retailers and restaurant encourage people to use cash
By kingparker
@kingparker (9673)
United States
July 5, 2010 12:25pm CST
Maybe there is discount from those retailer stores and restaurants to encourage you to use cash instead of credit card or debit cards. Since the major banks coherently charge the transaction fee in high prices. Even though the merchant stores in attempt to negotiate, it seems not work every well. So, the other way to go is encourage customers to use cash instead of plastic cards. The good news is, to avoid the high transaction fee, they can give you discount on purchases. What do you think of it?
1 person likes this
5 responses
@Boyetski (986)
• Philippines
5 Jul 10
I think we are tricked to use those plastic cards to burn our income. The only good side of using credit cards is when your in an emergency and you dont have any money with you. The downside is, you pay more. Way more than the service or the product that you get.
We are paying in installment. Therefore the bank earn interest from our purchase.
@kingparker (9673)
• United States
6 Jul 10
The point is, even in store, the stores have to charge your more to make up those transaction expenses too, don't you think? So, since the retailer stores don't want to raise the price again, they might encourage their customers to pay with cash instead of cards.
@maiaman (97)
• Philippines
13 Jul 10
It would be a surprise to some but I am one of the few people who does not use credit card as much as possible on my purchases unless it is a "need-to, have-to" case. It is a surprise to know that it is a good practice to pay in cash because I believe (even if some may disagree) that you get a lot more value for your money this way because yes, some store or restaurants give discounts for paying cash. And it also helps me mange my accounts because when I don't have cash at hand I don't have the urge to buy, unlike with credit cards that gives you the false idea that you can buy things without even noticing that you may spend much more that you can afford. As for me, this practice help me to stay out of debt in any sort of way.
@speakeasy (4171)
• United States
5 Jul 10
The only time I use my debit card regularly is to pay for gas so I don't have to go into the store part and get sucked into making impulse buys.
My credit card is only used for major purchases that I can't afford to pay for all at once or when I absolutely need to rent a car or make hotel reservations and they won't let you without a credit card.
Everything else I pay cash for. It is better for everyone (except the credit card company/bank) and if I end up somewhere that doesn't accept cards I am OK because I have the cash available and it can save me money when discounts are offered for cash.
It also helps prevent "skimming" my debit/credit card info by others. This is a common problem in restaurants and other places where you actually have to give someone else your card to make the purchase.
@my_name_is_coco (4333)
• Philippines
10 Jul 10
using cash instead of credit cards can help consumers in the long run.using credit card will include transaction charges,which will add up to your expenses.a lot of credit card owners are in debt.I don't have a credit card and I have no plans of applying one.I would rather shop using cash.
@rosegardens (3034)
• United States
6 Jul 10
That is a fabulous idea. I would do it if they gave me a discount for using the cash. The fees are ridiculous for the retailers sometimes. A small purchase on a card can end up costing them money because of the transaction fees.
