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

Discussion in 'General Off Topic Forums' started by Quadman2, Apr 15, 2018.

  1. spicer

    spicer Super Member

    Messages:
    1,050
    Others have mentioned here using a debit card keeping a balance to cover expected on line purchases and such, and do not link it to other accounts.... that way, if it is compromised, at worst you are out a limited amount. I do keep one with limited funds for that reason, using it occasionally where cash is not possible. The pres at my local bank told me to do it that way, and also suggested using a credit card because if it is compromised, or lost, it is the bank looking after their money, not you trying to get yours back.
     
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  2. peerson

    peerson Well-Known Member

    Messages:
    630
    Location:
    Kansas City area
    I use credit cards for everything that I can. Never run any balance. Pay them off every month.
     
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  3. vinowino

    vinowino Super Member

    Messages:
    1,254
    Location:
    Cambridge. New Zealand.
    I was telling a freind that I had my credit card stolen. He said "I hope you informed the Police and Bank?".
    I said , No way, the thief is spending less than the wife! :rflmao:
    Seriously , we have used our credit card to buy as much of our needs as possible for the last 35 years. We have never gone past the payoff date, never paid any interest.
    In fact we accumalate hundreds of "points" that give us free flights etc.
     
  4. Cadillac Kid

    Cadillac Kid Addicted Member

    Messages:
    7,063
    On a trip to San Francisco I was working while my wife was hitting up the Union Steet stores. Visa called me on my cell to ask if all the charges on my card were legit.

    Nope not a scam, just my wife on a spree.
     
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  5. whoaru99

    whoaru99 Epic Member

    Messages:
    40,944
    Location:
    LoTL
    I use virtual credit card numbers whenever possible for online purchases. Can set dollar limit, time limit, or both. In any event, once the number is used it is no longer valid. Doesn't matter if a crook gets the number at that point since there's nothing behind it anymore...deadendsville.
     
  6. vinowino

    vinowino Super Member

    Messages:
    1,254
    Location:
    Cambridge. New Zealand.
    Interesting. How does that work.
    I do a lot of online buying.
     

     

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  7. pdm4606

    pdm4606 Super Member

    Messages:
    2,956
    Location:
    Las Cruces, NM
    Plastic????Cash??? All the same in my book. I have a balance every month but mostly from my wife's illness from years ago. Keeping even now.
    Hope to die owing a ton to everyone. Sure am working hard to get to that point.
    The whole system setup by big business is paying off big time for them.
     
  8. whoaru99

    whoaru99 Epic Member

    Messages:
    40,944
    Location:
    LoTL
    It is one of the services provided by my card issuer. I log into my credit card account and click on the generate Virtual Card Number link.
     
  9. richamor

    richamor Blue Collar Subscriber

    Messages:
    2,321
    Location:
    Lancaster, SC
    I generally carry less than a hundred bucks in cash just for the unexpected and for places that don't take plastic. Yep...we have a few of those around here.

    Pay bills online thru the credit union. Around home I use the debit card tied to the checking account. On the road I use a US Bank credit card for business expenses. I like that one because it gives me HD gift cards:) I haven't written a check in 40 years or more and don't plan to. If I need one I go to the credit union and have them write one out.

    Another thing I like about online banking....I can see my balance and pay it off before they send me a bill. I do keep a credit union card with a very sizable limit in just case of extreme emergency. Never needed it but they send me a replacement every 2 years. No balance on the credit card.
     
  10. savatage1973

    savatage1973 Addicted Member

    Messages:
    5,980
    Location:
    NW Pennsylvania snow belt
    I do this as well--compartmentilize. One account for automatic payments, another for on-line discretionary spending, and others for my business. None are linked. So if someone hacks something, you can only get what's there at the time.
     
    spicer and Pio1980 like this.
  11. savatage1973

    savatage1973 Addicted Member

    Messages:
    5,980
    Location:
    NW Pennsylvania snow belt
    Several posts have mentioned the "perks" of using credit cards--the cash back rewards and flight credits, but one thing that hasn't been mentioned are "fuel perks"--I don't know if they exist in all areas, but two of the major grocery store chains in my neck of the woods offer gas/fuel credits based on your total monthly purchases. If you buy gift cards at their stores, it counts toward your fuel perks credits. I am a contractor, and if I know I need stuff from Homey Depot, I'll stop at Giant Eagle and buy hundreds or even thousands of dollars worth of gift cards--get the fuel perks credits and then go spend the gift cards to buy materials and then fill up my truck--sometimes for almost free.
     

