Do you carry cash?

[strange_wings]

Originally Posted by mrblanche

I
In addition, many gas stations block as much as $50 in your account as soon as you swipe the card, so that they can be sure the card will be honored. The block is supposed to be removed when the transaction is completed, but it CAN take as much as 72 hours to be removed. Same with a hotel; most block at least $100 when you check in, and some block more.

I didn't know this, it explains why some people's debit cards don't work when they go to use them - they usually say things like "but I just got gas half an hour ago".

I use debit for most things, including getting gas. It's all prepay or pay at the pump here.

I hate shopping, so that curbs spending and the only things I do like to shop for I usually spend cash because it's things I do not need and have just stashed a little cash aside at a time for (ie, books or buying several cds). I do try to keep at least $20 in my wallet, but that tends no to last long.

I heard a rumor lately that several banks had accounts or worried that accounts were hacked into and froze some accounts or cards. This may be why some cards aren't working for people.

 

[tierre0]

I use my debit card all the time as well. I rarely have more then a few dollars on hand. I find it much easier to track my expenses that way.

 

[natalie_ca]

Yes, I usually have some cash with me: about $40.00 usually. Because I don't have a credit card, sometimes I need to carry more than that because my debit is limited to $1,000 per 24 period. The other day for example I had to pay for my glasses, buy a watch, pay the vet bill and buy an external hard drive and some groceries. Because it exceeded the daily limit, I had to take out more cash than I would normally have.

 

[icklemiss21]

Originally Posted by mrblanche

However, we had a debit card and got rid of it, after hearing the advice from Clark Howard. He said never, never, never, ever, ever, ever use a debit card. Most are not protected like credit cards are (you can only lose $50 on a credit card--our debit cards could lose $1,000 per day!), and every use of it risks every penny you have in your account.

Don't use debit cards!

In addition, many gas stations block as much as $50 in your account as soon as you swipe the card, so that they can be sure the card will be honored. The block is supposed to be removed when the transaction is completed, but it CAN take as much as 72 hours to be removed. Same with a hotel; most block at least $100 when you check in, and some block more.

My debit card as the gas station asks me how much I want to authorise and you can't hold a hotel room with a debit card so it has never been an issue. My debitcard was compromised and I got everything back, even the NSF fees that occured when bills came out after my account was emptied so it must be different here

 

[laureen227]

i use my debit card almost all the time, unless i'm doing something [like buying lunch @ school] that requires cash. i always try to have some cash on me, just for that reason.
plus, i hate using the card for amounts under about $5...

 

[cococat]

i always carry some. But rarely use it

 

[grogs]

I always like to have at least $50 in my wallet at any time. I've had a couple of times I needed a wrecker and the only thing the driver could take was cash.

There are also certain purchases that I don't want to be recorded electronically such as the liquor store, and I like to pay for small purchases and haircuts in cash. Other than that, I use my credit card for just about everything. I don't ever use a debit card for the reasons others have described here in the thread. I just pay off the credit card every month, so for all practical purposes it works out the same.

 

[AbbysMom]

Originally Posted by Yosemite

I rarely use my Visa unless it's for buying something online such as theatre tickets (getting tickets to see Seal

- just had to throw that in because I'm excited about it).

I'm very jealous! I love Seal.

Originally Posted by strange_wings

I heard a rumor lately that several banks had accounts or worried that accounts were hacked into and froze some accounts or cards. This may be why some cards aren't working for people.

They called last night and I asked what the problem is. It is part of the Heartland breech:

http://www.wrdw.com/money/headlines/38240414.html

 

[snake_lady]

I usually have $20 in my purse. You ever go into a store and their debit/MC/VISA is down but you really want something?

as well as you never know where you may need to use cash....say you run outta gas, and someone in a nearby house gives you some. I'd like to have some $ to offer as a thx.

Aside from that 20.....nope. I live in a plastic world. Pay everything by credit card because we earn points on it and we pay it off every month so no interest charges. I can use debit if need be, but most places now take credit

 

[gailc]

I hadn't carried much cash at all but since I started my part time job I have to go to the bank to cash it so I take out $45-$50 every other week. I stick $25 in my piggy bank and keep the rest in my wallet. So I find myself using a bit more cash. We also now have more cash in the checking account so I'm using my debit card more instead of the credit card.

I always have two debit cards and a couple credit cards with me as well as my business checkbook so I'm always prepared!

