Yes, and I end up being eventually reimbursed a % while people who use cash do not.
So, I suppose you could say my lunch isn't free, but being subsidized by cash users such as yourself.
Thanks!

11/4/2011 4:48:13 PM

You know your thinking is too small to comprehend how you're getting played?

11/4/2011 4:50:12 PM

It doesn't matter the scale. If you spend $100,000,000 and get 0% back, but I spend $100,000,000 and get 3% back then I'm making out pretty good.

[Edited on November 4, 2011 at 4:53 PM. Reason : ]

11/4/2011 4:52:06 PM

You're still losing $100,000,000.

How much can you resell what you buy for $100,000,000?

11/4/2011 4:57:29 PM

Why would I resell anything? I'm talking about basic purchases I'd be making regardless. You don't seriously think I go out and spend more just because I have a credit card, do you?

11/4/2011 4:59:18 PM

At least I'm getting you to think outside of the bubble you're in.


Reselling things determines its worth. If you spend $100,000,000 you should have $100,000,000 of equal goods to exchange back to cash.

11/4/2011 5:04:29 PM

^would you like to purchase my milk that expired last week? I purchased with my cash back rewards credit card.

[Edited on November 4, 2011 at 5:18 PM. Reason : .]

11/4/2011 5:18:51 PM

Yeah, you're not making sense at all Genius.

11/4/2011 5:19:31 PM

Quote :

"would you like to purchase my milk that expired last week? I purchased with my cash back rewards credit card."

The theater of the absurd.

Here's a better example:

If you buy a new car, how much can you sell the same car for on craigslist without touching it or moving it? It's the same car, sitting in the same lot, untouched.

11/4/2011 5:25:14 PM

wat.

full o' stupid

11/4/2011 5:29:56 PM

Why do you guys even respond to him?

11/4/2011 5:33:16 PM

You're already lost and we're not even two steps into the process.

11/4/2011 5:35:04 PM

let's say I'm hungry and going to buy a sandwich to eat immediately.

it's $5.00

I pay cash, it's $5.00 and we're done.
I use my cash back credit card, it's $5.00 then I get 5% back at the end of the month, so $0.25.

One method, I effectively spent $5.00; the other, $4.75

How is that bad?

11/4/2011 5:42:59 PM

Let's pretend you represent all people.
All people use credit cards to pay for everything.

what happens to the economy?

What components of the economy get bigger?
What components gets smaller?
What happens to cash?

Also to think about
What happens to anonymity?

[Edited on November 4, 2011 at 6:25 PM. Reason : to]

11/4/2011 6:19:37 PM

what ever happened to predictability? the milk man, the paper boy, evening tv?

11/4/2011 6:27:03 PM

Quote :

"what happens to the economy? What components of the economy get bigger? What components gets smaller? What happens to cash? What happens to anonymity?"

It's better for the economy. I can't imagine all the time/money/resources that go into keeping bills in circulation. I hope cash dies off. As it is, less than 10% of currency exists in print form. I don't care about anonymity.

11/6/2011 6:41:21 PM

Quote :

"It's better for the economy. I can't imagine all the time/money/resources that go into keeping bills in circulation. I hope cash dies off. As it is, less than 10% of currency exists in print form. I don't care about anonymity."

This is comparable to a student saying they shouldn't take calculus because they only use remedial math in their lives.

11/6/2011 7:00:49 PM

^ I would love to see your finances, judging from your general absurdity there has got to be some good laughs to be found in how you manage your money

11/6/2011 7:28:40 PM

Srsly.

There are plenty of students who don't take calculus since they will not need to use it in their fields. What's wrong with that?

11/6/2011 7:55:34 PM

lol.

dumbassboy, I think I get where you are going... credit card transactions just add 'extra' cost to transactions; banks get bigger; etc.; yaddah; yeh.

unfortunately, you need the entire world to stop using credit cards for your point to be meaningful.

I, as an individual, will lose money by NOT using my cash back credit card, as compared to using it.

If I stop using my card and pay cash only, I will still pay the credit card premium built-in to prices on the shelf and I will no longer receive a check every month from my credit card company.

11/6/2011 8:11:01 PM

Quote :

"I would love to see your finances, judging from your general absurdity there has got to be some good laughs to be found in how you manage your money"

I'm not going to show you my finances, but lets just say I would make you feel bad about yourself.


Anyway, here is what you're not supposed to see when it comes to using your credit card.
Now you get to see the population trend and not just a portrait of yourself.

