Cashless society-Do you still carry cash ?

[Akrapovic]

I'm not very familiar with international options for credit cards, but I've covered a bit about why it is a poor decision (if you could pay with a credit card instead) above. It boils down to security, warranties, and discounts. There are certainly edge cases, but speaking generally it's definitely better and I don't think you can really make a case otherwise.

Security, warranties and discounts are part of my debit card and current account. There may be more "edge cases" than you appreciate.

 

[Apple fanboy]

This isn't about you and you keep trying to make it about you. I don't care about what you can get buy with because it's not relevant to the discussion. Even if you had a trillion dollars and you paid for something with a debit card when you could have used a credit card it's still a poor financial decision. You don't even have to "chase" anything, the credit cards give automatic cash back. You just get it and you keep doing whatever you normally do. It's the same amount of work as using a debit card, except you get a discount on whatever you're buying.

I don’t do credit. Avoid it at all costs. But that’s probably off topic.

But as I said above this is really a different topic.

Are yes I see how I’m trying to make it all about me!

 

[smallcoffee]

Security, warranties and discounts are part of my debit card and current account. There may be more "edge cases" than you appreciate.

Your debit card gives you cash back?
[doublepost=1555777165][/doublepost]

Are yes I see how I’m trying to make it all about me!

You keep mentioning what you want/would do and using that in a response as to why other people shouldn't use credit cards.

 

[Akrapovic]

Anyway - on the original topic.

I am 100% cashless in the UK. There are many places which require cash, but these are (generally) limited to small business, or independents. Burger vans, that sort of thing. The majority of stores here have card machines, and I haven't seen one for years that does not include contactless (that is not a petrol pump).

I never carry cash. I use my iPhone or Watch for every transaction other than fuel for my car, and that's purely because the pumps don't support NFC. I can understand why some in the UK still carry cash, but for me I absolutely do not require it anymore.
[doublepost=1555777271][/doublepost]

Your debit card gives you cash back?

My debit card (and bank account) get me discounts at many places. Many places my credit card does not. It would be a very unwise move for me to blindly use my credit card in every situation. And I am not an edge case. I'm with one of the UKs largest banks.

 

[Apple fanboy]

Your debit card gives you cash back?
[doublepost=1555777165][/doublepost]

You keep mentioning what you want/would do and using that in a response as to why other people shouldn't use credit cards.

Actually I’m just putting my opinion across as I’m told that I’m making poor financial decisions! Excuse me for defending my opinion on an open forum. I’m off to go and rethink my life.....
[doublepost=1555777388][/doublepost]

Anyway - on the original topic.

Finally!

 

[smallcoffee]

My debit card (and bank account) get me discounts at many places. Many places my credit card does not. It would be a very unwise move for me to blindly use my credit card in every situation. And I am not an edge case. I'm with one of the UKs largest banks.

As I mentioned - I'm not very familiar with credit cards internationally. In the U.S. this would be a terrible decision because you don't get a discount in 99% of places for using a debit card.

Not to mention if you travel internationally many debit cards charge FTF, etc.
[doublepost=1555777648][/doublepost]

Actually I’m just putting my opinion across as I’m told that I’m making poor financial decisions! Excuse me for defending my opinion on an open forum. I’m off to go and rethink my life.....

Well... you are (most likely). Not using credit cards is a poor financial decision. If you go to, idk, Wal-Mart and buy something - if you buy it with a debit card or cash that is unequivocally a poor financial decision, you're paying more money for the same product than other people. You can't turn around and then say "well it works for me!" - that's not relevant. You could pay for things in dimes and that would "work for you" but it's still not a smart decision.

 

[Apple fanboy]

As I mentioned - I'm not very familiar with credit cards internationally. In the U.S. this would be a terrible decision because you don't get a discount in 99% of places for using a debit card.

Not to mention if you travel internationally many debit cards charge FTF, etc.
[doublepost=1555777648][/doublepost]

Well... you are (most likely). Not using credit cards is a poor financial decision. If you go to, idk, Wal-Mart and buy something - if you buy it with a debit card or cash that is unequivocally a poor financial decision, you're paying more money for the same product than other people. You can't turn around and then say "well it works for me!" - that's not relevant. You could pay for things in dimes and that would "work for you" but it's still not a smart decision.

