Cash/Checks vs. Cards at Restaurants

tummyman · 09-02-2019, 08:47 PM

I also use CC to pay everything...get $$$ rewards back. Mounts up. Have about $1300 in current credits just waiting for me to cash them in. Bank credit card $$$ credits will buy me a new laptop soon. They essentially pay me to use their money...only in America. Just pay the credit card bill once a month before any interest charges. I seldom write a check. If a check is needed, I also have the bank mail it and save the stamp. Monthly bills I have set up to just access my checking account. Saves lots of time.

Descant · 09-02-2019, 09:27 PM

I use CC and cash. It amuses me that people think they're getting something for "free" on a CC. That's like saying "It's free. The government pays for it."
Does "gullible" have 1,2, or 3 "l"s?

joey2665 · 09-03-2019, 04:44 AM

Quote:

Originally Posted by Descant

I use CC and cash. It amuses me that people think they're getting something for "free" on a CC. That's like saying "It's free. The government pays for it."

Does "gullible" have 1,2, or 3 "l"s?

This will open up a whole different conversation. The point and rewards system exists so if you do not capitalize on it then it truly is costing you money for something you are paying for and not receiving

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tummyman · 09-03-2019, 06:25 AM

Since I pay my credit card bill on the day it is due every month and NEVER incur any interest charges, please prove to me that it is costing me money to collect the reward dollars. I will be very interested in your logic, as I firmly believe it has zero cost to me.....only gain.

Biggd · 09-03-2019, 06:38 AM

I always have at least $500 on me at all times but I'm in a business where I receive a lot of cash.
I'm not sure how I will handle this when I retire. I don't know if I will go to the bank every week and withdraw cash or start using my credit cards more.
I do know one thing, I will NEVER own a debit card!

TiltonBB · 09-03-2019, 06:50 AM

Quote:

Originally Posted by tummyman

Since I pay my credit card bill on the day it is due every month and NEVER incur any interest charges, please prove to me that it is costing me money to collect the reward dollars. I will be very interested in your logic, as I firmly believe it has zero cost to me.....only gain.

My perspective is different. Credit cards are a last resort, not the first option.

Whenever I have service or trades people (who take credit cards) work for me I ask "Is there any discount for cash?". Quite often I have saved significant amounts of money. My plumber just took $100 off of a $700 bill. That is significantly more than the 3 to 5% rewards program that some credit cards offer. I had a good sized boat moved and they took $200 off of an $1,800 quote. Again, significantly more than the rewards programs that credit cards offer.

I have someone coming to cut down a tree. I got two quotes in the $1,000 to $1,200 range. I offered cash to a third person and he told me $600. Guess who got the job.

That is the reason for Cumberland Farms gas discount program if you let them debit your bank account immediately. They don't lose CC fees and they improve and speed up their cash flow.

Cash is King!

joey2665 · 09-03-2019, 07:31 AM

Quote:

Originally Posted by TiltonBB

My perspective is different. Credit cards are a last resort, not the first option.

Whenever I have service or trades people (who take credit cards) work for me I ask "Is there any discount for cash?". Quite often I have saved significant amounts of money. My plumber just took $100 off of a $700 bill. That is significantly more than the 3 to 5% rewards program that some credit cards offer. I had a good sized boat moved and they took $200 off of an $1,800 quote. Again, significantly more than the rewards programs that credit cards offer.

I have someone coming to cut down a tree. I got two quotes in the $1,000 to $1,200 range. I offered cash to a third person and he told me $600. Guess who got the job.

That is the reason for Cumberland Farms gas discount program if you let them debit your bank account immediately. They don't lose CC fees and they improve and speed up their cash flow.

Cash is King!

You are correct for small local vendors but after that you are better off using a card with a good reward program.

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Top-Water · 09-03-2019, 07:33 PM

Quote:

Originally Posted by TiltonBB

Cash is King!

For most house hold utility bills checks ... for everything else ..... what you said.

09-02-2019, 09:27 PM	#2
Descant Senior Member Join Date: Mar 2006 Location: Merrimack and Welch Island Posts: 4,378 Thanks: 1,353 Thanked 1,628 Times in 1,060 Posts	Free? I use CC and cash. It amuses me that people think they're getting something for "free" on a CC. That's like saying "It's free. The government pays for it." Does "gullible" have 1,2, or 3 "l"s?

09-02-2019, 08:47 PM	#1
tummyman Senior Member Join Date: Aug 2009 Location: Moultonborough Posts: 840 Thanks: 258 Thanked 687 Times in 244 Posts	I also use CC to pay everything...get $$$ rewards back. Mounts up. Have about $1300 in current credits just waiting for me to cash them in. Bank credit card $$$ credits will buy me a new laptop soon. They essentially pay me to use their money...only in America. Just pay the credit card bill once a month before any interest charges. I seldom write a check. If a check is needed, I also have the bank mail it and save the stamp. Monthly bills I have set up to just access my checking account. Saves lots of time.

The Following User Says Thank You to Descant For This Useful Post:
TCC (09-03-2019)

09-03-2019, 06:25 AM	#4
tummyman Senior Member Join Date: Aug 2009 Location: Moultonborough Posts: 840 Thanks: 258 Thanked 687 Times in 244 Posts	Since I pay my credit card bill on the day it is due every month and NEVER incur any interest charges, please prove to me that it is costing me money to collect the reward dollars. I will be very interested in your logic, as I firmly believe it has zero cost to me.....only gain.

09-03-2019, 06:38 AM	#5
Biggd Senior Member Join Date: Nov 2016 Location: Waltham Ma./Meredith NH Posts: 4,153 Thanks: 2,240 Thanked 1,197 Times in 763 Posts	I always have at least $500 on me at all times but I'm in a business where I receive a lot of cash. I'm not sure how I will handle this when I retire. I don't know if I will go to the bank every week and withdraw cash or start using my credit cards more. I do know one thing, I will NEVER own a debit card!