Who Needs Pocket Change When You’ve Got Plastic?

NY Times ^ | 6/17/07 | ELIZABETH OLSON

[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.

[Obadiah]

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.

[rlmorel]

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.

[Sols]

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!

[cardinal4]

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.

Me, too. Its much easier to track spending this way, too..

[rlmorel]

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.

[kidd]

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.

[newheart]

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.

[Fudd]

Its much easier to track spending this way, too..

Yes, for you and any others who can access the information...

[Mr. K]

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)

[ItisaReligionofPeace]

You may see the reason if the credit card networks ever go down.

[M. Dodge Thomas]

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.

[jiggyboy]

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.

[Just another Joe]

I am, by design, a cash person.
Credit is to be used for LARGE, EMERGENCY situations when you do not have enough cash to pay.

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.

[bird4four4]

I hate those comercials. I pay cash, and my purchases are faster than someone swiping their saver card, then their debit card, selecting credit or debit, punching in ther access code if needed, wait for the transaction to process, wait for the recipt to print, sign the receipt.

[Malacoda]

I pay cash for everything, because I figure if I don't have the actual paper MONEY for it, I don't need to put it on credit -- and a LOT of those debit cards do the credit thing, as well. Plus, I'm old-fashioned, and it's easier to track my spending that way.

There IS the added benefit of ticking the clerks off when they have to make change...

[Mark was here]

The easier it is to drain your account, the quicker it will empty.

Petty cash purchases should be made out of petty cash.

Why anyone would use a debit card over a credit card is bound me.

[Ouderkirk]

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.

[Still Thinking]

I know. I use my debit card a lot, but my nature is that when someone tries to manipulate me into doing something, I do the opposite, so I may start using cash more.