11/6/2011 9:53:02 PM

Quote :

"I'm not going to show you my finances, but lets just say I would make you feel bad about yourself."

Hahaha. Insecure much? And what point is that picture supposed to prove?

11/6/2011 11:43:20 PM

I've never seen a credit card merchant statement but is that saying that you had 404 transactions which cost you a total of $311?

11/6/2011 11:49:08 PM

^yep.

Multiply that by 12 months = $3600/yr.

$3600/$7.25 = 496.55 hours of labor I could hire.


Instead, it goes the credit card companies.
I'm just one small business... think about the entire economy.


If everyone paid in cash, there'd probably be a lot less public debt, too, because you can't spend more than you have.

Credit cards DO have value in society and I don't mind paying the fees for the service of "security in knowledge that my funds are guaranteed over a phone transaction" but I really have a hard time accepting that I'm forced to pay when security is not needed simply because you're being paid to choose your card over cash. Choosing what's right and wrong gets a whole lot harder when you're paid to do wrong.

11/7/2011 12:34:48 AM

Your business mustn't be doing so hot if $3600 if hurting your bottom line that much.

11/7/2011 1:27:01 AM

Because there are no other bills in business, right?

11/7/2011 1:36:54 AM

Quote :

"I, as an individual, will lose money by NOT using my cash back credit card, as compared to using it. If I stop using my card and pay cash only, I will still pay the credit card premium built-in to prices on the shelf and I will no longer receive a check every month from my credit card company."

11/7/2011 8:21:23 AM

Quote :

"Your business mustn't be doing so hot if $3600 if hurting your bottom line that much. you're a restaurant that only has 404 transactions a month."

11/7/2011 8:56:09 AM

I love credit cards. They give me free hotel stays and flights.

11/7/2011 9:00:25 AM

Quote :

"I've never seen a credit card merchant statement but is that saying that you had 404 transactions which cost you a total of $311?"

I would venture a guess that you might lose that much in profit a month if you did not take credit/debit cards.

11/7/2011 9:51:13 AM

Yeah places that are cash only soon realize they're making way more if they take credit/debit cards. The profits from accepting them far outweigh the tiny fees associated with them.

11/7/2011 9:54:28 AM

Yeah, but now he is going to start on the mantra that this logic only works because there are still places that dont accept credit cards, which is increasingly slim, and when eventually everyone takes credit card, there is no competitive advantage making it moot.

He ignores the fact that consumers use credit/debit cards for the convienence. Consumers dictate how business is to be done. Not the merchant. The merchant can pretend they have power, but the market will eventually. I had long since stopped going to merchants that didnt take credit/debit.

Also, prices eventually rise to compensate for the cost associated with fees, so I think the real effect on profit is negligable.

What is sad is that there is a Brewsters Ice Cream in my neighborhood. For years, I would drive past it wanting to get some ice cream, realizing they didnt take credit cards. I just found out that they have been taking credit cards since they changed ownership (a couple of years), and they didnt advertise they were taking credit cards now so they've missed out on a few hundred in business the last couple of years.

[Edited on November 7, 2011 at 10:12 AM. Reason : .]

11/7/2011 10:11:22 AM

I know of several places (bars/restaurants) that are cash only. But they've been that way for years and they survive off of a lot of local business. They've also recently put ATMs inside their establishments.

There is just no possible way to open up a new business and be cash only. And to complain about it is just pathetic. You might be a little more successful if you complained less and focused more on how to improve your business.

11/7/2011 10:26:18 AM

You guys are not being serious enough for this conversation.

This is the lounge. If you want to act like children, GO to chit chat.

11/7/2011 12:05:25 PM

lol, wut?

11/7/2011 1:11:55 PM

Quote :

"Yeah places that are cash only soon realize they're making way more if they take credit/debit cards. The profits from accepting them far outweigh the tiny fees associated with them."

There have been lots of studies surrounding public spending in regards to the emotional response when they pay cash versus when they use credit cards. In McDonald's survey, they found people spend on average 47% more when they paid with credit versus paying with cash.

Credit cards are good for businesses, bad for consumers, decent for consumers who pay off their debt every month, but still cash is king.

11/7/2011 1:41:56 PM

But that can't be so! GB says that credit card fees only screw the business!

Surely the owner of a small pizza business knows more than everyone else!

11/7/2011 1:53:59 PM

Oh wait. This is the pizza guy?!?!? It all makes so much more sense all of a sudden.

