|
Post by richm on Jun 7, 2024 5:41:01 GMT -5
I will use cash, credit, debit as situation dictates. If there is any doubt about anything, it will be my main CC, they afford a lot of protection in payments, getting refunds, etc.
Not a big fan of Paypal or venmoe or whatever. They restrict what you can buy, have frozen people's accounts, and report stuff to the IRS for you. Thanks anyway. I do sell some stuff here and there and put it in paypal but under $600/yr. They don't have my SS# anyway. Signed up before that was mandatory.
Remember my stepson typing in his SS# when activating some kind of gift card. I was like - woah, woah! He told me it is a common ask these days. Dang!
|
|
|
Post by luapnor on Jun 7, 2024 7:19:08 GMT -5
Cards are easier to control when the social credit system is in place.
|
|
|
Post by gandy on Jun 7, 2024 7:23:32 GMT -5
Cards are easier to control when the social credit system is in place. *people
|
|
|
Post by OhMy on Jun 7, 2024 11:44:13 GMT -5
Of all people CAD should know who has to pay. I know who pays. But the consumer still isn't out the money was my point. They are if you raise your prices to cover the credit card charges to your business or you run a gas station with two prices one for cash and one for credit. Myself, I swore off any gas station that had two prices.
|
|
|
Post by cadman on Jun 7, 2024 12:01:09 GMT -5
I know who pays. But the consumer still isn't out the money was my point. They are if you raise your prices to cover the credit card charges to your business or you run a gas station with two prices one for cash and one for credit. Myself, I swore off any gas station that had two prices. My fees got lower over time due to various lawsuits against VISA and MasterCard. I am still part of one that hasn't settled yet. It was a minor change of less than .1% I do not like the two tier pricing either. Chevron is about 2.4% on average for all fees last time I ran the numbers in 2023. That is 8.5c a gallon at $3.50 a gallon, so I do understand why some do it.
|
|
|
Post by swampdog on Jun 7, 2024 13:01:43 GMT -5
One interesting fact on paying tips and other services in cash, is that if the recipient doesn’t pay taxes on it, it can work against them in retirement. I guess if they carefully invested the untaxed cash, it may pay handsomely in retirement.
I carry cash, cc and debit cards. CC is usually for a big ticket item that we just pay off at the end of the month. Amazing everywhere they want us to open a cc for that company to save a percentage of the purchase. Simply tell them politely we have a cc that doesn’t have a balance and that I don’t want another company with our information out there.
One of our favorite BBQ joints loves cash and charges a fee on the use of plastic.
|
|
|
Post by mackeralsnatcher on Jun 7, 2024 13:18:48 GMT -5
My favorite cheesesteak place only takes cash
|
|
|
Post by cadman on Jun 7, 2024 15:54:45 GMT -5
One interesting fact on paying tips and other services in cash, is that if the recipient doesn’t pay taxes on it, it can work against them in retirement. I guess if they carefully invested the untaxed cash, it may pay handsomely in retirement. I carry cash, cc and debit cards. CC is usually for a big ticket item that we just pay off at the end of the month. Amazing everywhere they want us to open a cc for that company to save a percentage of the purchase. Simply tell them politely we have a cc that doesn’t have a balance and that I don’t want another company with our information out there. One of our favorite BBQ joints loves cash and charges a fee on the use of plastic. I have never had to deal with tipped employees, but do know if the employee does not get enough tips to be sure they are making minimum wage, the employer has to pay them more. so some of those tips are getting reported at least. Also many restaurants split tips between wait staff, busboys, etc. so if the busboy sees tips that aren't getting reported and he isn't getting his share, I bet he complains. It can be complicated and I am glad I did not have to deal with it. Reported tips are also considered revenue for the business that is offset by the payroll expense.
|
|
|
Post by ferris1248 on Jun 7, 2024 16:08:45 GMT -5
I always have cash on me. Anything under $20 or so I pay cash. Anything over I use the CC but pay it in full every month. I do not use debit cards.
|
|
|
Post by Captj on Jun 9, 2024 13:24:20 GMT -5
I'll bet you that someday, probably sooner than later, credit/debit cards will be the only source of legal tender. Cash will go away because when they institute a federal sales tax paying cash will be the only way to game the system. Where I live the barter system is still in effect.
|
|
|
Post by cadman on Jun 9, 2024 14:58:16 GMT -5
I have said cash will disappear in the next 30 to 50 years. It is less and less cash used every year, especially by young people. They use their phone and other electronic means. I doubt even credit and debit cards as we know them will be around in 50 years. You just hold up your phone or whatever device people are using then to buy what you want.
|
|
|
Post by mackeralsnatcher on Jun 9, 2024 15:06:59 GMT -5
I know exactly what you are saying cad. Was at my sons a few weeks back and he asked the wife if she would go to trulieve(she has a MM card) and get him some gummies for their upcoming cruise. We get there and he has no cash and says "pops, you have any cash on you?? I open the center console and pull out $100 and hand it to him. He pulls out his phone and venmo's me the $100 It's a brave new world.
|
|
|
Post by Mango Man on Jun 9, 2024 15:23:17 GMT -5
My favorite cheesesteak place only takes cash Here or up north?
|
|
|
Post by mackeralsnatcher on Jun 9, 2024 15:58:36 GMT -5
Delcos in Dunedin on Main St.
|
|
|
Post by misterjr on Jun 9, 2024 16:27:52 GMT -5
I'll bet you that someday, probably sooner than later, credit/debit cards will be the only source of legal tender. Cash will go away because when they institute a federal sales tax paying cash will be the only way to game the system. Where I live the barter system is still in effect. I bought out my car lease last week, and used the cash back in my Discover Card account make the $10,000 down payment.
|
|