So How Many Of You Prefer To Use Cash Over A Credit Card/debit?

[Root beer]

Setting a minimum to use a credit card is illegal.

 

The rules changed. When I was in college, I did a research presentation on one of those new financial bills that got passed in 2010. I vaguely remember the changes they made in credit cards where card issuers now allow merchants to set minimum payments before accepting.  This section of the bill was irrelevant to my research, thus, I didn't further read into it. I just vaguely remember skimming over it while searching through the bill. (I have photographic memory.)

 

Anyway, I find it annoying when merchants ask to see ID on credit card purchases. Card issuers companies have stated many times as long as the card is signed, merchants are not allow to ask for ID. Bass Pro Shop does this to my dad all the time. He could be buying some fishing supplies, nothing requiring minimum age to purchase, and they just ask him for ID every time. It annoys me and it not even worth the hassle calling out the Store Manager on it.

 

Oh, well, screw it. I got better things to do than mess with Store Managers over this practice.

[SirSnookalot]

Rootbeer is referring to the Dodd-Frank legislation.  It is not illegal to have a minimum amount for credit use, but it is illegal for a vendor to charge a fee or some type of handling charge.

http://www.creditcards.com/credit-card-news/credit-card-minimum-payment-purchases-law-1282.php

[A-Jay]

The rules changed. When I was in college, I did a research presentation on one of those new financial bills that got passed in 2010. I vaguely remember the changes they made in credit cards where card issuers now allow merchants to set minimum payments before accepting.  This section of the bill was irrelevant to my research, thus, I didn't further read into it. I just vaguely remember skimming over it while searching through the bill. (I have photographic memory.)

 

Anyway, I find it annoying when merchants ask to see ID on credit card purchases. Card issuers companies have stated many times as long as the card is signed, merchants are not allow to ask for ID. Bass Pro Shop does this to my dad all the time. He could be buying some fishing supplies, nothing requiring minimum age to purchase, and they just ask him for ID every time. It annoys me and it not even worth the hassle calling out the Store Manager on it.

 

Oh, well, screw it. I got better things to do than mess with Store Managers over this practice.

Well, I'm on the other end of this debate - I want the vendor to see my ID.

 

 In fact, I do not sign my cards with my name - I write "See ID" in that space on the cards.

 

If my cards some how end up in the wrong hands, Joe Shmoe might get my ID as well, but what are the chances he's a handsome as me . . . .

 

 

A-Jay

[SirSnookalot]

but what are the chances he's a handsome as me . . . .

Pretty good.........lol

[Hyrule Bass]

i prefer cash, always have. but i will use my debit card for gas so i can fill up at the pump and for some larger purchases...

[Redlinerobert]

Pretty good.........lol

[Marty]

Is anyone else old enough to remember when credit cards were new, the cashier would have to phone the card company to get approval?

[Fishing Rhino]

Is anyone else old enough to remember when credit cards were new, the cashier would have to phone the card company to get approval?

 

That would be me.

[Bassn Blvd]

Is anyone else old enough to remember when credit cards were new, the cashier would have to phone the card company to get approval?

 

 

That would be me.

 

Phone the CC company? Don't you mean telegraph, hahaha LOL hahaha.

[Fishing Rhino]

Phone the CC company? Don't you mean telegraph, hahaha LOL hahaha.

 

Telegraph?  Heck no!  Smoke signals.

[tomustang]

Depends where I go. Flea/farmers/antique marts go cash. Almost everywhere else is debit.

 

I still carry cash to leave tips but mostly don't carry money.

[SirSnookalot]

My wife is totally opposite of me, if she has 6 bucks on her that's a fortune, I'm always yelling at her sometimes you just gotta have cash with you.

One time when cash was valuable to me was in 1992 down here in Florida on vacation.  We went to visit my f/inlaw  around 8 PM who lived in South Beach, whatever you have seen on tv about South Beach is totally different than it was in 1992. Parking was and is tough down there, I pull into the lot of a run down coop, walked down the block to visit.  45 minutes later I tell my wife, I got a bad feeling about the car, run down to check it out and it's gone.  I can barely make out the phone number of the towing co. on this rusted out sign, call up and the guys says" 92 white eldorado, yeh it's pulling in right now, no checks no credit cards cash only $195 towing and impoundment".  We hop into a cab, cash only, go to this area of Miami Beach that rivaled any slum I've seen in Detroit, pay thu bullet proof glass and off we go.  Has my wife learned anything, no she still carries only $10 she's doubled the amount due to inflation, lol.

[Brian Needham]

I go through phases.......but at the current I have just about everything autodrafted out of the bank account.

 

I use my BPS card a lot for the points and pay it off every 2 weeks.

