Cash-less Businesses

Page 5 of Has anyone come across a business that no longer accepts cash? I... 98 comments | 2064 Views | Go to page 1 →

  1. #61
    UKMustangFan's Avatar
    Join Date
    Jan 05
    Location
    Family of 4, coming January 2019...
    Posts
    63,758

    Quote Originally Posted by GrantNKY View Post
    I’m not doubting that but where did you get that data from?
    All sorts of studies out there come to the same conclusion. I was a bit off on my #'s though. This Business Insider article puts it at 12-18% more.
    Advertisement

  2. #62
    GrantNKY's Avatar
    Join Date
    Sep 14
    Location
    Be the person people are talking about, not the person talking about other people.
    Posts
    12,384

    When I was younger, my parents would always withdraw cash from the bank when we went on vacation instead of just using their debit cards and I never understood why. It drove me nuts. They still do it when they go somewhere and it just blows my mind.

  3. #63
    TheDeuce's Avatar
    Join Date
    Sep 04
    Location
    It's hard to be humble when you're as great as I am." - Muhammad Ali
    Posts
    51,605

    Quote Originally Posted by plantmanky View Post
    Using a debit card for anything is a really bad idea, trust me.
    A ridiculous take.

  4. #64
    UKMustangFan's Avatar
    Join Date
    Jan 05
    Location
    Family of 4, coming January 2019...
    Posts
    63,758

    Quote Originally Posted by TheDeuce View Post
    A ridiculous take.
    Aren't they all?

  5. #65
    Randy Parker's Avatar
    Join Date
    Dec 08
    Location
    In the snow, laying there like a slug
    Posts
    66,280

    Quote Originally Posted by GrantNKY View Post
    I’m not doubting that but where did you get that data from?
    Quote Originally Posted by UKMustangFan View Post
    All sorts of studies out there come to the same conclusion. I was a bit off on my #'s though. This Business Insider article puts it at 12-18% more.
    Dun & Bradstreet study says 12-18% more when using credit as opposed to cash.

    McDonald's average single transaction increased from something like just under $5 per to just over $7 per in the year when they first introduced credit cards.

    Credit Cards Make You Spend More: Studies - NerdWallet

  6. #66
    Randy Parker's Avatar
    Join Date
    Dec 08
    Location
    In the snow, laying there like a slug
    Posts
    66,280

    Studies show that when you spend with cash it activates the pain censors of the brain, whereas spending with credit cards "anesthetize the pain of paying."

    Spend 'Til It Hurts - Carnegie Mellon University | CMU

  7. #67
    TheDeuce's Avatar
    Join Date
    Sep 04
    Location
    It's hard to be humble when you're as great as I am." - Muhammad Ali
    Posts
    51,605

    Quote Originally Posted by UKMustangFan View Post
    Because it's easier to stay on budget that way. The average person spends somewhere between 15-20% more each month when using plastic compared to cash.
    I've always been a card only kinda guy, but I've often wanted to take out x amount of dollars for let's say lunch for the week and that be all I use.

  8. #68
    woodsrider's Avatar
    Join Date
    Sep 04
    Posts
    20,334

    Quote Originally Posted by GrantNKY View Post
    When I was younger, my parents would always withdraw cash from the bank when we went on vacation instead of just using their debit cards and I never understood why. It drove me nuts. They still do it when they go somewhere and it just blows my mind.
    We always take most of our money in cash when we go on vacation. I have this fear of being on vacation and my card gets shut off for some reason.

  9. #69
    UKMustangFan's Avatar
    Join Date
    Jan 05
    Location
    Family of 4, coming January 2019...
    Posts
    63,758

    Quote Originally Posted by woodsrider View Post
    We always take most of our money in cash when we go on vacation. I have this fear of being on vacation and my card gets shut off for some reason.
    We take our debit cards with us, but we always pay for everything in cash on vacations. IMO, it's especially helpful when out of town to keep you from overspending.

  10. #70
    Randy Parker's Avatar
    Join Date
    Dec 08
    Location
    In the snow, laying there like a slug
    Posts
    66,280

    Quote Originally Posted by TheDeuce View Post
    I've always been a card only kinda guy, but I've often wanted to take out x amount of dollars for let's say lunch for the week and that be all I use.
    I'm a cash only guy except for an occasional online purchase, but the appeal of the credit card is the convenience of the thing. At least for me.

  11. #71
    HammerTime's Avatar
    Join Date
    Jan 05
    Location
    "Most great people have attained their greatest success just one step beyond their greatest failure." - Napoleon Hill
    Posts
    72,164

    I have no doubt in my mind I spend more with a card than I would with cash. With that being said I pretty much use my credit card for everything, and pay it off each month. I got about $600 in cash rewards last year on it.

  12. #72
    TheDeuce's Avatar
    Join Date
    Sep 04
    Location
    It's hard to be humble when you're as great as I am." - Muhammad Ali
    Posts
    51,605

    Quote Originally Posted by HammerTime View Post
    I have no doubt in my mind I spend more with a card than I would with cash. With that being said I pretty much use my credit card for everything, and pay it off each month. I got about $600 in cash rewards last year on it.
    Worth it.

  13. #73
    coldweatherfan's Avatar
    Join Date
    Oct 05
    Location
    Somewhere between the mist and the moonlight
    Posts
    9,941

    I have a Southwest card. As far as miles go, it seems to be the best for the casual flyer. Southwest is great, they are just not in the smaller cities.

    Mrs C flies for work at least 3 out of 4 weeks. It's United and Marriott all the way.

    United and Delta are pretty even on their points and perks. United is slightly better if you're a super user like Mrs C. Can't go wrong with either.

  14. #74

    Join Date
    Jan 11
    Posts
    8,350

    Quote Originally Posted by GrantNKY View Post
    I currently only have 1 credit card but Ive been toying with the idea of getting a delta credit card simply based on the fact that you get a free checked bag. That alone is worth it if you fly even a couple times a year. If you travel a lot you would be an idiot not to have a delta card. Its literally free money.
    I have 3. One Amex Delta Card, an Amex Everyday card, and a Cash back card. I use the delta card for all my work expenses and travel (roughly $1k/month), the everyday card for groceries (you get a bonus) and all my utility bills. I can then covert those points to my delta rewards after collecting them at the bonus rates. For everything else I use the cash back card. Doing it this way normally gets me a free flight for 2 to almost anywhere, and a couple hundred back in cash every year.

  15. #75

    Join Date
    Jun 08
    Location
    In the Garden
    Posts
    20,192

    Quote Originally Posted by GrantNKY View Post
    If you lose your wallet and someone takes your cash then you cant get that back. You can get your money back if you use a card.
    True, but your only out the cash in your wallet. Give someone your card, you could be out all the money you have. Debit Cards, bad idea.

Top