With the right credit card and discipline, it can certainly be a great way to manage finances.

For me, I have an easier time remembering how many times I've withdrawn money in a week than remembering the total of my transactions.

I agree that cash does sometimes have a way of shrinking when kept in a pocket.

 

Well, I'm anal as hell... Quicken is my friend

 

 

 

Apparently those posts are too long for this to read

 

 

The fact that merchants have to pay the credit card companies has been a long-standing form of extortion. It should be illegal. The service being provided here is really for the consumer, not the merchant, and that's what makes it unfair.

Maryann was questioning the issue of why people don't like cash. I hate cash. To me it's like flashy jewelery. Just something for someone to steal.

Merchants should probably pass the cost of using cards along to consumers. The guys I bought my wife's engagement ring from did that. In the case of a big purchase, it surely makes sense. Make people pay more if they use cards. Well, maybe it's too late for that, but that's what it should be.

 

I'm not sure about there, but in the UK it is my understanding that it is illegal for a merchant to add on the cost of using a CC to the cost of the purchase. What they CAN do though, is discount the cost if you are paying cash.

In Hong Kong you can often bargain over the price, and you generally know when you are getting close to their bottom line price when they ask if you are paying cash or credit card. Also they don't seem to like American Express here, since it seems that they charge a higher percentage than visa or mastercard .....

 

'i'm assuming you are correct about AMEX since clients do have to pay their bill in full at the end of hte month, they make their money off the percentage merchants pay as opposed to interest off of unpaid bills...

 

I have to disagree with the first part because merchants are not forced or obligated to take credit cards as payment. It may make business sense to accept them, and it may be necessary for a business to accept them if they wish to stay in business. However, a business still has the right not to accept them. I know a few restaurants that are cash only. (But I am not saying every business could survive doing that.)

I have come across a few merchants that do add a fee for credit card transactions. There certainly is nothing wrong with businesses passing costs on to the consumer if they can. Consumers' acceptance and tolerance of this, however, is hard to determine. I remember when certain gas stations had a cash price and a credit card price. That didn't seem to take hold.