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  • ZX9RCAM

    Over the Rainbow bridge...
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    There you go again trying to convince yourself that you are making money off the idea that you get money back from the credit card company. You paid more for the item you bought just so they could give you something back. Pay cash you might pay less.

    Didn't realize Walmart gave a discount for cash....



    ETA: Ninja'd.
    DK Firearms
     

    Domingo

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    Dec 12, 2019
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    McAllen TX
    There is right and there is wrong.

    The failure to acknowledge this is part of what is wrong with today's society.
    I agree, it was written in jest. The temptation would be great, the repercussions would be harder to live with. Constant guilt and worry. Some could deal with it, I believe many could not.... Though they're likely to state a million dollars may make it easier to buy a conscience....
     

    cherok2e

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    Feb 22, 2018
    567
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    Friona, TX
    Wrong again. I have had two different banks restore tens of thousands of $ on several occasions. Most banks do a great job.
    Debit cards are for one purchase. The banks won't accept another charge on the card. The card companies do a good job with purchases you don't receive, purchases warranties (extended), and use controls (notify you of any strange activity even if it's your charge and you didn't let them know you would be traveling). Keeps you from spending and carrying cash.

    A good example of purchases and costs with cards is buying precious metals. This is for 1oz of gold.
    Annotation 2020-05-28 124949.png
     

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    cherok2e

    Active Member
    BANNED!!!
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    Feb 22, 2018
    567
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    Friona, TX
    Didn't realize Walmart gave a discount for cash....



    ETA: Ninja'd.
    Didn't either and the card doesn't give you money back. Try buying things that count with cash, like an ounce of gold.

    Qty (e) Check/Wire, BTC/ETH, Card/PayPal
    1-9 $1,802.13, $1,820.90, $1,877.22
     
    Last edited:

    ZX9RCAM

    Over the Rainbow bridge...
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    May 14, 2008
    59,737
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    The Woodlands, Tx.
    Didn't either and the card doesn't give you money back. Try buying things that count with cash, like an ounce of gold.

    Qty (e) Check/Wire, BTC/ETH, Card/PayPal
    1-9 $1,802.13, $1,820.90, $1,877.22

    If it's not the card, then what gives me the money back that I am getting?

    I have purchased all my gold and silver with a check. It would be stupid to use a card.

    Give me another typical, daily purchase type example....
     

    cherok2e

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    If it's not the card, then what gives me the money back that I am getting?

    I have purchased all my gold and silver with a check. It would be stupid to use a card.

    Give me another typical, daily purchase type example....
    It was an example of paying monthly and they give you money back. You missed my point or I missed the example. I'm sorry I got involved in this cabin fever thread.
     

    ZX9RCAM

    Over the Rainbow bridge...
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    It was an example of paying monthly and they give you money back. You missed my point or I missed the example. I'm sorry I got involved in this cabin fever thread.

    I don't know what you missed.
    You stated the card doesn't give back money.

    I pay off my CC monthly, run zero debt on it, they give me $800-1000/year back.
     

    oldag

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    Feb 19, 2015
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    If it's not the card, then what gives me the money back that I am getting?

    I have purchased all my gold and silver with a check. It would be stupid to use a card.

    Give me another typical, daily purchase type example....
    I think there was one convenience store in Terlingua that gave a 2% discount for cash.
     

    cherok2e

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    I think there was one convenience store in Terlingua that gave a 2% discount for cash.
    There are places with discounts for cash, which is what the gold graph shows. When you get that $800-$1000/yr back it's because the retailer marked the merchandise up so the rest of us help you get it.
     

    rotor

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    There you go again trying to convince yourself that you are making money off the idea that you get money back from the credit card company. You paid more for the item you bought just so they could give you something back. Pay cash you might pay less.
    I always pay my total bill monthly.

    My way of looking at it is simple, if it costs the same cash or credit card use the credit card and see the cash back in your account. If it costs more with credit card then weigh the benefits that a credit card gives vs the savings of cash. I just never see a cash discount in stores I use although I do see a rare surcharge like when renewing a DL or car registration on line in Texas.
    If you have ever had a product not arrive or arrive broken or the wrong item, the value of letting the credit card help with the debate and get you a refund is valuable.

    I personally don't buy precious metals but let's say you pay by check and that 1 oz gold piece doesn't show up; you might have quite a fight getting your money back. You do know that when you buy insurance and the product doesn't arrive it is the shipper not the recipient that gets the insurance money.

    Assuming you pay on time completely every month, the seller bears the cost of the purchase. I was in a service based business, my charge was the same cash or credit card, I knew that I was paying for the use of the credit card but cash instantly vs mailing bills and getting paid months later (or never) made accepting credit cards a very favorable choice and a welcome choice. Cash flow is what keeps most business going.
     

    cherok2e

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    Feb 22, 2018
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    I always pay my total bill monthly.

    My way of looking at it is simple, if it costs the same cash or credit card use the credit card and see the cash back in your account. If it costs more with credit card then weigh the benefits that a credit card gives vs the savings of cash. I just never see a cash discount in stores I use although I do see a rare surcharge like when renewing a DL or car registration on line in Texas.
    If you have ever had a product not arrive or arrive broken or the wrong item, the value of letting the credit card help with the debate and get you a refund is valuable.

    I personally don't buy precious metals but let's say you pay by check and that 1 oz gold piece doesn't show up; you might have quite a fight getting your money back. You do know that when you buy insurance and the product doesn't arrive it is the shipper not the recipient that gets the insurance money.

    Assuming you pay on time completely every month, the seller bears the cost of the purchase. I was in a service based business, my charge was the same cash or credit card, I knew that I was paying for the use of the credit card but cash instantly vs mailing bills and getting paid months later (or never) made accepting credit cards a very favorable choice and a welcome choice. Cash flow is what keeps most business going.


