View Poll Results: How do you pay - cash or card?

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  • Always with my card

    13 17.33%
  • Mostly with my card

    41 54.67%
  • Mostly cash

    17 22.67%
  • Always cash

    3 4.00%
  • I can't decide

    1 1.33%
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Thread: How do you pay - cash or card?

  1. #101
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    Re: How do you pay - cash or card?

    Quote Originally Posted by Dragonfly View Post
    Isn't this a simple matter of asking your bank or lending institution how they deal with stolen debit cards or numbers?

    Talk to your bank. Don't listen to stories from people.

    Actually talk to your bank and ask questions. Specifically about fears of debit card fraud and how you'd be protected.

    Doesn't that make more sense?
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  2. #102
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    Re: How do you pay - cash or card?

    Some things require a card, such as purchasing online, buying an airline ticket or renting a car.

    Also, large amounts of cash are not secure in terms of the police and government. If you are carrying cash any police officer and the TSA/DHS can seize it and basically just keep it. We have done fairly big ticket cash purchasing on cars we traveled to pay for and pick up - not willing to pay until we see it and wanting the car when we do - usually arriving on a weekend. However, in carrying such cash we only have 1 theft concern - and a real one. That government or armed robbers in police uniforms (because they are police) will rob us of the money.

  3. #103
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    Re: How do you pay - cash or card?

    I love how people keep saying that the government wants to track down every transaction. As if private companies don't have an interest in recording their every movement in a way that is fireproof, water damage proof, theft proof, accessible to workers and most of all transferable. Not to mention it's pragmatic to work with cards for accounting reasons, marketing reasons, etc. But nooooooo! It's the government. We know banks and major companies would rather work like it's the 1910s again.
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  4. #104
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    Re: How do you pay - cash or card?

    Quote Originally Posted by brothern View Post
    LMAO! I don't care about "factually true" in all instances. It has been my past job in the financial services to encourage both financial safety and literacy. In this case, it's the point that debit cards should only be used for (1) ATMs or (2) cash back services. Most everything else should be put on credit. It's a proactive step to ensure both your financial health and mine.

    Secondly - just because you feel a false sense of security that your bank can bail you out (or your assertion that they will), is exactly the attitude that causes issues like the 2008 financial crisis or our astronomically high levels of personal indebtedness. It's the unwillingness to understand or take ownership over the fact that you're being financial reckless with your money.
    ... Maybe I'm wrong... but wasn't the financial crisis caused in large part because people put things (such as houses) on credit and then could not meet the terms and conditions of the credit given when an economic slump took place? So how do you reconcile these two sentences.
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

  5. #105
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    Re: How do you pay - cash or card?

    Quote Originally Posted by Hatuey View Post
    ... Maybe I'm wrong... but wasn't the financial crisis caused in large part because people put things (such as houses) on credit and then could not meet the terms and conditions of the credit given when an economic slump took place? So how do you reconcile these two sentences.
    Yes-ish. I'm referring to the attitude, not the credit.

    Many of those who took out home loans (esp. ARMs) were operating under the assumption that rising real estate prices would justify their risky financial behavior. There's no reason to fear expensive houses or borrowing against your mortgage if the property continues to appreciate in value and more or less hands you equity.

    Those who issued the home loans did so with weak and fraudulent standards in an environment with an easy money policy (low Federal interest rates). What worsened the issue is that the issuing banks rid themselves of the risky loans by securitizing them and selling them off to other investors and bigger banks.

    ... people assumed they were not engaging in risky behavior, and if they did realize it, they passed on the buck.

    Moreover credit by itself is not a bad thing. It's incredibly beneficial as it allows capital to be extended to those who need it most. It only becomes a problem when too much credit is issued and consumers become over-indebted or financial institutions are over-leveraged.

  6. #106
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    Re: How do you pay - cash or card?

    I always pay with my card which is always paid off at the end of the month and involves no interest. That way I make maximum use of the points or discounts the card offers. The only time this fails is with the purchase of gasoline and the new cash/credit scam. There I use a debit card.

  7. #107
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    Re: How do you pay - cash or card?

