[Michael G.]

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[Topspinmo]

Originally Posted by Michael G.

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I think it will be wave of future, only debit or credit cards, and of course fees. Cash will be phased out. That way they can track every transaction. It starts with penny.

[Velvet]

Yes, the more it costs me to use the credit card, the more likely I will pay cash instead.

[tophcfa]

Hmmm, I see it the other way. I want to pay for many things with cash and am being forced to pay using other methods. Cash is king, and it’s not subject to digital theft.

[jimhoward]

So many businesses now charge a 2 or 3% premium to use a credit card.

I used to charge everything on credit cards. I had an automatic record of my expenses which credit card companies organized for me, and I got various rewards like airlines miles and cash back. And the prices were the same. Pay everything off every month and there were no interest charges. The world was good from where I stood.

Now that merchants charge for credit cards, I pay more by cash or check or ACH. I don't like it, but it is what it is. I thought checks were going the way of the dodo bird, but not anymore.

[justjim]

So some (not all) of the merchants charge 2% if you use a credit card. But the credit card company pays me back 2% (sometimes more) for using it. It’s a wash…. In addition, I get to “float” my cash for several days a month too. Wait, not so fast, I’m still going to use my credit card and pay it off each month.

[wikolia]

with a fee being charged to paying my CDD Monthly even by ACH...I'm left with no choice but a cash payment...

[dewilson58]

"You" have always been paying for the use of a CC.
(the cost was included in the food costs)

Now, since it's being itemized........cash payors are getting a discount.

[Bill14564]

Originally Posted by wikolia

with a fee being charged to paying my CDD Monthly even by ACH...I'm left with no choice but a cash payment...

There is no fee if you sign up for electronic payment.

I believe there is no fee if you use your bank's bill-pay system.

[CoachKandSportsguy]

Originally Posted by justjim

So some (not all) of the merchants charge 2% if you use a credit card. But the credit card company pays me back 2% (sometimes more) for using it. It’s a wash…. In addition, I get to “float” my cash for several days a month too. Wait, not so fast, I’m still going to use my credit card and pay it off each month.

some maybe, but what happens is that the credit card company increases merchant fees to use the card to be able to increase (give better rewards) to card holders. . but the cardholders aren't getting all that much of the increase if VISA/Mastercard etc the companies are growing at an oligopolistic rate, not at a commodity rate. .

in a supermarket, the fee is spread over a large quantity of products. .
at a gas station, the fee is 99% direct with 1 product

so whether you pay in cash or credit at most companies which don't offer a discount, like a gas station, you are paying for the merchant fee in the current price. .

I went to pay at Chipotle yesterday, and the chip card reader didn't work, the tap didn't work, the cashier then grabbed my card and tried to swipe it. I blocked that to prevent the skimmer from working. . then the cashier said that i had to use exact change because she has no change. .

i gave $14.00 for a $13.80 tab and told her my card worked all day elsewhere. . . . and left,. . they are still trying to get your information. .

[ToniPaul]

Personally I hate being forced into using a card. Too many places now tout “we’re a cashless company “ and force me to use a card. Most of the time this makes them lose my business because I just won’t do it.

Originally Posted by Michael G.

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[Rsb23]

Originally Posted by justjim

So some (not all) of the merchants charge 2% if you use a credit card. But the credit card company pays me back 2% (sometimes more) for using it. It’s a wash…. In addition, I get to “float” my cash for several days a month too. Wait, not so fast, I’m still going to use my credit card and pay it off each month.

I only charge my purchase and bills to my credit cards and use cash if I have to. The benefits, for me, far outweigh the costs. Most billers don’t charge me for using my card. This year I’m staying at a hotel for 5 nights that would cost me in the mid 300 dollars per night and it’s costing me zero and I still have points available if I choose to use them.

The fee that the credit card companies charge are paid by the merchant Not by me. Sometimes I run into a request for cash and a savings of 2 or 3 percent, but that is rare. I’ll stay with using credit over cash if I can.

[retiredguy123]

Originally Posted by wikolia

with a fee being charged to paying my CDD Monthly even by ACH...I'm left with no choice but a cash payment...

I pay using my Truist ACH bill pay system and pay no fee. This is a manual payment, not autopay.

[bowlingal]

90% of the time I pay in cash. NEVER at a gas station. No scammers/skimmers for me! I especially don't like that Publix makes you use a cc in the self checkout.

[westernrider75]

Originally Posted by CoachKandSportsguy

some maybe, but what happens is that the credit card company increases merchant fees to use the card to be able to increase (give better rewards) to card holders. . but the cardholders aren't getting all that much of the increase if VISA/Mastercard etc the companies are growing at an oligopolistic rate, not at a commodity rate. .

in a supermarket, the fee is spread over a large quantity of products. .
at a gas station, the fee is 99% direct with 1 product

so whether you pay in cash or credit at most companies which don't offer a discount, like a gas station, you are paying for the merchant fee in the current price. .

I went to pay at Chipotle yesterday, and the chip card reader didn't work, the tap didn't work, the cashier then grabbed my card and tried to swipe it. I blocked that to prevent the skimmer from working. . then the cashier said that i had to use exact change because she has no change. .

i gave $14.00 for a $13.80 tab and told her my card worked all day elsewhere. . . . and left,. . they are still trying to get your information. .

So are you saying there was a skimmer on the credit card machine inside Chipotle? That is quite an allegation, did you speak to the manager?