In your opinion.

 

[Gutwrench]

I mentioned it (not sure if you meant me in this case) because of the interface - extra security and it's better than carrying a bunch of credit cards around. Apple is going to release a credit card soon too, at least in the U.S. .

I wasn’t paying attention to authors. My impression was some references to Apple Pay seemed like an alternative to cash or non-cash. I probably read too much into those.

I agree Apple Pay is convenient and offers some security benefit. I just read Apple is launching Apple Card this summer. Probably a good business move.

 

[smallcoffee]

In your opinion.

Not an opinion though, it's a financial fact.

 

[mrex]

But using a debit card you also lose out on things like cash back, extended warranties, and random things like that, so all else equal it still doesn't make sense to use a debit card for the vast majority of people.

this part of world (north europe) you dont get any benefits of using a credit card - rather if you dont pay it back once, you need to pay interests

i have a credit card only for buying from internet. all others i pay with a debit card. i also have a philosophy - if you dont have money, you dont afford it. all i buy i pay at once. (of course houses are differend thing of course, but generally - i dont even buy a car if i dont have the money to buy it.) it has worked well, and i have zero debt.

 

[Apple fanboy]

Not an opinion though, it's a financial fact.

In your opinion.

 

[smallcoffee]

this part of world (north europe) you dont get any benefits of using a credit card - rather if you dont pay it back once, you need to pay interests

i have a credit card only for buying from internet. all others i pay with a debit card. i also have a philosophy - if you dont have money, you dont afford it. all i buy i pay at once. (of course houses are differend thing of course, but generally - i dont even buy a car if i dont have the money to buy it.) it has worked well, and i have zero debt.

I have zero debt as well - I just pay off the card at the end of the month. If you're an American it's just a bad idea to use your debit card because of all the competition with credit cards. It'll come to Europe eventually, though.
[doublepost=1555780027][/doublepost]

In your opinion.

any % is > 0%

 

[Akrapovic]

Not an opinion though, it's a financial fact.

It's a fact, except for when it isn't.

 

[smallcoffee]

It's a fact, except for when it isn't.

I mean it's fine if ppl don't want to. The interchange fees and stuff just subsidize purchases for me so I get a % off here, 5% off there, etc.

 

[Nhwhazup]

this part of world (north europe) you dont get any benefits of using a credit card - rather if you dont pay it back once, you need to pay interests

i have a credit card only for buying from internet. all others i pay with a debit card. i also have a philosophy - if you dont have money, you dont afford it. all i buy i pay at once. (of course houses are differend thing of course, but generally - i dont even buy a car if i dont have the money to buy it.) it has worked well, and i have zero debt.

I have zero debt also. As I mentioned before - use the credit card for protection, cash back and keeping everything in one place. The nice thing it’s easier to balance my checkbook too as the only that I pay straight from my bank are the monthly utility fees and my one credit card. I have other credit cards all with zero balance but use my main one with cash back.

 

[dontwalkhand]

Thebt

Anyway - on the original topic.

I am 100% cashless in the UK. There are many places which require cash, but these are (generally) limited to small business, or independents. Burger vans, that sort of thing. The majority of stores here have card machines, and I haven't seen one for years that does not include contactless (that is not a petrol pump).

I never carry cash. I use my iPhone or Watch for every transaction other than fuel for my car, and that's purely because the pumps don't support NFC. I can understand why some in the UK still carry cash, but for me I absolutely do not require it anymore.
[doublepost=1555777271][/doublepost]

My debit card (and bank account) get me discounts at many places. Many places my credit card does not. It would be a very unwise move for me to blindly use my credit card in every situation. And I am not an edge case. I'm with one of the UKs largest banks.

Im in the US and I’m 100% cashless. Consequently I am able to use Apple Pay for gas because they replaced a lot of the pumps here in Phoenix! I use Apple Pay a good 90% of the time with the exception being full service restaurants because of chip & signature!

Food trucks etc all have square/PayPal/etc so using a card at those is also no problem. Since Square has a chip reader now, I also use Apple Pay at these. Very little to no cash only places around here. However, there are places that are CHECK only which is worse than cash only as I don’t own any checks! Rent payment etc. though that’s changing as well as they now have a web portal to pay rent by card online, and yes I can even pay rent with Apple Pay now. That being said, I don’t remember the last time I actually handed a business cash, and even longer since I last ever wrote a check.

