The Cashless Society Is Here......

[robj144]

To me it's stupid to use cash when, like others have said, if you use a CC and pay it off every month, you get rewards. I get between $600 and $800 back from rewards every year.

I even open CC's just to get the introductory rewards bonuses.

[Nyghthawk]

I carry very little cash. I use a debit card for most things. I cut up my last credit card in 2000. I do not miss it. Other than student loan I have no debt. I do not plan on ever having any.

[robj144]

Originally Posted by Nyghthawk

I carry very little cash. I use a debit card for most things. I cut up my last credit card in 2000. I do not miss it. Other than student loan I have no debt. I do not plan on ever having any.

Every time this comes up, I feel compelled to mention it. You really shouldn't use a debit card like a credit card. For one, if it gets hacked the money comes straight out of your bank account. Also, credit cards offer other benefits as far as consumer protection goes.

I have zero debt (except for mortgage) because I set up my credit cards to automatically pay the full balance every month. It's much better than a debit card.

[muscmp]

where have you been?

altho, i did think about that when a disheveled, red faced man asked me for spare change outside the grocery store. i told him i have no change as i use a card. then, i felt bad and remembered i had change in my car that i never use so i gave him that change.

play music!

[Nyghthawk]

Originally Posted by robj144

Every time this comes up, I feel compelled to mention it. You really shouldn't use a debit card like a credit card. For one, if it gets hacked the money comes straight out of your bank account. Also, credit cards offer other benefits as far as consumer protection goes.

I have zero debt (except for mortgage) because I set up my credit cards to automatically pay the full balance every month. It's much better than a debit card.

I never let anyone auto-debit my bank account. If that credit card company gets hacked the hackers will have your account information including routing numbers. Consumer protection, yeah right. I'll trust a CC company with protecting me when a certain mythical place freezes over.

[muscmp]

Originally Posted by robj144

Every time this comes up, I feel compelled to mention it. You really shouldn't use a debit card like a credit card. For one, if it gets hacked the money comes straight out of your bank account. Also, credit cards offer other benefits as far as consumer protection goes.

I have zero debt (except for mortgage) because I set up my credit cards to automatically pay the full balance every month. It's much better than a debit card.

i follow this method. can even pay down some of the credit card payment with the points you receive.

play music!

[Tyeetime]

Originally Posted by robj144

Every time this comes up, I feel compelled to mention it. You really shouldn't use a debit card like a credit card. For one, if it gets hacked the money comes straight out of your bank account. Also, credit cards offer other benefits as far as consumer protection goes.

I have zero debt (except for mortgage) because I set up my credit cards to automatically pay the full balance every month. It's much better than a debit card.

Not entirely true.
I use a debit card for 90% of my purchases. I have a reward (cashback) program and my bank offers theft protection. I have a credit card for emergency needs.

Having said all of this, I am a bit hypocritical. I think we need cash as a way to keep everyone honest. Cash allows for an underground economy if taxes get out of control. And the whole tracking thing concerns me.

[HHP]

The 'cashless society" is like the flying car, we keep hearing its coming but it never quite makes it. Cash and currency has, and will continue to have, a significant place in the economy. If for no other reason, its the only way to maintain anonymity in a transaction.

[robj144]

Originally Posted by Nyghthawk

I never let anyone auto-debit my bank account. If that credit card company gets hacked the hackers will have your account information including routing numbers. Consumer protection, yeah right. I'll trust a CC company with protecting me when a certain mythical place freezes over.

Routing numbers are public. Trust me, you don't want to have your debit card hacked and $1000's pulled directly from your bank account.

Also, getting card rewards is a no brainer.

[RedJoker]

Originally Posted by HHP

The 'cashless society" is like the flying car, we keep hearing its coming but it never quite makes it. Cash and currency has, and will continue to have, a significant place in the economy. If for no other reason, its the only way to maintain anonymity in a transaction.

I don't know, I think it's more like the regular car than a flying car. It's absolutely here, but you can still choose to ride a horse if you want. You can absolutely go through life without cash today, but many simply chose to still use cash. I agree that cash / barter will never fully go away, just like other means of transportation never fully go away.

[Nyghthawk]

Originally Posted by robj144

Routing numbers are public. Trust me, you don't want to have your debit card hacked and $1000's pulled directly from your bank account.

Also, getting card rewards is a no brainer.

Trust me, you don't want a company that charges people usurious user fees to have you bank account and routing numbers. It's really a no brainer. Card rewards...LOL.

[robj144]

Originally Posted by Nyghthawk

Trust me, you don't want a company that charges people usurious user fees to have you bank account and routing numbers. It's really a no brainer. Card rewards...LOL.

I've been doing it for 15 years without problems and I've gotten probably close to $10,000 back in rewards during that time. In fact, in the last year and a half, I have about $1,500 in rewards.

But, you do whatever you want.

[imwjl]

This isn't new. I recall it happening decades ago when having charge and debit cards became common or popular.

The carrying a knife and cash have become more popular. There's a whole cult or thing EDC, preppers, and a society that seems to want to be super prepared. There is a lot of paranoia going around. Instead of getting our info from a few networks we get it from all sorts of places so a lot of unconventional ideas and thought gets around.

The new and nice stuff is EMV, encryption and wireless payment. Heck with cash or a card or letting someone see your wallet or phone. Pay with your wrist watch. It seems like many don't understand that Apple Pay never gives the merchant your card number. That's smart whether the customer or the merchant.

[Long Road Home]

On a lighter note, I remember walking into a local shop a few years back, and they had a sign at the register that said something like:

Methods of Payment
We accept:
Credit and debit cards
Personal checks
Cash (with 3 forms of ID)

Count me among the people who have different credit cards and pull the one out that will maximize the cash back, depending on what I'm buying. I pay all bills on-line out of a special account that I have set up for only on-line transactions. I do carry around $50 in cash, refuse to use a debit card (except at an ATM) for the security issues people have talked about here.

[Tico]

I always pay with cash, unless buying online with my VISA card.

I've never had cash turned down, anywhere.

If my cash was refused I'd walk out.