$2 bills

ZRH said:
Banks get rich off those, or the card network, cant remember precisely. A lot of local businesses around here will give you 'cash discount.'
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banks make money off them but they don't get rich

the card networks don't exactly get rich since they don't see any of your interest fees, the only thing that funds visa and it's network are those merchant fees. same with mastercard. amex and discover operate differently because they run their own networks and financial institutions

I've yet to see any place that's ever given a discount for using cash only, which is why virtually every purchase I make is with a credit card
 
SemperFly said:
banks make money off them but they don't get rich

the card networks don't exactly get rich since they don't see any of your interest fees, the only thing that funds visa and it's network are those merchant fees. same with mastercard. amex and discover operate differently because they run their own networks and financial institutions

I've yet to see any place that's ever given a discount for using cash only, which is why virtually every purchase I make is with a credit card
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%2.5 fee on every purchase for mastercard/visa, amex and discover are like %3.2, debit cards are priced differently, I cant remember if it's a flat rate or what.

Seriously? Around here ALL the independent gas stations have prices for cash listed on the signs. I'm not sure what to call them, but 'local' businesses, like lumber yards, gun shops, will either mark up CC purchases or give you cash/check discount. If you drop $10k on construction supplies, that %2 card fee is $200, so it's not insignificant.
 
Debit cards are a flat rate. Couple years ago it was like fifteen cents per transaction... Its not much at all.

Most places here that give a discount for cash also give it for debit cards.
 
For gas stations I think its more of a ploy to get people into the store to buy overpriced stuff instead of paying at the pump and leaving.
 
ZRH said:
%2.5 fee on every purchase for mastercard/visa, amex and discover are like %3.2, debit cards are priced differently, I cant remember if it's a flat rate or what.

Seriously? Around here ALL the independent gas stations have prices for cash listed on the signs. I'm not sure what to call them, but 'local' businesses, like lumber yards, gun shops, will either mark up CC purchases or give you cash/check discount. If you drop $10k on construction supplies, that %2 card fee is $200, so it's not insignificant.
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if you're working in the tens of thousands you're in business customer territory. no one's walking into a construction yard with ten grand in cash and in the modern world people who walk into shops with a checkbook are laughed at. maybe that flies out in east bumblefuck, nowhere but the rest of us live in the 21st century. you will have a very, very hard time finding any place in a major city that charges less for cash transactions. part of the reason businesses are willing to pay that merchant fee is because it's far more convenient for them to get paid that way than wait for checks to run through the clearing houses.

a business that runs like that - making special allowances for people that refuse to accept modern technology - is doomed to failure
 
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you walk into a construction yard with a PO for 10 grand... not a purchase card or a credit card or a check... credit cards are a consumer thing.
 
I pay for stuff in 'shops' by check, when it's advantageous to me. I really don't give a shit what anyone thinks because it's my money. Most of the time it's better to float it on a CC because 25 days of interest. Debit cards are crap because they don't have the same protection as CCs and there is no float. No one said anything about not accepting cards, so I'm not really sure why you're spazzing about "making allowances."

I didn't say 'the grocery store' or some shit though. I said 'local' businesses, low transaction number, high priced stuff. They don't get good terms on card processing because they don't have high volume sales. The furniture was a good example as pointed out by whoever that was. In NYC you can get cash discounts if you ask, and that isn't 'the middle of nowhere.' Maybe you just never thought to ask, which isn't surprising. I ran the shipping department for a big box store years ago, and all our orders were COD. Most lumber yards, I'm pretty sure they won't even let you on the lot unless you're dropping a couple thousand (usually you send a take off list and they make an order).

Btw, checks clear super fast these days, esp if it's drawn on your bank or the US government (one of my former employers, I never cashed any paychecks for 3 years, then I cashed them all day before christmas eve and overdrafted their payroll, it was hilarious).
 
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plot said:
you walk into a construction yard with a PO for 10 grand... not a purchase card or a credit card or a check... credit cards are a consumer thing.
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POs are just an agreement for prices. Actual transfer is probably a NOW (which is a essentially a check) or an ACH push. I've seen some companies try to pay contracts on business CCs.
 
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plot said:
you walk into a construction yard with a PO for 10 grand... not a purchase card or a credit card or a check... credit cards are a consumer thing.
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I guess that's why company credit cards are so unpopular that they make up nearly half of all american express cards printed
 
ZRH said:
I pay for stuff in 'shops' by check, when it's advantageous to me. I really don't give a shit what anyone thinks because it's my money.
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good because everyone thinks that people who pay with checks are douchecanoes
Most of the time it's better to float it on a CC because 25 days of interest. Debit cards are crap because they don't have the same protection as CCs and there is no float. No one said anything about not accepting cards, so I'm not really sure why you're spazzing about "making allowances."

I didn't say 'the grocery store' or some shit though. I said 'local' businesses, low transaction number, high priced stuff. They don't get good terms on card processing because they don't have high volume sales. The furniture was a good example as pointed out by whoever that was. In NYC you can get cash discounts if you ask, and that isn't 'the middle of nowhere.'
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lol where?
 
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