I guess I'm German. Anyone else here prefer using cash?

[TBman]

Whenever I'm asked if I have cash to pay by a cashier my answer is "No, I'm married."

[jpd]

Originally Posted by TBman

Whenever I'm asked if I have cash to pay by a cashier my answer is "No, I'm married."

I can identify with ya!

[The Growler]

To me it all depends. I pay the credit cards off every month and use them for the points for most things. However, I always carry some cash and will happily pay someone cash if it betters the price which it often does. If not, here's the plastic and I'll take the points.

[robj144]

Originally Posted by MikeBmusic

Funny, it takes much longer for the authorization, PIN entry, etc than me paying cash. The exception would be the little old lady who has to search in her suitcase-sized purse for a few pennies, of course.

I try to pay cash as much as possible - in person, obviously, as online negates that option.

I find that a person paying with cash is rarely ever faster than using a card. Between fumbling with the money and making change, it takes longer almost every time.

I use a card nearly exclusively for the points and a layer of security as well. I particularly love places with Android pay because I pay with my watch and it takes two seconds.

[ManyMartinMan]

So this must be the new pick alternative topic as it seems to come up regularly with the same posts. I will add that the only people making out from the “convenience” of card purchases are the credit card companies. They don’t give you anything. They charge higher merchant rates to businesses to provide you with double points or your bonus cards. That means that we all pay more when purchasing than we would in a cash-only world. Also, they take complete advantage of those not paying off completely every month in (what should be unacceptable) interest rates that are what used to be reserved for loan sharks.

I believe that due to many reasons, not the least of which is untraceability, cash will remain king - for those who have it. Credit will be necessary for those without cash. I travel regularly and almost everywhere I am offered better pricing for cash. I will continue to carry cash for purchases where I can save money for myself and merchants.

[catfish]

The only banking card I currently own is Visa Electron debit card denominated in USD, I use it to buy things online from overseas, all other purchases I make locally with the cash. I carry the equivalent of around 50 USD with me, and I take more, if I'm planning to buy more expensive things.

I think I'm not a German but a Neanderthal. I spend much less paying with cash, it's a long time experience. With a card, expenses fly, and then you scratch your head 'why did I buy this?'.

Most of my compatriots use plastic and phones to pay, this is quite developed here.

We do not travel abroad for the lack of money for the last 6 years, but when we did, I used to have a debit card nominated in Euro -- otherwise, one cannot book a flight or a hotel. Now I cancelled this card as redundant.

[Murphy Slaw]

Originally Posted by ManyMartinMan

the only people making out from the “convenience” of card purchases are the credit card companies. They don’t give you anything. They charge higher merchant rates to businesses to provide you with double points or your bonus cards. That means that we all pay more when purchasing than we would in a cash-only world.

Bingo.

Nothing is free.

[Mbroady]

Points point points
I put everything, (unless there is significant savings with cash) on a card, and always pay off the card at the end of the month. Never get hit with interest. At the end of the year I have enough points on the card to do some traveling, All our summertime festivals are paid for by points

[Mr. Jelly]

I carry cash. Paying by charge card is safer. And faster for me. I pay it monthly and get hundreds of dollars back a couple of times a year. I pay my bills with my charge card also. I get more cash back that way. So for all you people paying cash subsidizing my cash back, thanks.

[Dirk Hofman]

I use cash for craigslist purchases. I use checks...I think when I bought my last house?

Most of my transactions are online. I love, love, love managing my finances with all the great tools available now. Never late for any payment. Always maximizing returns on credit cards.

Apple Pay whenever I can. Cash? Nice to have a few bucks on you, but usually it's less than $40.

Originally Posted by ManyMartinMan

I will add that the only people making out from the “convenience” of card purchases are the credit card companies. They don’t give you anything. They charge higher merchant rates to businesses to provide you with double points or your bonus cards. That means that we all pay more when purchasing than we would in a cash-only world. Also, they take complete advantage of those not paying off completely every month in (what should be unacceptable) interest rates that are what used to be reserved for loan sharks.

All true. That said, it's all well worth the speed, protection, and detailed tracking of using a card.

Regarding charges, I'll wager most of us in this demographic are paying off cards at least monthly, though that lesson is certainly something that took some learnin' when I was a young man.

[fitness1]

I've always got three or four hundred bucks on me - never know when something's going to pop up on Craigslist

[DCCougar]

Originally Posted by Tico

Do you carry cash?

$20-40, but I rarely use it. I always use a card... and take the cash back, which adds up.

[Bridgepin]

I use my card more than I use to, but I also carry about a 100.00 in mixed bills.

I never carry a balance on my CC in 40 years.....PAID IN FULL when the bill comes

[The Bard Rocks]

Being old-fashioned, I have an inherent distrust of credit cards - my friends and family think it's crazy - but I feel safer with cash. No numbers for anyone to steal and my accounting system is set up to work with it. That said, I do have credit cards for internet purchases and a back up just in cash I run out of cash. No one ever got in trouble paying with cash; countless have with cards.

I have had merchants refuse my cash, rarely, but this number will increase. When i pointed out that it was legal tender and had to be accepted, it cut no mustard. Then I realized that if they refused to sell to me, then I had incurred no debt, therefore it was worthless to point this out.

[Inyo]

Originally Posted by Mr. Jelly

Paying by charge card.

I pay it monthly and get hundreds of dollars back a couple of times a year.

So for all you people paying cash subsidizing my cash back, thanks.

The poster unknowingly refers to interchange compensation for credit card issuers who provide rewards (AKA, cash back).

The interchange rate is baked into the price that businesses charge customers. A business partially subsidizes cash back; everybody who purchases items--no matter the means (cash or credit card or even check)--is assessed a kind of credit card tax, as it were.

So the poster is not only helping to pay for his own cash back, but everybody else's, as well.

Consider, too, that some credit card issuers offer 5 percent rewards incentives on specific categories of financial interactions, up to a finite spending cap; that's an amount businesses cannot afford to cover completely without prohibitive price increases that interfere with profitable commerce.

In such an example, the card issuers merely categorize that interchange debit as a loss leader. They're willing to incur the temporary monetary minus in order to secure from the card holder full interchange compensation in the form of additional purchases later on down the line; that is to say, the card holder accrues and subsequently pays more than enough substantial interest to reliably enrich the card issuer, eventually.