Skip to comments.Who Needs Pocket Change When You’ve Got Plastic?
Posted on 06/18/2007 9:46:06 AM PDT by kiriath_jearim
Every morning on his way to the Concord, Calif., high school where he teaches physical education and health, John Nunan buys his breakfast. After he swipes his card through the reader, his bank debits the purchase from his account. He often repeats the process for lunch and dinner.
The amounts are small. For example, his usual breakfast of coffee and a Western omelet bagel from a coffee shop comes to $5.35. He said he debits his bank account pretty much for every meal that I eat out.
Mr. Nunan, 25, is part of a group that some major credit card companies and banks are calling Gen P, or Generation Plastic. It refers to spenders 18 to 25 years old who are increasingly using debit or credit cards, collectively known as payment cards, for nearly every on-the-go purchase.
(Excerpt) Read more at nytimes.com ...
I’m way outside of this age group, but it fits me. I use debit for almost all purchases. Never seem to have cash on me and I hate writing checks.
I use my card for nearly everything, unless I can see it is going to throw a monkey wrench into the flow of someone’s work or unless it is less than $7-10 depending on the venue.
Most places now (especially since you don’t need to sign for under $25) are set up and don’t seem to have a problem with it.
My mother teases me about never having cash on me, but I don’t see what the point is. As long as I have a few coins to feed the parking meters, I’m fine. And even most of the city parking spaces take credit now!
Me, too. Its much easier to track spending this way, too..
LOL...my wife is a cash person, and I rarely have more than $20-40 on me at any time, and probably average $5-10.
I had $3 in my wallet this morning...she constantly ribs me about it. She rarely has less than $60.
I’m not sure why this article focuses on 18-25 year olds.
I pay the full amount of my credit card every time. By using a credit card instead of cash, I save ATM fees.
Clearly, based on their recent TV advertising, Visa is trying to make people who use cash feel like social outcasts, selfishly holding everyone else up.
Insidious social engineering.
Yes, for you and any others who can access the information...
Count me in on this group- but I am 49, and I can’t remember the last time I had cash on me. (seriously - its been months)
You may see the reason if the credit card networks ever go down.
What I find interesting is that some people who are very concerned over a national ID card appear unconcerned over leaving a detailed record of their day-to-day lives in the databases of their card issuers.
Visa is running a second ad where a guy who dares to offer two dollars for a couple of doughnuts is looked at as a pariah. The girl in back of the counter looks like she wants to strangle him.
I also see no reason to let anyone, the government included, know where I go, what I do, and what I buy on an everyday basis.
I don't even have one of those grocery store cards that you get money off of your purchase. Why?
Because I don't want anyone, the government included, to know what I buy.
There IS the added benefit of ticking the clerks off when they have to make change...
Petty cash purchases should be made out of petty cash.
Why anyone would use a debit card over a credit card is bound me.
I’m not one who places a high value on professional psychiatric counseling....but in this case I think that you need to see someone about your irrational fear of leaving a “paper trail” for mundane items.
I figure...let them track my purchases at the grocery store or a couple of bucks for a danish and coffee. Take $20 or $40 in cash back from the debit and save it for the purchase of firearms and ammunition with cash. You go to the back and withdraw $700 in cash or write a check to Jimmy’s Gun Shop then they have you anyway.
Yep, I get the same ammount of cash from the same ATM at approximately the same time and days of the week. Any data hound is not going to to be able to figure out where I spend my money.
I would just go to my bank and take out cash. Even when the power is out for weeks after hurricanes, my local bank comes up on generator power.
If we’re talking doomsday, all credit card processing is down forever-type scenarios, and I can’t get to my cash because the banks are overrun by terrorists or zombies or the plague, I don’t think greenbacks are going to be much use anyhow. ;)
Credit cards work perfectly for me. It provides me with a 30-60 day interest free loan, while paying me 1-2% back on all purchases, and keeps me from having to carry cash. I’ll even use it for a $3.50 meal from McDonalds. They are just no good for borrowing money (high rates). I always pay the balance in full.
All my purchases go on a credit card, which is paid off at the end of the month. I've never incurred any interest charges, I actually get to float someone else's money for ~30 days, and I get Hilton Honor points for every dollar spent (which adds up to six nights in a premium Hilton resort about once every two years).
Very true! When massive storms (for instance) knock out the power and telephone lines you better have cash! I thought that I had enough but after 5 days of no power and having to pay cash for generator gasoline (at the one gasoline station about 20 miles away which had emergency power), I had to drive 120+ miles (roundtrip) to find a working ATM machine in order to get cash! Now, when a big storm is on the way, I make sure that I stock up on cash!
I have $$ on me usually, but never change. I felt funny using my debit card the other day for a $4.50 purchase, though....
I only use cash for those illegal purchases.....
Indeed. I use my debit card almost exlusively for purchasing, but I do keep $40 tucked away in a hidden fold of my wallet for emergencies. I learned the hard way that not doing so can be painful.