 

 

Now if I been going to the track or playing cards on a regular basis, I might have 3-4k on me at anygiven time, but in and out of the Track with that kind of paper in the pocket, tend to make me a tad nervous.

 

plus its hard to shop online with cash...

[Fishing Rhino]

I heard something on the news today that the credit card companies and the businesses that accept them have reached an agreement which allows those businesses to put a "surcharge" on credit card purchases.

 

They cannot do it in Massachusetts and some other states because state law prohibits the practice.  Nonetheless, those discussing this agreement told listeners in Mass to check the receipt before signing it to make sure the surcharge was not added.

[SirSnookalot]

According to Dodd-Frank, a state can't add a surcharge or fee.  A state has the right to nullify a federal law, but the supreme court has never allowed states to do so.

[Sam]

I use our house account debit card for household expenses.

 

I use cash for fun purchases and tackle.

 

American Express for COSTCO gasoline for the cars.

 

Wife uses BPS credit card and I use the USAA credit card. This way I can tell what she is buying and if there are any incorrect charges made to the cards.

[Fishing Rhino]

Merchant Surcharging – Understanding Payment Card Changes

 

What is a Surcharge?

 

A payment card surcharge is a fee that a retailer adds to the cost of a purchase when a customer uses a payment card.

Changes to Surcharging Fees in the United States

 

Beginning January 27, 2013, merchants in the United States and U.S. Territories will be permitted to impose a surcharge on consumers when they use a credit card.

Historically Visa has not permitted retailer surcharging, but allowing surcharging was a key provision required by merchants to settle long-standing litigation brought by a class of retailers in 2005.

 

 

States Where No Surcharge Laws Protect Consumers

 

Surcharging isn’t allowed everywhere.

 

Currently, there are laws limiting surcharging in: California, Colorado, Connecticut, Florida, Kansas, Maine, Massachusetts, New York, Oklahoma and Texas.

 

Consumers who are subjected to a surcharge or checkout fees in states where they may be prohibited from surcharging may want to report the retailer to their state attorney general’s office.

 

 

 

http://usa.visa.com/personal/using_visa/checkout_fees/index.html

[SPEEDBEAD.]

Credit card w/ rewards points for everything that will accept it without tacking on and additional fee. I only use it for things that I have the cash for, but try and make it work for me.

 

In all the time I have had a credit card, I have yet to pay a single cent in interest fees. Ever.

[MarkH024]

I carry little cash, use my credit for gas or other large spendings, and I pay my bills with debit. My credit card is paid off every month. I get anxiety if I rack up debt..  It's safer to not carry cash these days, especially in Chicago, murder capital of the US. You can cancel and track credit........not cash.

[SirSnookalot]

I carry little cash, use my credit for gas or other large spendings, and I pay my bills with debit. My credit card is paid off every month. I get anxiety if I rack up debt..  It's safer to not carry cash these days, especially in Chicago, murder capital of the US. You can cancel and track credit........not cash.

If you're going to get held up it's just going to happen, they have not looked into your pocket or wallet first, unless you're flashing Franklin's in a bar or store.

[MarkH024]

Yes but most people are in their 50's or older that get held up or mugged around here. Older people tend to carry more cash than younger folks. They're also less likely to defend themselves or put up a big struggle. Most muggers are not complete morons, they pick their targets.

[SirSnookalot]

Yes but most people are in their 50's or older that get held up or mugged around here. Older people tend to carry more cash than younger folks. They're also less likely to defend themselves or put up a big struggle. Most muggers are not complete morons, they pick their targets.

Quite true, I was mugged twice, in both cases I was someplace that wasn't the safest (Detroit).  Both occasions the perps were on me so fast I had no chance in the world to defend myself.  Once in my 20's and the other in my late 30's, I had a significant amount of cash both times.  Working in and understanding the inner city mentality, I never kept all money in one spot, they took one wad and ran, actually the 2 nd time they took my car too, after they bladed me up a bit.

[MarkH024]

Wow quite the scary experience. Glad you weren't hurt any worse than you were. It's unfortunate things like that have to happen. It's funny how much more deeply I look at these things now that I am a father.

[A-Jay]

Yes but most people are in their 50's or older that get held up or mugged around here. Older people tend to carry more cash than younger folks. They're also less likely to defend themselves or put up a big struggle. Most muggers are not complete morons, they pick their targets.

 

When you live in an area where the vast majority of society is CCW, and everyone knows it - this rarely happens to anyone.

 

A-Jay

[MarkH024]

When you live in an area where the vast majority of society is CCW, and everyone knows it - this rarely happens to anyone.

 

A-Jay

I couldn't agree more. Hopefully our time comes soon.