    Quote Originally Posted by Hatuey View Post
    In this case, it's the point that debit cards should only be used for (1) ATMs or (2) cash back services. Most everything else should be put on credit.
    In this case -- debit or credit card -- we have several federal financial regulations geared at protecting the consumer. The Truth in Lending Act (TILA) which governs consumer credit and the Fair Credit Billing Act (FCBA) and Electronic Fund Transfer Act (EFTA) which governs debit and credit.

    With this legislation, consumers are well protected against fraudulent purchases made on credit, up to $50, but are not protected as well when it comes to debit, up to a $500 liability after two days notification. If you miss reporting a fraudulent purchase with a debit card after a billing cycle occurs, you're held liable for the entire amount.

    There's a few other points the government holds to banks, but what's important is that you're not well protected when using debit cards and your bank has no obligation to bail you out.

    Quote Originally Posted by AGENT J View Post
    like i said, cute story, keep being mad while i keep living in reality where the fact remains your post was wrong.
    Well, if that's your attitude, at least make certain to read the small print on your accounts. Banks give little warning before changing their terms & conditions.

    11. Changes to the Terms or Program: Wells Fargo reserves the right to amend, cancel, or temporarily suspend the Program or Your participation in the Program, in whole or in part, or change any of the Terms, at any time for any reason, including without limitation, suspected fraud, abuse of Program privileges or violation of the Terms, as determined in Our sole discretion, which may result in the decrease of redemption value, the cancellation of the ability to earn and/or redeem Rewards Currency, and/or forfeiture of Rewards Currency. We will give You advance written notice of material changes.
    Or in sensible English:

    Wells Fargo reserves the right to change any of the Terms, at any time for any reason as determined in our sole discretion.
    Last edited by brothern; 10-30-13 at 06:59 PM.

  8. #108
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    Re: How do you pay - cash or card?

    Quote Originally Posted by brothern View Post
    Yes-ish. I'm referring to the attitude, not the credit.

    Many of those who took out home loans (esp. ARMs) were operating under the assumption that rising real estate prices would justify their risky financial behavior. There's no reason to fear expensive houses or borrowing against your mortgage if the property continues to appreciate in value and more or less hands you equity.

    Those who issued the home loans did so with weak and fraudulent standards in an environment with an easy money policy (low Federal interest rates). What worsened the issue is that the issuing banks rid themselves of the risky loans by securitizing them and selling them off to other investors and bigger banks.

    ... people assumed they were not engaging in risky behavior, and if they did realize it, they passed on the buck.

    Moreover credit by itself is not a bad thing. It's incredibly beneficial as it allows capital to be extended to those who need it most. It only becomes a problem when too much credit is issued and consumers become over-indebted or financial institutions are over-leveraged.
    I agree that it's not a bad thing. I'm just not sold on the idea, that most everything else should be on credit. If anything, I think people should only make important purchases such as cars and houses on credit, and most everything else with cash. Then again, I have a pretty conservative view on spending. I only buy luxuries if I can reasonably afford them without them becoming a drag on bills which need to be paid.
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

  9. #109
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    Re: How do you pay - cash or card?

    Quote Originally Posted by brothern View Post
    In this case -- debit or credit card -- we have several federal financial regulations geared at protecting the consumer. The Truth in Lending Act (TILA) which governs consumer credit and the Fair Credit Billing Act (FCBA) and Electronic Fund Transfer Act (EFTA) which governs debit and credit.

    With this legislation, consumers are well protected against fraudulent purchases made on credit, up to $50, but are not protected as well when it comes to debit, up to a $500 liability after two days notification. If you miss reporting a fraudulent purchase with a debit card after a billing cycle occurs, you're held liable for the entire amount.
    I took a quick scan of the EFTA and as far as I can tell the maximum consumer liability is $50.
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  10. #110
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    Re: How do you pay - cash or card?

    Quote Originally Posted by Canell View Post
    Hi all

    Simple question here: do you pay cash or with your card?

    I would say that paying with a card is quite dangerous in terms of privacy - the bank knows all your moves and habits, what you buy, where you go and when you go. I'm not comfortable with that to say the least.

    So, what do you think?
    There is no privacy anymore. I almost always use a card because I find making sure I have cash to be annoying. If I go to a place that doesn't take cards or has a high minimum amount, I tend not to go back there ever again.
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