Three years ago I was crossing the Sierra’s through one of the minor passes when I had to stop and get gas at a small station in the middle of nowhere. Their card reader was down, and I had no cash on me. They certainly weren’t going to loan a total stranger fuel on faith, and their sense of charity was on leave that day, so I ended up having to call AAA and have a tow truck bring out some fuel. All because I had no cash.
There are also still some places that, for some stupid reason, set minimal transaction amounts on all card purchases. A mile or two from my home is a little quicky mart that will NOT permit ATM or credit purchases for amounts less than $5. They claim it’s to counter the high merchant fees charged by the credit card companies, but I suspect it’s just a scam to get their customers to buy more. I just never stop there at all. I don’t stop at AM/PM anymore either, since they instituted their fees for pay at the pump ATM transactions (it was a 45 cent surcharge when I began boycotting them two years ago, but I’ve been told that it’s gone up since).
Everyone here needs to view there movie.
America: Freedom to Fascism
I prefer to write out checks whenever possible, I don’t give a damn about annoyed people waiting in line behind me.
How terrible! My closest bank came up on generator power less than 48 hours after hurricane Wilma hit us. I don’t know what you can do except complain to their management but I can’t believe they wouldn’t serve the community when you really needed it.
You are definitely correct though. It’s always easiest to get everything you need before the hurricane hits, not after!
It is against the rules to limit the amount a person can charge.
A store may do so but if the credit card companies find out he could lose his ability to have cc transactions.
dependent on electric power for transactions
I use my Amex creditcard for EVERYTHING.
I pay it every month like clockwork and last year I got back over $1000 cash in rewards.....I never pay late fees.
....no coins in my pocket (hardly). and if I need more cash than I carry on me, an ATM is usually handy......
No fuss, no muss.
That said, I suppose using a debit card to ride Son of Beast over and over might violate the spirit if not the letter of Rev. 13.
I use my debit card for everything except bait, just about. I do keep cash at home if there is ever an emergency. I hate carrying around cash, and change just screws up my washing machine.
It’s no more social engineering than any other bandwagon advertising. The underlying message of all that kind of advertising, which is a high percentage of all advertising, is “be one of the cool kids, use our stuff”.
As a guy, I have nowhere to keep a checkbook when I’m out (women can keep them in their purses) so I use a debit card often. Hate carrying cash (although my fiance gets annoyed that I never do) because I’m more likely to fritter it away if I have cash.
Debit cards are like a check without the writing and delay in processing. Credit cards create a debt balance that might wind up including interest.
It would be an inconvenience, but I’d still survive - I still HAVE cash and paper checks, just prefer to use the debit.
Irrational? Who said anything about irrational?
Take $20 or $40 in cash back from the debit and save it for the purchase of firearms and ammunition with cash. You go to the back and withdraw $700 in cash or write a check to Jimmys Gun Shop then they have you anyway.
I don't use ATMs, I don't use debit cards (I want to be forced to write down every expenditure from my checking account myself), I draw money out from my bank, not at the ATM in Joe's Bait Shop and Ammunition Emporium.
I don't even HAVE an ATM or a debit card.
As for leaving a paper trail, I would rather leave no trail at all.
I see no reason to let ANYONE know ANYTHING about me other than what I absolutely HAVE to, or those I desire to know.
A credit card company, a supermarket, the government, they are all entities that I don't have a desire to let them know any more about me than they absolutely HAVE to.
You're not paranoid if they ARE out to get you, and eventually, in one way or another, they will be.
you’re right....there is a minor percentage of merchants, though not substantial around here in NY. Most major internet sales takes it also.
There is some truth to that - 30 years ago it was harder to spend money - because you had to go to the bank during their ridiculous 9-4 hours to get money out to spend it.
With a debit card and ATM machines it’s 24/7.
That said, if not for those lovely inventions, I’d still be living at home with my mother because I’m never off work when the banks are open!
But, I’d also be damn near a millionaire. ;-)
Do you live in a bunker?
It probably is the merchant fees, convenience stores live on pretty small margins and depending on the contract they have they could be paying as much a $4 a CC transaction. With small purchases that’s just losing money.
I was at a sandwich shop near the beach one time that had a $20 minimum for credit cards. I didn’t know it when I placed my order. I got sandwiches for me, my GF, and my kid, and had $18 worth of stuff. Guy said it HAD to be $20 minimum, and I said I didn’t want anything else. He said if I wanted the sandwiches, I had to buy more stuff. I said no thanks, and walked out. He was angry, as there was no way in hell anyone else was going to get what i ordered for a sandwich. Oh well.
No, but I do have the requisite amount of guns, ammunition, knives, hatchets, axes, camping gear, and knowhow to live in the deep piney woods, on my own, and be able to take care of my family, for an extended amount of time.
That’s a good thing...but relax a bit. You do sound a bit paranoid.