    Well, I'd say you got everything figured out quite nicely. Just so you know I've never had any trouble getting the gold or silver delivered. You have to be smart about who you do business with.
     

    ZX9RCAM

    Over the Rainbow bridge...
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    May 14, 2008
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    The Woodlands, Tx.
    There are places with discounts for cash, which is what the gold graph shows. When you get that $800-$1000/yr back it's because the retailer marked the merchandise up so the rest of us help you get it.

    I reckon that a "thank you" is in order....
     

    oldag

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    There are places with discounts for cash, which is what the gold graph shows. When you get that $800-$1000/yr back it's because the retailer marked the merchandise up so the rest of us help you get it.
    Well, perhaps where you shop they offer cash discounts. I can't remember the last time I saw one.

    And yes, everyone contributes to the pool to a degree.
     

    Axxe55

    Retiretgtshit stirrer
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    Dec 15, 2019
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    Lost in East Texas Elhart Texas
    I always pay my total bill monthly.

    My way of looking at it is simple, if it costs the same cash or credit card use the credit card and see the cash back in your account. If it costs more with credit card then weigh the benefits that a credit card gives vs the savings of cash. I just never see a cash discount in stores I use although I do see a rare surcharge like when renewing a DL or car registration on line in Texas.
    If you have ever had a product not arrive or arrive broken or the wrong item, the value of letting the credit card help with the debate and get you a refund is valuable.

    I personally don't buy precious metals but let's say you pay by check and that 1 oz gold piece doesn't show up; you might have quite a fight getting your money back. You do know that when you buy insurance and the product doesn't arrive it is the shipper not the recipient that gets the insurance money.

    Assuming you pay on time completely every month, the seller bears the cost of the purchase. I was in a service based business, my charge was the same cash or credit card, I knew that I was paying for the use of the credit card but cash instantly vs mailing bills and getting paid months later (or never) made accepting credit cards a very favorable choice and a welcome choice. Cash flow is what keeps most business going.


    Most anyone that honors using a credit or debit card, charges from 2% to 5% in fees that is added to the total cost of the item. They are transaction fees. Plus then factor in the interest rates the credit card companies are charging to use their credit cards. And not EVERYONE pays their balance off at the end of the month and the credit card companies are counting on that.

    So IMO, the "cash back" incentives are nothing more that a huge scam to entice people to use a certain credit card company.

    You may think you are getting money back, but I seriously doubt that you are, and even if you are, I doubt it's very much more than if you had just paid cash and was done with it.

    So far, I haven't seen anything that would convince me to go back to using a credit card again. BTDT, and not going back.
     

    Axxe55

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    Dec 15, 2019
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    You are entitled to believe what you wish.

    I get money back, sorry you don't believe it.

    It's only $50-75/month, but it's something.

    Let me put it this way. Credit card companies are in the business of loaning money then making money off the money they loaned. They are charging you interest on that money, along with fees to use their card for you have access their money.

    How long would anyone stay in business, if they were just breaking even or losing money? Without profits, no business stays in business very long.

    I don't dispute that you get the $50 to $75 back at the end of the month. But I'm pretty sure they made a lot more than that off the sale of he items that you bought. Maybe not directly from you, but in the bigger picture, the seller paid a transaction fee when he allowed you to access his credit card machine.

    I know this to be a fact because my brother utilizes a credit card machine for his business. It costs him 1.2% for every transaction he does with credit cards. So he charges more for credit card sales than cash sales. Now for him, this is about convenience because a LOT of people use credit cards, and many of his corporate accounts use credit cards for their maintenance and repair shops for keeping track of their expenses. Also, credit card sales are deposited directly into his business accounts. Many of the companies he deals with have moved away from using purchase order numbers for billing and have gone to using credit cards instead.
     

    oldag

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    Let me put it this way. Credit card companies are in the business of loaning money then making money off the money they loaned. They are charging you interest on that money, along with fees to use their card for you have access their money.

    How long would anyone stay in business, if they were just breaking even or losing money? Without profits, no business stays in business very long.

    I don't dispute that you get the $50 to $75 back at the end of the month. But I'm pretty sure they made a lot more than that off the sale of he items that you bought. Maybe not directly from you, but in the bigger picture, the seller paid a transaction fee when he allowed you to access his credit card machine.

    I know this to be a fact because my brother utilizes a credit card machine for his business. It costs him 1.2% for every transaction he does with credit cards. So he charges more for credit card sales than cash sales. Now for him, this is about convenience because a LOT of people use credit cards, and many of his corporate accounts use credit cards for their maintenance and repair shops for keeping track of their expenses. Also, credit card sales are deposited directly into his business accounts. Many of the companies he deals with have moved away from using purchase order numbers for billing and have gone to using credit cards instead.
    No one is arguing that transaction fees are not charged. Of course they are. The point is, almost no main street businesses offer cash discounts anymore. Please note I said "almost" and not "none".

    And the credit card companies primarily rely on interest charges and fees from those who do not pay off their balance each month for their profit. Read their financial statements and you will see this is the case.
     

    Axxe55

    Retiretgtshit stirrer
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    Dec 15, 2019
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    Lost in East Texas Elhart Texas
    No one is arguing that transaction fees are not charged. Of course they are. The point is, almost no main street businesses offer cash discounts anymore. Please note I said "almost" and not "none".

    And the credit card companies primarily rely on interest charges and fees from those who do not pay off their balance each month for their profit. Read their financial statements and you will see this is the case.

    I agree with what you are saying. But in reality, how many people are actually paying off their credit card balances every month? If I had to hazzard a guess, I would think it's a very small number of customers who actually do.
     
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