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Cyclopath
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Cyclopath
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PostTue Mar 19, 2024 9:35 am 
Anne Elk wrote:
banks are taking 3-4% off the top of nearly your entire gross it amounts
Anne Elk wrote:
The fee for debit card use was less, but not sure that's still the case.
I found a $100 in the parking lot where I live. It was an awkward conversation trying to figure out which neighbor it belonged to. They're lucky, normally if you lose cash it's just gone. Cash is also really dirty. Debit and especially credit cards are safer.

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Chief Joseph
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PostTue Mar 19, 2024 11:46 am 
Yea right. I just had to contact about 10 businesses with whom I have my bills on auto-pay because my credit card info was somehow obtained and it's not the first time. Of course you will say that was somehow my fault.

Go placidly amid the noise and waste, and remember what comfort there may be in owning a piece thereof.
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Anne Elk
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Anne Elk
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PostTue Mar 19, 2024 5:08 pm 
Chief Joseph wrote:
I just had to contact about 10 businesses with whom I have my bills on auto-pay because my credit card info was somehow obtained and it's not the first time.
I've never trusted auto-pay for every random bill. The only entity I permit to dip into my bank acct regularly is my mortgage holder. When I signed up for T-Mobile, the monthly cost they quoted was conditioned on auto-pay. OK, I gave them my credit card number. Less than 6 months later, they told me I had to allow auto-pay from my bank account or the new monthly charge would be $X more. I told them to go pound sand. You can't win for losing sometimes.

"There are yahoos out there. Itís why we canít have nice things." - Tom Mahood

gb
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Cyclopath
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Cyclopath
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PostWed Mar 20, 2024 10:38 am 
In one news release regarding the cashless policy at Death Valley, the park service said that the $22,000 in cash collected by the park during the previous year took more than $40,000 to process. https://www.sfgate.com/california-parks/article/cashless-national-park-service-lawsuit-19265876.php

ejain
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neek
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neek
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PostWed Mar 20, 2024 11:28 am 
Anne Elk wrote:
Less than 6 months later, they told me I had to allow auto-pay from my bank account or the new monthly charge would be $X more. I told them to go pound sand.
ACH transfers are cheaper and more secure than credit cards. I'd rather give out my checking account # than my credit card info (although I don't have a credit card.) Some businesses are starting to accept ACH payments because credit card fees are getting so high. Seems reasonable to pass this cost on to consumers who want the "convenience" of effortlessly taking out a high interest loan.

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zimmertr
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zimmertr
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PostWed Mar 20, 2024 11:38 am 
I use cash maybe once a year at most. Basically only when paying pet sitters. Can't imagine paying with debt/check over credit. Once the money leaves your account, even for fraudulent reasons, it's not coming back without a legal battle. Credit card organizations facilitate chargebacks and other forms of buyer protection. I use an Alaska Airlines card for almost 100% of transactions and earn enough points to save a couple thousand dollars annually in airfare. And that's not even a great card. I have never carried a balance so I haven't paid interest on a credit card transaction a single time and I've been using them almost exclusively for over a decade. ACH is slow. Hopefully that gets improved upon in the future with the whole crypto/blockchain nonsense enabling instantaneous digital transfers. (Not saying I want USD to be a form of cryptocurrency, but hopefully the new technology inspires innovation)

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fourteen410, catsp
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Anne Elk
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Anne Elk
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PostWed Mar 20, 2024 12:29 pm 
neek wrote:
ACH transfers are cheaper and more secure than credit cards. I'd rather give out my checking account # than my credit card info (although I don't have a credit card.)
That seems totally counterintuitive, at least where security is concerned. Wasn't that one of the selling points of credit cards? I had my credit card co. phone me once b/c I was obviously in Seattle making purchases and all of a sudden transactions from misc stores in the midwest began showing up.

"There are yahoos out there. Itís why we canít have nice things." - Tom Mahood
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neek
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PostWed Mar 20, 2024 12:48 pm 
Anne Elk wrote:
That seems totally counterintuitive, at least where security is concerned.
Well, tj's right that it's way harder to claw back a fraudulent transaction. But there's way less fraud with this method. Also sounds like it's possible to set up an authorized user list. I should look into that.
zimmertr wrote:
I use an Alaska Airlines card for almost 100% of transactions and earn enough points to save a couple thousand dollars annually in airfare.
Yeah, I get why all the perks drive people to use plastic, but the problem is we all pay for it, even if we use other methods. That's why I don't mind so much when gas stations and other places charge extra for credit, in fact I think this should be universal. To be more on topic...yeah, seems wrong for the government to require you to use a particular 3rd party technology, but I'm afraid that's the way things are going. Would the folks complaining prefer it if the government developed their own technologies rather than relying on private industry? Now if they ever make me get a facebook account, that's where I draw the line.

mosey  Anne Elk
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Cyclopath
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Cyclopath
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PostWed Mar 20, 2024 1:00 pm 
neek wrote:
(although I don't have a credit card.)
I'm about to sign up for the Macy's card to save $100 on a pair of sunglasses. Then I'll pay it off and close the account. Sunglasses were just discontinued, and won't be replaceable if I lose them in a few years. And their perfect, so it's insurance to buy another pair.

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neek
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PostWed Mar 20, 2024 1:02 pm 
Cyclopath wrote:
I'm about to sign up for the Macy's card to save $100 on a pair of sunglasses. Then I'll pay it off and close the account.
As a side effect, your credit score will probably go up. But I still hate that we have to play this game.

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zimmertr
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PostWed Mar 20, 2024 1:09 pm 
I have 7 8 credit cards lol.

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catsp
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Cyclopath
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PostWed Mar 20, 2024 1:25 pm 
In case anybody needs to know, ACH = Automated Clearing House, which is a bank to bank transfer. Takes one day. It's how your direct deposit probably gets in too. It's like a slower wire transfer.

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Cyclopath
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PostWed Mar 20, 2024 1:26 pm 
Kim Brown wrote:
I use ACH for mortgage, all my utilities, car payment, etc etc. Well, everything, actually.
I use a credit card for money I was going to spend anyway, like groceries and car insurance. With the REI card, it's enough for a new Garmin watch every couple years. Same price, just get free goodies back, or not.

catsp
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Cyclopath
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Cyclopath
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PostWed Mar 20, 2024 1:28 pm 
neek wrote:
As a side effect, your credit score will probably go up. But I still hate that we have to play this game.
Not too worried about my credit card score, the only retirement plan these days is dying in a skiing accident.

gb
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Anne Elk
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Anne Elk
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PostWed Mar 20, 2024 2:54 pm 
Cyclopath wrote:
I'm about to sign up for the Macy's card to save $100 on a pair of sunglasses. Then I'll pay it off and close the account.
I just had my Cabela's credit card closed by THEM (after a warning) b/c I wasn't using it enough.* Amazing. * I let them talk me into getting it for the big first purchase discount while I was there buying several hundred dollars worth of stuff before my big XC road trip a few years ago. Haven't used it since. BTW - My still unused SpotGen4 that I was needled into getting for that trip by a worried friend is still FS in the Saloon. Good price!

"There are yahoos out there. Itís why we canít have nice things." - Tom Mahood
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