Timeline for Should I use my credit or debit card when purchasing groceries?
Current License: CC BY-SA 3.0
17 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Jun 5, 2015 at 1:55 | comment | added | briantist | @Vitalik I just checked, it seems they changed the terms from when I last looked. Previously you didn't get 6% back on the first $6,000; you got a much lower cash back rate on the first $6,500 and didn't start getting 6% back until after that, for the year (then it reset). Sorry for the confusion. | |
| Jun 5, 2015 at 1:49 | comment | added | Vitalik | @briantist So why not just run 6% on 6K and then stop using it? It's $360 back on a card that costs $75/year. Sounds like a good deal. (in addition it gives 3% on gas without limit and 1% on everything else) | |
| Jun 4, 2015 at 20:31 | comment | added | briantist | @Vitalik, the main reason not to is the $6,500 spend required. Do the math sometime on how much you would have to spend after $6,500 to make the total cash back worth it, vs. using a card that just gives 1% or 1.5% cash back on everything. Not saying it won't work out better for you, but for me I was worse off. I still have one of those cards, just never really use it. | |
| Jun 4, 2015 at 20:12 | comment | added | Vitalik | @DanDascalescu AmEx blue Cash preferred is up to 6% now for fee card and 3% for a non annual fee. I am really struggling with a reason not to have this card unless you are single and eat out all the time. | |
| Jun 1, 2015 at 17:54 | comment | added | Zibbobz | @jamesqf That's because they don't have to cover the security cost of losing the transaction illegally made with a card - YOU do have to cover the cost if your cash is stolen. And in every case where someone managed to get my card data, I got my money back. | |
| May 30, 2015 at 20:30 | comment | added | jamesqf | @R..: You may think it's dumb, but the operators of my preferred grocery store chain (WinCo) think differently. Since their prices are consistently cheaper, their selection better, and their stores more pleasant to shop in, than the local competition, I think they may have a point. Nor do I see how the cost of transporting cash would scale with the quantity. And I've never known a store that would offer cash back - indeed, gas stations hereabouts often charge less for cash than credit/debit. | |
| May 30, 2015 at 18:28 | comment | added | jamesqf | @neminem: No, pickpocketing would be the same as having your credit/debit card stolen. But if I steal a $20 bill from you, you've lost only that $20. I can't e.g. copy down the serial number off it, and use it to empty your bank account, or charge up to whatever your credit limit might be. FTM, I don't even need to steal the physical card, just get the number and possibly a PIN. And if you counterfeit a $20 bill and spend it somewhere, that doesn't really affect me. | |
| May 30, 2015 at 14:25 | comment | added | Brandon | Credit cards also build credit history. Another advantage, particularly when starting off as a young adult. | |
| May 29, 2015 at 12:09 | vote | accept | Zibbobz | ||
| May 29, 2015 at 4:31 | comment | added | Dan Dascalescu | American Express Blue Cash has a whopping 5% cash back on grocery store purchases once you've exceeded $6500 worth of purchases per year. | |
| May 29, 2015 at 3:43 | comment | added | R.. GitHub STOP HELPING ICE | A shop that doesn't accept credit/debit cards is just dumb. Transporting wads of cash to a bank securely costs a lot more (and the cost scales with the amount of cash) than all the costs of card processing combined (fees, hardware, ...). This is why they offer you cash back on card purchases too - to get rid of some of that expensive-to-deal-with cash. | |
| May 29, 2015 at 2:25 | comment | added | briantist | A store would have to have some pretty amazing advantage for me to continue shopping there these days if they don't take credit cards. It's my method of choice for a multitude of reasons. | |
| May 29, 2015 at 2:24 | comment | added | briantist | Or counterfeiting. | |
| May 28, 2015 at 23:07 | comment | added | neminem | @jamesqf On the contrary: it's called "pickpocketing". | |
| May 28, 2015 at 22:07 | comment | added | jamesqf | My usual store only takes cash or debit (or EBT). AFAIK, no one has managed to hack into $20 bills :-) | |
| May 28, 2015 at 20:46 | comment | added | NL - SE listen to your users | +1 I also like the rewards points, but my primary reason for making all purchases on a credit card (rather than debit) is to minimize the hassle of fraud. | |
| May 28, 2015 at 19:48 | history | answered | briantist | CC BY-SA 3.0 |