 

[cats4sky]

i use my visa debit card as a credit card for everything, i only take cash out when absolutely necessary, i usually keep a few singles for the vending machines at work. This drives my mom nutz, especially when i have to borrow a few bucks and then when she asks for the money back i have to explain to her that i have it, just not on me lol. i tried to exp to her the benefits of a debit card instead of writing checks and only being able to get your money out during bank hours but she dont get it....she still refuses to get one!

 

[pushylady]

I rarely have more than $20 on me. I always use my cards, except at places like the dollar store or corner store.

 

[cdubbie]

I feel very uncomfortable not having cash on me at all times.
I try to spend cash on a majority of expenses - it helps me budget much better.

However, we had a debit card and got rid of it, after hearing the advice from Clark Howard. He said never, never, never, ever, ever, ever use a debit card. Most are not protected like credit cards are (you can only lose $50 on a credit card--our debit cards could lose $1,000 per day!), and every use of it risks every penny you have in your account.

Don't use debit cards!

In addition, many gas stations block as much as $50 in your account as soon as you swipe the card, so that they can be sure the card will be honored. The block is supposed to be removed when the transaction is completed, but it CAN take as much as 72 hours to be removed. Same with a hotel; most block at least $100 when you check in, and some block more.
__________________

This is my thinking - even if (in theory) I get it back, I do not want my acct screwed up and frozen for days. This happened to a friend of mine on vaca - and she had NO money for a few days during her trip. I also have bounced checks/transactions before b/c the gas station putting a large hold on my $15 worth of gas. I am still hit with a NSF fee. I'm not one of those ppl who has over $1000 sitting in my checking acct "just in case".

I also think it is absurd that either I or the merchant has to pay a fee because *I* want the convience (although I think cash is far more convienent). I especially find it absurd to do a debit/credit transaction for something like an ice tea - while having a fee put on something that is under $2 - ridiculous.

For you non-cash people - do you at least have a stash at home in case the power is out for a long while or you have to evacuate?

 

[snosrap5]

Originally Posted by Going Nova

I never have cash. It's a great idea to have some in case of emergencies, but I wind up spending it!

I have something like $6 in my wallet right now, that I've worked hard at not spending.

Originally Posted by katiemae1277

I hardly ever have cash, I'm like Nova in that I spend it if I have it

I use my debit card for everything

That is so me!! If I have it than it's normally gone in a few hours.

 

[sarahp]

I never carry cash on me. If I know it's there I say "oooh Baskin Robbins, well since I have $5 on me..."

Originally Posted by CDubbie

For you non-cash people - do you at least have a stash at home in case the power is out for a long while or you have to evacuate?

We keep a bunch of cash in a secret hidey hole in the car - we have a couple of $20's, $10's, $5's and a bunch of $1's for those few occasions that we need it.

 

[meowqueensdaddy]

Originally Posted by CDubbie

I also think it is absurd that either I or the merchant has to pay a fee because *I* want the convience (although I think cash is far more convienent). I especially find it absurd to do a debit/credit transaction for something like an ice tea - while having a fee put on something that is under $2 - ridiculous.

For you non-cash people - do you at least have a stash at home in case the power is out for a long while or you have to evacuate?

I agree about the fees... it's hard not to think that excessive Visa/MC usage contributes to a rise in prices of small things like coffee.

Using a debit card also lets my spending get out of hand easily... if I'm going shopping and I know how much I can afford to spend, I should just go get the cash. If I have the card, it's far too easy to spend more than I planned.

Sometimes I have a stash, sometimes I don't. If I'm traveling by car, there's a stash in the car (don't even ask where... let's just say you need a wrench to get to it). But I really should keep more on hand... living in an area prone to earthquakes, I should be more prepared than I am in the money dept.

 

[strange_wings]

Originally Posted by AbbysMom

They called last night and I asked what the problem is. It is part of the Heartland breech:

I'm sorry to hear that. I hope nothing bad has happened on your account because of it.

 

[rosiemac]

I carry about £50-£60 on me

 

[wellingtoncats]

I do not carry cash reguarly. I've got $3.50 cash on me at the moment because it was for my bus fare to work but now Kieran is going to take me.

I use my eftpos card for everything and since I'm a student there are NO fees. I've got an overdraft with the bank and I don't withdraw cash unless I need to because it's the bank's money, not mine!

Everywhere here in NZ has Eftpos - I was surprised when I went to Melbourne and about 50% of the shops didn't accept eftpos.