Target to stop accepting personal checks as form of payment

[RoboQB]

Cash is King.
Pay with cash every chance you get.
Especially with small businesses.

Also, never use "debit". Use "credit" on your check cards.

 

[Robbieac]

Pay with cash every chance you get.

Why? Do you not like the free 2%~5% in cash back rewards when using a credit card?

I’ve literally made over $200k in my life with credit card rewards.

And I’ve NEVER paid a penny in interest or late fees.

The rich don’t get richer. It’s the smart people who get richer.

Take advantage of every easy money making opportunity that you get. It adds up immensely over a lifetime!

 

[csirl]

Cash is King.
Pay with cash every chance you get.
Especially with small businesses.

Also, never use "debit". Use "credit" on your check cards.

A lot of small stores and businesses near me wont take cash. Will only take card payment. A lot of busnesses have realised than handling cash is too risky - staff thieft, holdups, change scams, fake notes etc. Easier to avoid it.

 

[gtb1943]

A lot of small stores and businesses near me wont take cash. Will only take card payment. A lot of busnesses have realised than handling cash is too risky - staff thieft, holdups, change scams, fake notes etc. Easier to avoid it.

nothing ever comes without a price.
remember that

 

[RoboQB]

Why? Do you not like the free 2%~5% in cash back rewards when using a credit card?

I’ve literally made over $200k in my life with credit card rewards.

And I’ve NEVER paid a penny in interest or late fees.

The rich don’t get richer. It’s the smart people who get richer.

Take advantage of every easy money making opportunity that you get. It adds up immensely over a lifetime!

Not sure how you're measuring making over $200k
with rewards.

If I go grocery shopping and spend $300 but save $60
because I have a membership, I don't count the $60
as if I made $60. No money is going into my pocket.

I prefer a pay as you go method. I use my check card.
The money is in the bank. I don't get a bill with a minimum payment required. It's just easier.

I've never understood people using "debit" for small purchases. This is where people screw themselves.
Dude buys a meal at a fast food joint. It's $10. He uses his debit card. So he pays bank transaction fees on that $10 meal. Seems like everyone under 35 does this.

 

[Robbieac]

Not sure how you're measuring making over $200k
with rewards.

If I go grocery shopping and spend $300 but save $60
because I have a membership, I don't count the $60
as if I made $60. No money is going into my pocket.

I prefer a pay as you go method. I use my check card.
The money is in the bank. I don't get a bill with a minimum payment required. It's just easier.

I've never understood people using "debit" for small purchases. This is where people screw themselves.
Dude buys a meal at a fast food joint. It's $10. He uses his debit card. So he pays bank transaction fees on that $10 meal. Seems like everyone under 35 does this.

I don’t think that you understand credit card rewards.

I have several credit cards that give me anywhere between 2% to 5% in CASH BACK on my purchases. Just for using the card.

If I go to a store and spend $1000 on my credit card, I then pay off the credit card bill with money from my checking account. Its an even exchange.
But then, the credit card company deposits anywhere from $20 to $50 cash (2% to 5% of my purchase) into my checking account for using their card.
I literally made $20-$50 extra for FREE into my pocket.

If you use cash, you earned nothing. But I will have an extra $50 in my checking account.

I have a small business and have used my credit cards for millions of dollars in purchases over the years. 5% in free cash back adds up very quickly.

 

[RoboQB]

I don’t think that you understand credit card rewards.

I have several credit cards that give me anywhere between 2% to 5% in CASH BACK on my purchases. Just for using the card.

If I go to a store and spend $1000 on my credit card, I then pay off the credit card bill with money from my checking account. Its an even exchange.
But then, the credit card company deposits anywhere from $20 to $50 cash (2% to 5% of my purchase) into my checking account for using their card.
I literally made $20-$50 extra for FREE into my pocket.

If you use cash, you earned nothing. But I will have an extra $50 in my checking account.

I have a small business and have used my credit cards for millions of dollars in purchases over the years. 5% in free cash back adds up very quickly.

Well, you're right...lol. I don't understand credit cards.
It's been so long since I've used them. I had no idea they literally hand over cash for using their card. I wonder, what's the catch? At some point, that runs out. I guess they depend on others paying north of 25% on their card.

Kudos to you for staying ahead of the interest fees.
Most do not do that.

 

[Robbieac]

Well, you're right...lol. I don't understand credit cards.
It's been so long since I've used them. I had no idea they literally hand over cash for using their card. I wonder, what's the catch? At some point, that runs out. I guess they depend on others paying north of 25% on their card.

Kudos to you for staying ahead of the interest fees.
Most do not do that.

One of my overall favorites is the Citi Double Cash card. They give you 2% cashback on all your purchases. Just pay in full by the time your statement closes, and its EASY money. There is no catch as long as you pay it off.

https://www.citi.com/credit-cards/citi-double-cash-credit-card

Glad to help you out. I hope that you take advantage and earn some free money. Just ALWAYS pay it off every month to avoid interest fees!

 

[EST_1986]

While it's used less and less, its still great for drug deals, strip clubs, and rolling into straws for the ski slopes.

All the fun stuff

 

[VaqueroTD]

A lot of small stores and businesses near me wont take cash. Will only take card payment. A lot of busnesses have realised than handling cash is too risky - staff thieft, holdups, change scams, fake notes etc. Easier to avoid it.

If I have it on me, I will sometimes pay small businesses with cash, especially for small purchases. I know what kind of bullflip fees they get from the credit card companies. And same for tips so they don’t have to claim it with the IRS. Doing my civic duty.

 

[gtb1943]

A lot of small stores and businesses near me wont take cash. Will only take card payment. A lot of busnesses have realised than handling cash is too risky - staff thieft, holdups, change scams, fake notes etc. Easier to avoid it.

Have yet to run into a business that does not take cash; where do you live?

 

[csirl]

Have yet to run into a business that does not take cash; where do you live?

I live in Europe. Loads of businesses wont take cash. Mostly small businesses. - the type that in the past would have a single cash register. Now they have a single card reader.

 

[gtb1943]

I live in Europe. Loads of businesses wont take cash. Mostly small businesses. - the type that in the past would have a single cash register. Now they have a single card reader.

OK, that makes sense. Things are a lot different here. Cash is still very important if no longer king.