How often do you use a credit card?

[OuttaMyWay]

I pay anything I can on CC. Citi double cash card pays 1% when you buy and 1% when you pay. Amazon's card gives 5% on any purchase and owning an RV, boat, house, and 4 cars means I have a significant Amazon bill :-).

I also have a buffer against identity theft in that even if someone uses a card fraudulently, it is not my money that is stolen. I NEVER use my debit card as many years ago, my number was stolen and used to buy as much as was in my checking account. I was refunded the money but having to wade through all the late fees and overdrafts was a nightmare.(PSA, if you have not frozen your credit at all three bureaus, go do it now)

I love the fact that I can easily report on what and where I spent money and it only works from a financial point of view because I auto-pay the full amount when it is due.



To me, this is free money (last year, we bought a new dishwasher and range for "free") so if you have the means to pay cash and are not parlaying the rebates that so many cards offer, you are leaving a significant amount of money on the table.

[tabsquared]

We use credit cards all the time. Just switched to that method from using debit cards for everything. Chase Visa is great (it’s an Amazon card) they categorize everything and it gives you a monthly budget to look at. Also we get most of our stuff from Amazon for free. Had over $200 to spend after a couple of months. Pay one bill per month. Very easy.

[SailorSam]

A quick scan of the posts didn't reveal anyone following my method. We have AAA insurance. I have a AAA issued card. Card offers 1-3% rebate points for various purchases (2% on gas/groceries). You can get cash back, buy from their "store" or convert the points into a prepaid card usable for any purchase at my AAA club - including to pay for insurance. 500 points buys a $750 card. That's a nice discount on my insurance!

[desuhu]

Originally Posted by LETMGROW

I don't use plastic unless I absolutely have to. I prefer to pay by cash or check. No one has to know what I buy or do, where I go or anything else. If I do use a card it's paid the day I get the bill. The only use I have for a card is online ordering and to maintain a high credit rating. I don't even know how to buy gas at a pump with a credit card.
Cash is king. Often times a cash discount will outweigh what I can get back on credit card usage. The vendor takes a hit on every credit card purchase.

We tried paying case one year on a trip clear to Niagara Falls. It was a pain in the butt. That was in 2008 when diesel hit $5.25/gal and every time we fueled up, I had to go in with a $100 and wait in line to give it to them and then they turned on the pump and gave me a receipt for the $100. Then, if we didn't use it all, I had to take the receipt back in and get my change. I would never do it again. We too use a Pen Fed card which gives us 5% back at the pump.

[MSHappyCampers]

Originally Posted by desuhu

We tried paying case one year on a trip clear to Niagara Falls. It was a pain in the butt. That was in 2008 when diesel hit $5.25/gal and every time we fueled up, I had to go in with a $100 and wait in line to give it to them and then they turned on the pump and gave me a receipt for the $100. Then, if we didn't use it all, I had to take the receipt back in and get my change. I would never do it again. We too use a Pen Fed card which gives us 5% back at the pump.

It's a shame that PenFed discontinued that card!

[Ed Gardiser]

I will suggest the Costco Citibank Card or CapitalOne Venture Card

[dvansickle]

Originally Posted by MSHappyCampers

We rarely buy anything for cash anymore. We put everything we can on a Chase Visa card that gives us a cash rebate from 1% to 3%, depending on the purchase. We have a PenFed credit card that we use for all fuel purchases, with a 5% cash rebate! Of course, to get the rebates we pay off the cards every month! We save several hundred dollars a year this way!

What is interesting is that lately I have seen more and more establishments add 3.5% - 5% charge as a line item on my bill. When I asked our favorite waitress what that was...she said it was the fee that the credit card company charges them for the transaction. I realize that credit card companies have always charged a percentage fee for each transaction and that the store/restaurant/etc. always had to pay. In the past that fee was just built into the cost of your product/food. But with COVID and profit margins so thin...companies are now just adding that fee to your bill...and putting it out there for everyone to see.

