So, how do you feel about using plastic instead of cash?

Discussion in 'General Off Topic Forums' started by Quadman2, Apr 15, 2018 at 5:43 PM.

  1. Quadman2

    Quadman2 Super Member

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    Just had a look at how the different countries use credit cards and found quite the diversity in how they were used.

    Credit...a good thing, or not?

    Q
     

     

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  2. Cadillac Kid

    Cadillac Kid Addicted Member

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    I use the pastic for everything. Pay it all off every month. Tracks expenses for the business and my CC gives me great consumer protection with extended warranties and CDW on rentals. For example, They just mailed me a check for 500 dollars for accidental damage repair on my iPhone X.

    Plus they pay a cash dividend on every purchase.

    Now I will probably get AK pop up ads for Visa and AmEx.
     
  3. Quadman2

    Quadman2 Super Member

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    Was surprized to see that in the US, most were carrying $9k to $15k each month on the cards.

    Course this was based on only one survey.

    Q
     
  4. John James

    John James "Bob's your uncle" (Stolen) Subscriber

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    I wish cash were possible in all cases but...
     
    Last edited: Apr 17, 2018 at 10:14 AM
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  5. 4-2-7

    4-2-7 Smart Ass Sponsor Subscriber

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    I use cash a lot in some stores, a lot of places will discount a percentage when you pay with cash.
     
  6. thomo57

    thomo57 Super Member

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    I don't like the way governments are pushing for a plastic economy.
    Cash talks at garage sales And markets for example
    Is this the beginning of the end of garage sales and markets or cash purchases
     
  7. usedto

    usedto Lunatic Member

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    Our dentist gives a 10% discount for cash. When you have a $2000 root canal and crown, it's nice.
     
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  8. 4-2-7

    4-2-7 Smart Ass Sponsor Subscriber

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    Yep, it cost them money doing card transactions, so if they can get cash all the better for both parties. And then the fact, they may not report all the cash they take in....
     
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  9. JimPA

    JimPA Distinguished Member

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    Plastic transactions leave a history trail unlike cash unless you spend $10k and over.
     
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  10. rickb119

    rickb119 AK Subscriber Subscriber

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    I use cash for smaller transactions <$100 and card for larger, and at the gas pump.
     
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  11. 4-2-7

    4-2-7 Smart Ass Sponsor Subscriber

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    The same goes for withdraws, one is better off taking out $9800 at a time.
     
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  12. mkane

    mkane AK Subscriber Subscriber

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    card linked directly to savings at the credit union. I could care less about leaving a trail. Let them follow me they might learn something.
     
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  13. JimPA

    JimPA Distinguished Member

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    LOL.
     
  14. Pioneered

    Pioneered Active Member

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    Don't like Credit Cards, there just to dadburn easy to use. I've always looked at it this way, if I can't afford it I don't need it.
    And my needs always cone before my wants no matter what.
    I already have a bad habit of using the dadburn Bank Debit card, although it does save me from spending extra money from time to time
    from sellers that won't take it or can't.
     
  15. After a few severely life-crushing cycles of credit card debt between the early 90s and early '00s, I paid that shit off in full in 2008 and will never look back. Honestly, the amount of credit card debt my wife and I cycled through from our mid-20s to early 30s was simply sickening (both of us will turn 45 in a few weeks). I'm talking about a suburban house-advanced degree-new sports car debt. At one point in time, we had the better portion of ~50 cards between us with potentially three or four maxed out. Upon the aforementioned payoff, I cut up each and every single card via scissors and placed the "shards" in a large sandwich bag that I would glance at occasionally as a reminder of horrible coping skills - in my case, the feeling of "wasting my life away" in psychologically insulting, menial, unfullfilling jobs that I had no business being in. Looking back with brutal honesty, I can admit that I was using plastic to self-medicate feelings of depression, anxiety, and at times hopelessness. A lot of the behavior simply fell away when I realized that my worth had nothing to do with material status, that a house full of "stuff" cannot possibly make one happy, and that I'd prefer consistent peace of mind over cycles of temporary, never-ending novelty that wore off days or weeks after a purchase. The vast majority of the items ended up obsolete, simply tossed in the trash, or donated to the local Salvation Army so as to free up space in our house. My wife of 21 years has the remainder of the credit card debt she accumulated in the form of consolidated loans which are rapidly being paid off and, like myself, she's stated "never again."