I do keep a $20 in my wallet. I haven’t touched it in years, don’t even remember it’s there.

As cashless as I am, I’ll gladly accept it from anyone who wants to give me cash, again, because I am sane, and won’t turn down someone handing me money with no stipulations.

 

[Shanghaichica]

Nope I never carry cash on me. It’s Apple Pay all the way or rarely my debit card. I hate carrying cash on me. It’s too much effort to go to the ATM to make sure I have it. Apple Pay is widely accepted in the UK.

 

[dontwalkhand]

Nope I never carry cash on me. It’s Apple Pay all the way or rarely my debit card. I hate carrying cash on me. It’s too much effort to go to the ATM to make sure I have it. Apple Pay is widely accepted in the UK.

I have noticed the declining number of ATMs as a whole here in Arizona as people don’t bother with cash anymore.

 

[chown33]

I feel half-dressed without at least $100 in cash.

Maybe that's because I tape the bills together and wear it like a tailored suit, but we each make the financial choice that fits us best.

 

[millerj123]

I feel half-dressed without at least $100 in cash.

Maybe that's because I tape the bills together and wear it like a tailored suit, but we each make the financial choice that fits us best.

Wow, I can't afford that. I made mine into a Speedo type suit. Sadly, my wife won't let me wear it.

 

[Roller]

I prefer Amex, but some businesses don't accept it, so I have Visa and MasterCard as well. The Amex card is worth it for the high level of service, buyer's protection, and other perks. I also carry a relatively small amount of cash around for when there's no alternative.
[doublepost=1555792584][/doublepost]

this part of world (north europe) you dont get any benefits of using a credit card - rather if you dont pay it back once, you need to pay interests

i have a credit card only for buying from internet. all others i pay with a debit card. i also have a philosophy - if you dont have money, you dont afford it. all i buy i pay at once. (of course houses are differend thing of course, but generally - i dont even buy a car if i dont have the money to buy it.) it has worked well, and i have zero debt.

Many people use credit to purchase things they can't afford. But buying on credit makes sense if you pay off the balance monthly. It also protects you if there's a dispute with the vendor.

 

[Healer Flame]

I prefer Amex, but some businesses don't accept it, so I have Visa and MasterCard as well. The Amex card is worth it for the high level of service, buyer's protection, and other perks. I also carry a relatively small amount of cash around for when there's no alternative.
[doublepost=1555792584][/doublepost]

Many people use credit to purchase things they can't afford. But buying on credit makes sense if you pay off the balance monthly. It also protects you if there's a dispute with the vendor.

Seen many people with 3 or 4 credit cards its crazy. Years ago the only reason i applied for credit card was to hire a car. They won't take anything else but credit card.
I have only one card and its always paid on time. I have to confess though the tap and go made life much easier so am using my card more often than before.

 

[MisterSavage]

Seen many people with 3 or 4 credit cards its crazy. Years ago the only reason i applied for credit card was to hire a car. They won't take anything else but credit card.
I have only one card and its always paid on time. I have to confess though the tap and go made life much easier so am using my card more often than before.

3-4 cards is lightweight for a churner. A friend of mine does that but I just don't have the stomach for it.

 

[0388631]

3-4 cards is lightweight for a churner. A friend of mine does that but I just don't have the stomach for it.

I'm not a churner but I use my cards for the benefits and max them out each year. I've got maybe a little over a dozen credit cards. Matter of fact, I don't really understand churning.

Usually end up getting up to $20,000 cash back a year. I can't name any accessible card as the best because I picked them out for rewards, but I'd say my US Trust card is the best.

 

[dontwalkhand]

Seen many people with 3 or 4 credit cards its crazy. Years ago the only reason i applied for credit card was to hire a car. They won't take anything else but credit card.
I have only one card and its always paid on time. I have to confess though the tap and go made life much easier so am using my card more often than before.

Your debit cards will be getting tap & go soon enough, as Chase, & Wells Fargo are offering contactless debit cards now. So you don't HAVE to use a credit card for tap and go.