[Cuervo]

Credit cards are easy and convenient, the problem is they’re too convenient and many people find themselves with large monthly balances that they cannot payoff in one payment. These people find that convenance come at a cost with interest charges. Cash keep these people out of trouble, the major problem with cash is change and what I’m talking about is pennies, nickels, dimes and quarters. I probably have enough coins in my house to build a battleship. I use both cash and credit cards.

[huge-pigeons]

I never carry cash unless going to a garage sale or buying something from marketplace in person, even then I might use PayPal friends and family.
I skip any place that charges a surcharge for using a cc. I use a cc to buy a .88 cent drink at 7 eleven.

[La lamy]

I prefer paying with a card unless it's at a restaurant. It's so weird how they just take off out back with your card before returning. It seems the whole rest of the world brings a hand held computer that works the card and receipt at the table. I also always have some cash available for emergencies, like cards failing to work or city wide internet issues that renders cards useless. It happened to us up north and it was only cash transaction for 2-3 days.

[Jhnidy]

Originally Posted by Toymeister

I get 2.5% cash on every purchase, not just some categories not just some months. 2.5% every month on everything. So the surcharges are easier to swallow.

Alliant Credit union, everyone can join.

Do they have an office near. Site does not mention credit card.

[donfey]

I won't do business with those who DEMAND card only. Simple as that.

[Rzepecki]

Originally Posted by Michael G.

I am really confused about how to pay today using either cash or credit.

Some retailers are taking credit only.
Some are taking cash only.
If you're lucky, some take both.

Then pay fees to withdraw YOUR money from a ATM machine to use cash.
Or use a credit card and get charged 3%-4%.

....then there's those pesky tips that I'll leave for another day

Your Thoughts

As a consumer and because it’s your money, it pays to keep yourself educated.

Use your bank’s ATMs and you won’t pay a fee.

Know which establishments charge a fee for using a cc - they are few and far between - and don’t do business with them. If they can’t afford that business expense, they’re not a secure business.

I’m not confused at all. I use cc for everything, and make money doing so, but I always have cash on me just in case. I pay my cc bills in full every month.

I keep myself educated.

[waterflower]

Because you are over taxed in this country. Money is printed whenever the treasury wants more. Fiat currency = no true value. We need the gold standard.

[Mrfriendly]

Originally Posted by Michael G.

I am really confused about how to pay today using either cash or credit.

Some retailers are taking credit only.
Some are taking cash only.
If you're lucky, some take both.

Then pay fees to withdraw YOUR money from a ATM machine to use cash.
Or use a credit card and get charged 3%-4%.

....then there's those pesky tips that I'll leave for another day

Your Thoughts

My wife the hairdresser always leaves cash tip for servers as she prefers the tax free tip from her client and thinking others in the service industry would like the same. Plus, if I’m leaving the tip she will always add another $5 saying “it’s not enough” lol

[Shipping up to Boston]

Originally Posted by Mrfriendly

My wife the hairdresser always leaves cash tip for servers as she prefers the tax free tip from her client and thinking others in the service industry would like the same. Plus, if I’m leaving the tip she will always add another $5 saying “it’s not enough” lol

Good for her and I agree with the practice!

Watch out though, the ToTV tax collectors will be chiming in shortly on yours!

[retiredguy123]

Originally Posted by La lamy

I prefer paying with a card unless it's at a restaurant. It's so weird how they just take off out back with your card before returning. It seems the whole rest of the world brings a hand held computer that works the card and receipt at the table. I also always have some cash available for emergencies, like cards failing to work or city wide internet issues that renders cards useless. It happened to us up north and it was only cash transaction for 2-3 days.

I agree. A simple solution would be for the banks to require merchants to have a credit card machine at the table. I don't understand why this is not a bank requirement.

[M2inOR]

Originally Posted by Toymeister

I get 2.5% cash on every purchase, not just some categories not just some months. 2.5% every month on everything. So the surcharges are easier to swallow.

Alliant Credit union, everyone can join.

Our Fidelity Rewards+ card gives us back 3% back on all CC purchases, and first year had no monthly finance charge to carry a balance. Eventually paid off balance that first year to take advantage of that 1st year of no finance charges on balances.

Paid card a certain amount each month for first year.

That said, have no problem paying that 2-3% fee some restaurants or businesses charge.

Other alternative is for restaurants and businesses to increase prices or offer discounts for cash payments.

Our monthly payments are made automatically from an investment account that is currently paying us annualized 5.2% interest. Account interest adjusts each week, but has been averaging above annualized 5% for past two years. Ask your advisor about 7-day money market funds that pay that rate for deposits.

[retiredguy123]

Originally Posted by M2inOR

Our Fidelity Rewards+ card gives us back 3% back on all CC purchases, and first year had no monthly finance charge to carry a balance. Eventually paid off balance that first year to take advantage of that 1st year of no finance charges on balances.

Paid card a certain amount each month for first year.

That said, have no problem paying that 2-3% fee some restaurants or businesses charge.

Other alternative is for restaurants and businesses to increase prices or offer discounts for cash payments.

Our monthly payments are made automatically from an investment account that is currently paying us annualized 5.2% interest. Account interest adjusts each week, but has been averaging above annualized 5% for past two years. Ask your advisor about 7-day money market funds that pay that rate for deposits.

According to Fidelity:

"Everyone is eligible for 2% cash back on the Fidelity Rewards Visa Signature Card, regardless of the amount of assets held with Fidelity. However, to be eligible for the Fidelity Rewards+, you generally must have at least $250,000 invested in one or more accounts offered through Fidelity® Wealth Services, Fidelity® Strategic Disciplines, or a combination of the two. In addition to this asset requirement, only individual or joint account registration types are included when determining eligibility."

[M2inOR]

Originally Posted by La lamy

I prefer paying with a card unless it's at a restaurant. It's so weird how they just take off out back with your card before returning. It seems the whole rest of the world brings a hand held computer that works the card and receipt at the table.

Here in The Villages, I've had one of my credit cards compromised at one of the restaurants or businesses here.

That Chase card has all information on one side of the credit card:

Credit card number
3-digit CVC code
Expiration date

It's possible for someone to take a picture of your card and sell that pic on the dark web for others to use.

To prevent that, I use tape to black out some of that info on the back of my card. Still taps or slides without issue.

Got the idea from Apple credit card which has no numbers on card at all.

One other thing I've started doing is using Google Wallet to tap and pay on those terminals that permit it. Apple has the same ability with Apple pay using phone or watch.

I agree, bringing the CC terminal to your table to pay your restaurant or bar tab is the way to go so your CC never leaves your possession. I've been sure to thank merchants who have that capability.

Be careful out there!

PS when traveling, be sure to have several credit cards with you, just in case one of your cards is compromised.

PPS set up alerts to get a notification Everytime your card is used.

[M2inOR]

Originally Posted by retiredguy123

According to Fidelity:
...
"

Yes indeed. The more you have saved, the better the opportunities and benefits you may qualify for. Check with your financial advisor.

Be sure to save for retirement!

Also, check Bankrate.com for other credit card offers that offer cash back and/or no interest charges on balances for a limited time.

Also, the CC companies like Chase, American Express, and others have cash back and discount offers on many businesses you might be using. Be sure to check the benefits and offers for your cards.

[maryannesk]

Originally Posted by Toymeister

I get 2.5% cash on every purchase, not just some categories not just some months. 2.5% every month on everything. So the surcharges are easier to swallow.

Alliant Credit union, everyone can join.

But you only get .25% interest where other HY savings accounts offer over 4% - so there's that