Quote:
Originally Posted by Chatbrat
My bank provides me with an ATM card & in this world what do you need cash for? You are literally p--ing thousands of $$ a year by paying cash-if you pay your credit car on auto pay nothing to work about--5% back for groceries, 3% back dining out , 1.65% on all other purchases and other variable cash back when using your car ,5% back for streaming & cell services --believe me cash in this day & age is dumb
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The credit card companies wouldn't and couldn't exist if people weren't carrying balances month to month. So, even with "cash back" or "points", they're making out just fine. I always pay my full CC balances each month, but lots don't. And the card issuers are doing great.
Additionally, in some areas/states, gasoline is higher if paid with a credit card vs. a debit card. Some might find the difference negligible, but we seem to judge price differences on percentages and in context to what something would otherwise cost, vs. the actual $$ of what we pay with one method vs. another. If a fill-up is going to cost $2.00 more with a CC vs. a debit card, that leads to debit card purchases.
I will use my CC wherever I can for purchases because of the protection factor and the points, such as they are. But I'm not ditching the debit card. I do have digital notifications set up on my debit card where any purchase/transaction over $5 triggers a text or email to me. I can lower that $5, of course. But I would know instantly if my card was hit.
For the previous poster's "tipping" issue - I tip in cash, not with a CC or debit card. Of course, it takes cash to tip in cash, and that comes from a debit card, in my case. I'm thinking most people who work in a business where tips would be expected would - if ranking the choices - prefer cash tips vs. something on any kind of card where they would have to wait (and hope) for management to disburse the tips.