    In no way, shape, or form did I attempt to hijack the thread with a "sob story," but I thought I'd share a not-so-frequently discussed reason as to why a good portion of the individuals who accumulate and carry credit card debt, such as those mentioned by AK memeber Quadman2, myself at one time included, act in the manner in which they do. Between relentless societal/cultural pressure to be more, do more, and have more and the oft unspoken fact that life in the lower tiers of our labor market/socioeconomic strata simply don't provide the opportunity to do so leave untold numbers of people perpetually disatisfied and feeling as if "something is missing," that of which many proceed to find via obtaining things/experiences they really don't need, won't truly make them feel any better via credit, and tend to create unwarranted misery. So, in conclusion, how do I feel about using plastic instead of cash? I don't. Period. I will never use another credit card again for the remainder of my existence, continue the decades-long habit of paying my bills on time, and keep my FICO well north of 800 without losing another wink of sleep due to the crippling anxiety that comes with outlandish debt hanging over one's head. Nothing from Best Buy, Circuit City (R.I.P.), Tiger Direct (R.I.P.), or any other retailer I used to obtain temporary "escape" is worth the misery I've lived through. I wouldn't wish it on my worse enemy and would advise any and all who could avoid using credit cards to simply not use them. Unless one has the income to easily pay off the ensuing debt in full the following month, I'd say let the issuing banks find another sucker/slave to prop up quarterly revenues, above and beyond the outrageous "fees" already levied against saving/checking accounts and other miscellaneous services. Being able to breathe easy, relax, and move about without the noose of long-term credit card debt around one's neck is simply priceless.
     
    Last edited: Apr 19, 2018 at 9:05 AM
  16. grillebilly

    grillebilly Empty Head Subscriber

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    I like credit cards due to convenience. Pay them off every month, never once carried a balance. You can see everything you bought at a glance. Cash back, too.
    I generally tip in cash, but not always. Cash is best at bars, too. I hate running a tab, just pay each round.
    My experience is probably not the norm, as the statistics show we spend more than we make. The only thing I have ever paid interest on was my house, and it's been paid off for years.
     
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  17. spicer

    spicer Well-Known Member

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    I never got into the mess you did though I've known a few who did. Myself... over twenty years ago I started paying everything with cash, bills such as utilities via check, pump and entertainment, food, all cash... and never ever buying on credit... no debt, period. After a while I begin to have a real bank account... kept growing, didn't even look at it really, just whatever came in by check got deposited. At some point I realized I needed to do something with the money since banks no longer pay interest.... I now have several houses which I rent, one which I live in, and cars I enjoy and keep maintained... and all I did basically was stay out of debt. Ironically... the banks keeps attempting to send me credit cards... one bank actually sent one, I kept it, never used it, after five years they cancelled it because it always had a zero balance. A home Improvement contractor ran a credit check on me for some work I wanted done... and reported that I wouldn't be approved because I had no credit history, not bad credit, just no credit history... he assumed I was going to finance. I said cash only, a check, and he said 'Ohh... ohh, okay, very well then'.
     
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  18. Pio1980

    Pio1980 AK Member Subscriber

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    Depends. I carry cash and use the card.
     
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  19. Celt

    Celt Super Maude Staff Member Super Mod

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    Don't let this venture into politics, folks.
     
  20. usedto

    usedto Lunatic Member

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    I have found lately that sometimes checks are no longer as good as they used to be. Last year I tried to make a $1200 purchase at Walmart and pay with a check instead of credit card. It was in December, and I wanted the expense for my business before the end of the year. I wrote the check, they ran it through a machine, and said it was denied. I called for the manager, and she explained that they use a third party check clearing company, and if you don't have a track record with them, they won't accept it.

    I left the merchandise behind.
     

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