terrible news: Cash still king for many consumers

[hegemony]

http://www.chainstoreage.com/article/cash-still-king-many-consumers

 

even worse is the use of debit...

[VintageWillow]

That makes no sense to me. I have been able to convince my mother to use her rewards card more, but she insists that food- especially restaurant/fast food MUST be pad in cash...

[Zobelle]

Because.....

 

 

I mean, you tip in cash if the service is beyond excellent but besides that, everything credit.

[mendelssohn]

Cash is subprime. I once heard someone say that.

[Zobelle]

Cash is filthy.

[hegemony]

That makes no sense to me. I have been able to convince my mother to use her rewards card more, but she insists that food- especially restaurant/fast food MUST be pad in cash...

too funny!

 

frankly I love being able to track such purchases so I can budget better. cash is only preferred for larry flint's house.

[drew4]

It makes no sense to me either, and I am a millennial! I've had the same 3 twenties in my wallet for 4 months, and have yet to spend them. I think I have used cash once in the past year, and that was only because a cab driver refused to take a card. Other than that, EVERYTHING goes on a rewards card.

 

Also, who the hell uses the debit option? It makes absolutely no sense. Even if I was going to pay for something with my debit card, I always use the credit option.

 

ETA: The only thing things that require payment in cash are illegal.

And even with that, I hear that some "street pharmaceutical representatives" accept credit cards through the square...

Edited January 22, 2016 by drew4

[NorCalR1]

This is a bit surprising.....

 

Grocery Store: Cash: 52% runner-up Debit at 51%;

I can't remember that last time I saw anyone pay with cash.

[hegemony]

This is a bit surprising.....

 

Grocery Store: Cash: 52% runner-up Debit at 51%;

 

I can't remember that last time I saw anyone pay with cash.

granny wrote a check in front of me yesterday. I didn't mind as I had 16 items in the 15 items line.

[TheVig]

Maybe the underlying issue is these people have Chocolate Goodness credit and are not admitting it during these surveys.

[cashnocredit]

Because.....

 

 

I mean, you tip in cash if the service is beyond excellent but besides that, everything credit.

 

My average tip is 30%. More if the service is great and we just add the tip on the CC receipt's tip line. Years ago I only used cash at restaurants because I had a debit card cloned from a restaurant swipe visiting LA and the bank got hit for over 5k by the clowns. Since I moved to CCs I started using them everywhere and haven't had any restaurant card compromising issues to date.

[almostanonymous]

The only things that should be purchased with cash are those that cannot / should not be traced back to you.

[domainstar]

millennial here. I've had Chocolate Goodness credit a long time. Just got my first cc in 8 years this past October. I use my debit card at Costco b/c I don't have an AMEX. I got an OpenSky Visa because Costco is moving to Visa at the end of March.

 

Until a week ago paid my bills on my debit card. I think it was NateinVA who showed me the light. All my cards (3 of em) are secured and not rewards cards, but I am learning. But until I got more active on CB, I didn't know these things. It's not like we learn these skills in school.

 

As Donald Rumseld said, "There are known knowns. These are things we know that we know. There are known unknowns. That is to say, there are things that we know we don't know. But there are also unknown unknowns. There are things we don't know we don't know." In this credit game, folks don't know what they don't know.

[ProcessServer]

It makes no sense to me either, and I am a millennial! I've had the same 3 twenties in my wallet for 4 months, and have yet to spend them. I think I have used cash once in the past year, and that was only because a cab driver refused to take a card. Other than that, EVERYTHING goes on a rewards card.

 

Also, who the hell uses the debit option? It makes absolutely no sense. Even if I was going to pay for something with my debit card, I always use the credit option.

 

ETA: The only thing things that require payment in cash are illegal.

And even with that, I hear that some "street pharmaceutical representatives" accept credit cards through the square...

 

 

That's true and many medical marijuana dispensaries accept credit cards as well.

[cashnocredit]

I love that Rummie line. Applies to a lot of things.

[andersons]

My mother writes checks at the grocery store. She has never gotten an ATM or debit card. She does have a couple credit cards but will only use them for certain specific things. I've never figured out her wacky rules for what can go on the cards, although I do know that airline tickets go on the Amex Gold because of the "Travel Accident" insurance. She repeatedly reminds me that if her plane goes down, we will get a million dollars or something. I think Amex Gold is the worst Amex possible from a cost:rewards perspective. She's had it for like 25 or 30 years.

[themanwhocan]

This is a bit surprising.....

 

Grocery Store: Cash: 52% runner-up Debit at 51%;

 

I can't remember that last time I saw anyone pay with cash.

 

I'm too logical/literal minded. They gave 4 examples, and in 3 of them the percentages add up to over 100% As that makes no sense, what is it they are really trying to say?

[Konrad2012]

http://www.chainstoreage.com/article/cash-still-king-many-consumers

 

even worse is the use of debit...

This doesn't surprise me at all. Look at the explosion in the last 2 years of prepaid debit cards which we all like to exploit for M$, but were/are really intended to serve the unbanked. 10% of the country is on govt assistance, by way of debit cards.

 

Also depends on where you live. Come to Newport Beach and see how many people are paying in cash at the supermarket. Not very many.

Edited January 22, 2016 by Konrad2012

[IndyPoolPlayer]

 

This is a bit surprising.....

 

Grocery Store: Cash: 52% runner-up Debit at 51%;

 

I can't remember that last time I saw anyone pay with cash.

granny wrote a check in front of me yesterday. I didn't mind as I had 16 items in the 15 items line.

 

I don't know about your grocery stores but here they scan the check and hand it back to you.

[Zobelle]

You should have put it on your card and had her write check to you. She's good for it i'm sure.

[hegemony]

 

 

This is a bit surprising.....

 

Grocery Store: Cash: 52% runner-up Debit at 51%;

 

I can't remember that last time I saw anyone pay with cash.

granny wrote a check in front of me yesterday. I didn't mind as I had 16 items in the 15 items line.

 

I don't know about your grocery stores but here they scan the check and hand it back to you.

 

that part was fast, but finding check book in purse was a task

[Konrad2012]

That's the next M$. Instead of panhandling, you can sit outside a grocery store and hit up shoppers to let you purchase their groceries with your 5% cb card.

[Zobelle]

That's the next M$. Instead of panhandling, you can sit outside a grocery store and hit up shoppers to let you purchase their groceries with your 5% cb card.

Or office max

[christmascheese]

Yeah, it makes a lot of sense:

 

Convenience store purchases: 63% + 41% = 104%

Grocery Store: 52% + 51% = 103%
Restaurant: 53% + 48% = 101%

[Konrad2012]

Yeah, it makes a lot of sense:

 

Convenience store purchases: 63% + 41% = 104%

Grocery Store: 52% + 51% = 103%Restaurant: 53% + 48% = 101%

And that's the cash and debit stats. So there's a negative anount of CC usage.