In praise of cash

Re:In praise of cash by giardini on Friday March 03, 2017 @02:35PM (#13785570)

Last year I tired of reconciling my credit card and checkbook accounts, so shifted to using cash only (I have credit cards if there's an emergency). So far I'm spending ~10% less each month. I'm more careful about purchases. I get and seek cash discounts. Best of all I don't need to do the reconciliation.

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Re:In praise of cash by XorNot on Saturday March 04, 2017 @05:22AM (#13790245)

You realize cash discounts exist for precisely two reasons: the merchant avoids the 1.5-3% credit transaction charge, and (2) the merchant gets to under-declare on their taxes.

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Re:In praise of cash by nommm-nommm on Friday March 03, 2017 @04:01PM (#13786500)

Research suggests you are not alone. We spend more when we pay with plastic.

https://www.nerdwallet.com/blog/credit-cards/credit-cards-ma...

https://www.nytimes.com/2016/03/27/your-money/credit-cards-e...

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Re:In praise of cash by rz2k on Friday March 03, 2017 @06:43PM (#13787991)

How do you ask for a cash discount?

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Re:In praise of cash by dougmany on Friday March 03, 2017 @07:17PM (#13788208)

There is a candy store near my house that has a bowl of mixed candy near the register. You can take a piece from the bowl if you pay in cash.

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Re:In praise of cash by Joakal on Saturday March 04, 2017 @12:19AM (#13789421)

I've been doing this by just straight up asking. "Is there a discount with cash?" "No" "Ok, I'll pay with my card"

Merchants prefer cash as card costs them money.

Usually works with dry cleaners, cafes, etc. Big businesses generally say no.

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Re:In praise of cash by OJFord on Saturday March 04, 2017 @01:03AM (#13789561)

Funny, I've always viewed it as a card surcharge rather than a cash discount.

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Re:In praise of cash by nommm-nommm on Saturday March 04, 2017 @12:17PM (#13791818)

Merchants don't always prefer cash. There's trade-offs to both. If merchants always preferred cash then there wouldn't be merchants who go cashless, and there are.

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Re:In praise of cash by mavhc on Saturday March 04, 2017 @08:25AM (#13790792)

Working with cash costs money too, counting, storage, transport, costs to deposit/get out of a bank

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Re:In praise of cash by thinkmassive on Saturday March 04, 2017 @12:34AM (#13789480)

Many gas stations will prominently display the cash/debit price on the big sign, and the credit price may not be visible at all until you get to the pump.

I'm not sure if this is more prevalent in certain regions, because I never noticed it until I drove west from the east coast. First I was confused when I stopped at the cheapest gas station I saw somewhere in Nevada, only to discover it was cash/debit ONLY, and I think there was a 35-cent charge for using debit. After that, in California, I started noticing how easy it is to see the cash price when driving by, but you often have to look closely for the credit price.

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Re:In praise of cash by wyager on Saturday March 04, 2017 @02:02AM (#13789714)

Technically charging less for cash violates merchant credit card ToSs, so big companies don't do it and small companies don't advertise it. If you're making a big purchase you can just ask.

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Re:In praise of cash by icebraining on Saturday March 04, 2017 @09:43AM (#13791071)

I think that TOS clause was overturned by a class action lawsuit: https://consumerist.com/2012/07/13/visa-mastercard-agree-to-...

It seems some states still ban it by law, though.

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Re:In praise of cash by giardini on Thursday March 09, 2017 @03:43PM (#13833391)

Just ask! "Do you give a cash discount?"

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