11/7/2011 3:20:34 PM

Quote :

"In McDonald's survey, they found people spend on average 47% more when they paid with credit versus paying with cash"

If you view this as a good thing, you're mistaken. The country is in financial ruins because people are not responsible with their money.


This is like taking the valuable resources from the land at a rate faster than they can reproduce. You're going to keep reaping until there is nothing more to reap. Oddly enough reap in an anagram for rape.



David is officially cut off from this conversation for being immature.

[Edited on November 7, 2011 at 5:59 PM. Reason : .]

11/7/2011 5:52:09 PM

Quote :

"In McDonald's survey, they found people spend on average 47% more when they paid with credit versus paying with cash. Credit cards are good for businesses, bad for consumers, decent for consumers who pay off their debt every month, but still cash is king."

First problem there is it's McDonald's. I don't expect people who frequent McDonald's to be financially responsible. Credit cards are bad for irresponsible consumers.

11/7/2011 6:01:51 PM

^^ Youre purposely being obtuse and spinning his point to a completely different argument. He isn't saying that it is good for people to be spending more than they have in general. He even said it is bad for some consumers in the same post /facepalm

He is simply stating fact that it is a proven point people spend more money when they can use a card versus cash. It's probably a pretty true statement that the extra profit you net from people who are using a card who might not otherwise buy is greater than your fees for offering to take credit cards.

You can't argue from both sides of the card here. Are credit cards bad because it aids irresponsible people in being financially irresponsible and that's a big problem in our society? Or are they bad because you get charged fees?

[Edited on November 7, 2011 at 6:54 PM. Reason : ]

11/7/2011 6:51:18 PM

Quote :

"You can't argue from both sides of the card here. Are credit cards bad because it aids irresponsible people in being financially irresponsible and that's a big problem in our society? Or are they bad because you get charged fees?"

I am a business owner and I am a consumer. I am not a credit card issuer.

The ideal business deal is between the business owner and the consumer. The credit card issuer is a third party.

The third party ideally should assist the consumer and business, as well as make some money for themselves.

As soon that the third party began to offer incentive better than cash, they injected poison into the economy.

I really cannot simplify it any more than that.

11/7/2011 6:56:31 PM

IM LOSING MY ARGUMENT SO I. GOING TO PLAY THE TROLL CARD.

The cost is passed onto the end consumer, ALWAYS. Its economics. It is not your perogative to dictate how I pay.

I stopped going to one store because they didnt take American express. Say my bill there was 200, if they charged me five bucks more to cover the increased fee over visa, I'd have actually paid it, because I prefer to use that card... instead I shop else where. They could have increased prices by 1%, covered the difference on amex users, and made 1% more on visa users. (Or whatever the difference is, I'm being arbitrary). Spending the two bucks more is worth it when it pushes me toward the limit in blue cash required to get 5% back on gas, which i buy a lot of, versus 1.25% back. Putting everything on that card should be my perogative. And businesses that dont take it suck ass.

11/7/2011 7:02:16 PM

Geniusboy,

Shut the fuck up. You have gone full retard. in addition to having no credibility whatsoever on this subject, you are saying things that are utterly brainless.

Quote :

"I'm not going to show you my finances, but lets just say I would make you feel bad about yourself. "

I would be shocked at that EVEN IF your business wasn't a failure.

[Edited on November 7, 2011 at 7:20 PM. Reason : ]

11/7/2011 7:08:46 PM

^^Pikey, what you're telling me is you spend more money to save less money.
You'll pay a $5 markup, when it takes $500 to get the $5 back.

This is what I'm talking about. People are not responsible with credit cards and paying you in pennies amplifies the irresponsibility because people just don't have that level of mathematics to comprehend their mistakes.





[Edited on November 7, 2011 at 7:16 PM. Reason : .]

11/7/2011 7:10:17 PM

but what about the people that are responsible?

11/7/2011 7:17:46 PM

There aren't enough of them.

11/7/2011 7:18:41 PM

So I'm good then, right?

11/7/2011 7:22:23 PM

Half the people have to be merchants
Half the people have to be consumers

If you trick the consumers out of all their money
and you force business owners to give you their money by using consumers
the third party gets all the money.

The third parties are corporations, the government, and credit cards.

If you're part owner of a corporation, you're a government official, or a credit card issuer, then you're okay until the uprising.

11/7/2011 7:24:29 PM

I'm thinking about getting a Gas card. What are t-dub's recommendations? Paying off the card each month is not a problem...

11/7/2011 8:13:53 PM