So my question is...with your favorite points/dollars credit card where you get 2% or even 5% on some transaction...is it really giving you anything or are you losing money (i.e.: 3.5% added to your bill and you CC gives you 2% back) or maybe you are actually just breaking even.

Just something to think about while you drink that glass of wine while you wonder what the extra line item charge was on your liquor receipt. :-)https://www.irv2.com/forums/images/smilies/blink.gif

[EdInArk]

Originally Posted by dvansickle

What is interesting is that lately I have seen more and more establishments add 3.5% - 5% charge as a line item on my bill. When I asked our favorite waitress what that was...she said it was the fee that the credit card company charges them for the transaction. I realize that credit card companies have always charged a percentage fee for each transaction and that the store/restaurant/etc. always had to pay. In the past that fee was just built into the cost of your product/food. But with COVID and profit margins so thin...companies are now just adding that fee to your bill...and putting it out there for everyone to see.

So my question is...with your favorite points/dollars credit card where you get 2% or even 5% on some transaction...is it really giving you anything or are you losing money (i.e.: 3.5% added to your bill and you CC gives you 2% back) or maybe you are actually just breaking even.

Just something to think about while you drink that glass of wine while you wonder what the extra line item charge was on your liquor receipt. :-)https://www.irv2.com/forums/images/smilies/blink.gif

They need to tell me they're going to add it. Sometimes it's a break-even. I' have, for instance, seen cash prices 5 cents below CC prices for gasoline. With a 3% CC discount I'm still ahead. If I see a sign or a note on the menu I'll usually pay cash. Sometimes they'll slip it by me, but by and large I still think I'm well ahead using the card.

I did have a plumber some time back say "Sure, we take cards, but we add 3%." I wrote a check.

I suppose we should form the habit of asking "Is the CC price the same as the cash price?" I tend to think they should warn me, but maybe I could take the responsibility of finding out for myself.

[SLAJMARTIN]

I use Citibank card or capital one card for all purchases. I pay in full when the statement comes so never pay a dime in interest. My Costco Citibank typically gives me a cash check each year approx $500/year. I just redeemed my capital one rewards for over $500 in gift cards. Free money.

[Steve 716]

We use an Amazon Visa card for most things and pay it off at the end of every month. That way we avoid interest charges and gather points in our Amazon account. Points accumulate quickly and we use them for routine purchases. It’s like getting a gift card each month.

[gwill1010]

We have a 2.5% cash back on everything from USAA. No fees. Have auto-payed the balance monthly forever. Not sure how long they offered it, but we've had it for years and they've not offered for a long time. Many, many thousands of $ over the years.

[Gforceone]

Originally Posted by LETMGROW

I don't use plastic unless I absolutely have to. I prefer to pay by cash or check. No one has to know what I buy or do, where I go or anything else. If I do use a card it's paid the day I get the bill. The only use I have for a card is online ordering and to maintain a high credit rating. I don't even know how to buy gas at a pump with a credit card.
Cash is king. Often times a cash discount will outweigh what I can get back on credit card usage. The vendor takes a hit on every credit card purchase.

Was like you. However cash is no longer king. Pain in the ass for some bussiness’s and I see no discounts for cash anymore. CC gives you best record of what you’ve been spending $ on. Of course unless you dont want the SOT to know what your spending money on 😳

[BruceDeville]

Originally Posted by MSHappyCampers

We rarely buy anything for cash anymore. We put everything we can on a Chase Visa card that gives us a cash rebate from 1% to 3%, depending on the purchase. We have a PenFed credit card that we use for all fuel purchases, with a 5% cash rebate! Of course, to get the rebates we pay off the cards every month! We save several hundred dollars a year this way!

Actually I need further clarification. I seldom use cash dollar bills because it in my opinion it is to dangerous in today's society. I usually pay with my bankcard, money comes directly from my account. Is that cash or credit?

[pete5016]

I rarely use cash. At the last FMCA rally, I brought a wad of cash, but didn't use much. In the past, most vendors or installers would give you a discount for cash....but not so much any more. But I keep asking!!!