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Credit cards vs Cash

johnny50
Regular Contributor

Credit cards vs Cash

I wonder how many of you still carry cash.

 

I know that almost all of us on this board use credit cards extensively.

 

I have about $40 in my wallet 'just in case,' but I never use it. I could probably get away without carrying it, but I have it "just in case."

Message 1 of 27
26 REPLIES 26
fatcomic
Regular Contributor

Re: Credit cards vs Cash

Cash?  Never heard of her.  


Message 2 of 27
calyx
Super Contributor

Re: Credit cards vs Cash

I usually keep $20-40 in a corner of my wallet in case I do need cash, but mostly it's me and my boss trading that $20 as we cover each other's lunches and what not.

 

 

I also keep a single check in my wallet for vendors that don't take cards.



F8 EQ: 809 | EX: 802 | TU: 805 | Accounts: 1/6 4/12 6/24
Happy practitioner of AZE7or8or9or10 | Team Finances > FICO
Message 3 of 27
Horseshoez
Established Contributor

Re: Credit cards vs Cash

Pre-COVID I used to cycle through two to three hundred dollars of cash between ATM visits, mostly for food at the company cafeteria and/or tips to hotel employees when I was on the road.  In the last 13 months I've visited my friendly neighborhood ATM exactly once (last summer I think), and I still have about $45 left.  Smiley Tongue

I categorically refuse to do AZEO!

Message 4 of 27
tcbofade
Super Contributor

Re: Credit cards vs Cash

I'll carry cash when I travel, but otherwise I keep one $100 bill in my wallet that I have no intention of spending.

 

It's there if I need it, or if someone else does.

 

With so many credit cards paying me to use them, I use plastic everywhere that I can.

06/01/21 Fico 8: EX 735, EQ 753, TU 757.
06/05/21 Fico 9: EX 726, EQ 740, TU No idea.

Zero percent financing is where the devil lives...
Message 5 of 27
Carmy03
Established Contributor

Re: Credit cards vs Cash

Since COVID I havent carried cash or a debit card, the only time I ran into an issue was when I wanted to buy Girl Scout cookies other than that I'm good.

Message 6 of 27
Aim_High
Senior Contributor

Re: Credit cards vs Cash

Over the years, I've used my credit cards more-and-more and cash less and less.  I never used debit cards and always hated them.  For a long time, credit cards were mainly for larger purchases and you would have gotten funny looks or a denial to use them for fast food or coffee.   Many vendors had minimums to use credit such as $5 to $10.  Now, it's no problem.   

 

Of course, in my early days of credit, cash back was the exception.  I did have a Discover card as the cash back pioneer, but it wasn't widely accepted yet.  I mainly used it for gas purchases and sometimes dining, things I knew I would be able to pay off easily.  Larger purchases went on VS/MC, but that was usually $25 or more per charge.  My statements were much more simple then.

 

I still carry cash and do use it sometimes.  But my visits to the ATM are much fewer and farther-between. 



Length of Credit > 35 years; Total Credit Limits > $500K
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Message 7 of 27
Saeren
Mega Contributor

Re: Credit cards vs Cash

When I have cash in my wallet, I'll spend it, so I try to stick to plastic only. 





Message 8 of 27
Horseshoez
Established Contributor

Re: Credit cards vs Cash


@Saeren wrote:

When I have cash in my wallet, I'll spend it, so I try to stick to plastic only. 


LOL, some folks say the opposite, having access to credit encourages overspending.  I tend to think this varies on an individual to individual basis.

I categorically refuse to do AZEO!

Message 9 of 27
PandaGirl77
New Contributor

Re: Credit cards vs Cash

I don't carry it but end up with some when buying and selling stuff locally (ex: Facebook Marketplace and tag sale groups) when the other party isnt equipped to use Venmo.  I really cant stand losing potential CB.  I earned a promotional $150 debit card from my cable company and actually have anxiety over the fact I wont earn even the littlest CB back on it and has to be treated like cash.  Unless there is a workaround I'm not figuring out. 🤷‍♀️

Message 10 of 27
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