     

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  12. hi*ball

    hi*ball Records & Coffee Subscriber

    Messages:
    5,103
    Location:
    San Anselmo, CA
    I use cards for almost everything.
    My gas card gets me $.10 off per gallon
    My Travel Rewards Visa gives me cash back and no international transaction fees
    My ATM card doesn't do much, but I still like it.

    (I always pay off all credit cards each month)

    Cash is pretty much for those shady "Cash Only" places
     
    Last edited: Apr 18, 2018
  13. sanford12

    sanford12 Old Stuff New Stuff As long as it's Good Stuff Subscriber

    Messages:
    3,515
    Location:
    Blue grass country
    We only use credit for travel or emergency and pay it off quickly. More debit, check and cash
     
  14. savatage1973

    savatage1973 Addicted Member

    Messages:
    5,980
    Location:
    NW Pennsylvania snow belt
    Cash Only does not equal "shady". It costs money to accept plastic and not everyone is equipped to accept it. Think about your PayPal account for using Ebay--you pay for that--think about your yard sale/flea market "scores".

    My favorite local pizza joint (established in 1950) accepts only cash--no plastic. They are an old Italian family, with multiple generations working there--only family, there are no outside employees. They make everything in-house--the sauce, the dough, even make their own sausage--closed Sun and Mon for Church and family day. No delivery, open at 4pm and stay open until the daily batch of dough runs out--cash and carry only. If I called and ordered 50 pizzas, they would be closed by 6pm--but they have been around for almost 70 years. When they thought about "retiring" about 10 years ago, the public outcry was so great, that they gave up on the idea and built a new building.
     
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  15. botrytis

    botrytis Trying not to be a Small Speaker Hoarder Subscriber

    Messages:
    29,349
    Location:
    PODUNC USA......
    I only use plastic if I have the cash in the bank account and do not want to carry that amount of money around.
     
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  16. savatage1973

    savatage1973 Addicted Member

    Messages:
    5,980
    Location:
    NW Pennsylvania snow belt
    This is a really morbid financial planning story,, but I'll share it anyways. My one uncle was diagnosed with an advanced stage aggressive form of cancer. He completely remodeled the house, built a new garage, two new Jaguars to put in it and maxed out a bunch of cards--and took out that extra couple bucks a month disability/death insurance for every loan/mortgage/card. My aunt had never worked and her name was on nothing. When he died (which was expected), she inherited everything and none of that debt, because he had signed up for that "insurance". So basically, she got a brand new house and garage, two new cars, his life insurance and pension, and no debt. He basically "set her up for life" while losing his own.
     
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  17. John James

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

    Messages:
    8,211
    Location:
    Piney Flats, Tn.
    That's one way to show your love.
     
  18. pdm4606

    pdm4606 Super Member

    Messages:
    2,956
    Location:
    Las Cruces, NM
    Carry cash??? What for??? I usually may have around $5.00 max at any time. Any more and I use plastic or go without.
    Lots of going without lately. Same with household expenses. Usually have only $100 in checking. The rest of our income(Social Security and a very small USPS pension) goes for paying utilities, food and misc. We hardly drive, never travel so gas is not an issue.
    We got the short end of the stick as far as pensions go. Neither of us have any appreciable income from anything. We figure our old bosses were happier with it, so what the heck.
    Our income is so low that our state ranks us as very poor. We have not had to pay taxes for over 10 years as our combined income is below any state or federal threshold of paying anything. I like it that way. Little use for "keeping up with the Jonses" in our house.
     

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