposed to think VISA is a bad guy. Its a 2% fee for the convenience of not having to fuck with cash.

[Ryan Stewart]

This is the kind of thinking that got us into the mess we are in. My point is that CC companies are taking a huge mount of $ off the top (at the initial exchange of goods or services) from our national economy and nobody seems to give a shit. Have fun with your 1% that was "baked in" therefore your money to begin with

You seem a little nutty. Of course its baked in, its baked in just like the transportation costs of the shit you sell in your store or restaurant. Sure we could all buy local but that means people up north would enjoy some fucking scurvy since fresh fruit is rare in Minnesota in winter.

Its not a rip off, they provide a service. If you dont like it then dont accept credit cards, Ive seen plenty of places that do that. Id have to say seen because I cant say shopped at, I hate dealing with cash.

Like said, cash can easily be stolen/lost and I have to carry around fucking metal when I complete a transaction. If shit happens with my card I call the bank, they refund the money and I get a new card in 3 days.

I do not think CC companies allow this additional fee, tacked on. Probably varies by state though.

Its done on the transaction, not on the card. Typically its two prices. Like a liquor store nearby will have a price but jack that price up 3% for credit. SO they would just swipe for the price+3% an the CC company is none the wiser.

[Court M3]

Cash/credit card what's that? Use either my phone or train pass here (Japan) to pay for items. Both of those are accepted at 90 percent of the places we shop.

[blefevre]

If I couldn't use my CC I would probably curl up in a corner and never eat, drive, or do anything ever again. It's too damn nice not having change hanging around, being able to fight fraud or BS charges and getting free moneyz with rewards.

[AndrewBird]

I hate having coins in my pocket, but that is what tip jars are for.

I like to have $40 or so of cash on my all the time, $5 of it in ones so if I really need it, I can use it, but most of the time use cards.

I fucking hat that soda machines are $1.25 instead of just $1.00 though. You either need a quarter or get 3 back. Lame.

[Wh33lhop]

I seriously hate change so much. It's also annoying as fuck to explain to the cashier that you don't want any god damn pennies.

[BobombETA]

Here is what I've been doing lately:

• Since I'm salaried, I know what I'm making each pay period.

• I also know how much I need for bills and how much I want to save each pay period.

• Once my direct deposit hits I transfer whatever I'm going to save, leave whatever is needed for bills, and withdraw the rest as cash.

• For all intents and purposes my checking account is 'zeroed' at this point, but I leave $1000 in it as an emergency fund just in case. But i pretend it isn't there.

• I use the cash as a visual budget, I don't spend it unless I have to. Everything goes on an American Express, which is required to be paid in full each month.

• I keep the receipt from purchases and set aside enough cash to cover the expense, using the reciept as a divider between that cash and the rest of my spending money in my wallet.

• The reciepts are purged weekly and I deposit whatever I have set aside to cover AMEX charges. When the AMEX bill is due I always have enough to pay in full.

Using this method allows me to maintain a budget, have a regular savings schedule, earn points for money spent, and as a bonus I'm always carrying cash just in case.

It probably sounds excessive doing it this way, but it takes 2 minutes at the end of the day to figure out what you've spent and set aside cash accordingly.

[freeride53]

open up a college checking account with wells fargo.
no bs fees, and it's a clutch way to build credit when you a youngin w/ no scrilla. my credit score is on point and I'm still a teen

i have a regular checking account wit them niggas.