Forums > General Discussion   Shooting the breeze...

Divorcing your credit card

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Created by FormulaNova A week ago, 14 Mar 2019
FormulaNova
NSW, 8052 posts
14 Mar 2019 12:30PM
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Does everybody do the tap and go thing now?

I normally do, but recently I had some dodgy transactions go through on my credit card, so its been cancelled and there is a week wait for a new one.

So, I have gone back to using my normal debit card and typing a pin in. I prefer it in a way. It makes me think differently about the money I just spent whereas tap n go is way too quick to make you think you have spent anything. I suspect I will spend less if I have to enter the pin every time.

It's made me realise how many things either expect tap n go now, or make it far easier. Parking meters, vending machines, lots of things use tap n go and I didn't really notice it before.

I wonder how much credit card use has gone up since tap n go? I guess that's why the banks were so keen to adopt it, even with the risk of fraud.

AUS1111
WA, 3277 posts
14 Mar 2019 10:28AM
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There is definitely some psychology there. Most people don't use cash much any more, but I can distinctly remember a higher level of mental pain pulling out a fifty from the wallet compared with using a card.

Harrow
NSW, 2546 posts
14 Mar 2019 4:59PM
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I've gone back to using 100% cash. My wife spends much less when she has to keep taking it out of the ATM.

Agent nods
QLD, 583 posts
14 Mar 2019 5:43PM
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Banks make a fortune out of tap and go.....1.5-3+% depending on merchant, on every tap. Banks lost money supplying cash and receiving cash for all those purchases that where in the <$50 range. Now they make money.

The cost of tellers and security to and from the bank and insurance for the cash, has reduced their expenses as well. It also saves the merchant of endless trips to and from the bank.

So the bit of fraud (If noticed) is not huge.

MDSXR6T
WA, 970 posts
14 Mar 2019 4:12PM
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Harrow said..
I've gone back to using 100% cash. My wife spends much less when she has to keep taking it out of the ATM.

We mostly do the same now. 5 or 6 years ago we were heavy users of our credit cards and we used the points to go to Vanuatu and 5 or 6 other interstate trips but the points seem to be worth so much less now. It's very easy to spend money that you can't see and isn't even yours.

Now we mainly use cash for our random sort of purchases and debit card/savings for bills, groceries etc.

slammin
QLD, 819 posts
14 Mar 2019 7:21PM
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I'm a Luddite on this issue. If I use a card it's with a pin using my money not credit. I don't own s credit card. My wife has a credit card that gets paid off before any changes are racked up.
Therefore to divorce my credit card I'd have to divorce my wife. Um no go there

musorianin
QLD, 200 posts
14 Mar 2019 8:44PM
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Just came back from Japan. Funny for such a highly smart technology savvy culture they use cash still FAR more than we do here. I'm thinking about going back more to cash (while it's still a thing)

petermac33
WA, 4809 posts
14 Mar 2019 7:13PM
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As I mentioned on these forums 5 years back - my friend rocked up with 25k in cash to buy a new Honda.

They said 10K is max they accept,might be lower now.

Cashless society is part of the plan.

THE PIN PULLER
WA, 256 posts
14 Mar 2019 8:37PM
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petermac33 said..
As I mentioned on these forums 5 years back - my friend rocked up with 25k in cash to buy a new Honda.

They said 10K is max they accept,might be lower now.

Cashless society is part of the plan.


Your mate should of gone somewhere else, I seen a fella with 60k rock up to buy an m5 bmw back in the day 2009 or so. They took the hand off him.

AUS1111
WA, 3277 posts
14 Mar 2019 9:20PM
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petermac33 said..
As I mentioned on these forums 5 years back - my friend rocked up with 25k in cash to buy a new Honda.

They said 10K is max they accept,might be lower now.

Cashless society is part of the plan.


That's not quite right. Anyone will accept cash, but if it is more than $10k the merchant is required by law to report the transaction to Austrac - a government agency that sniffs out terrorists, drug dealers and, to a lesser extent, tax avoiders.

Rails
QLD, 1140 posts
15 Mar 2019 5:58AM
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Try to take your money out of the bank these days and see what happens, once it is digital it is not real and it is not really yours

what happens when the the power goes out?
Makes you want to scream

FormulaNova
NSW, 8052 posts
15 Mar 2019 11:31AM
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AUS1111 said..


petermac33 said..
As I mentioned on these forums 5 years back - my friend rocked up with 25k in cash to buy a new Honda.

They said 10K is max they accept,might be lower now.

Cashless society is part of the plan.




That's not quite right. Anyone will accept cash, but if it is more than $10k the merchant is required by law to report the transaction to Austrac - a government agency that sniffs out terrorists, drug dealers and, to a lesser extent, tax avoiders.



That's alright, Pete's friend was obviously a drug dealer.

On the other hand they could have been someone that was terrified of being 'tracked by the authorities', which probably fits the mould better.

FormulaNova
NSW, 8052 posts
15 Mar 2019 11:32AM
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Rails said..
Try to take your money out of the bank these days and see what happens, once it is digital it is not real and it is not really yours

what happens when the the power goes out?
Makes you want to scream


Was it ever real? Its just bits of plastic now. Worth nothing.

Mobydisc
NSW, 8427 posts
15 Mar 2019 12:05PM
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I'm basically using cash for day to day stuff. I don't want that record of what I buy where to follow me. I really dislike using a card in any way at a shop or restaurant. Of course for bills or bigger items that are just say $500 or more I'll use a card or transfer funds but buying groceries or grog I'd prefer using cash.

I'm by myself this week and spent about $30 during this time. I'm planning on fasting this weekend for 48 hours so won't have to buy any food unless I can't make it.

DelFuego
WA, 122 posts
15 Mar 2019 9:21AM
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people who like cash seem to be the ones who avoid paying their tax obligations.

The thing I don't like about the plastic transactions are the mastercard, visa and bank corps taking their 1.5-3.0% skim off every single purchase every day. It is massive when you consider the transactions in every shop, town and city. Its a total rort.

sotired
WA, 545 posts
15 Mar 2019 9:59AM
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DelFuego said..
people who like cash seem to be the ones who avoid paying their tax obligations.

The thing I don't like about the plastic transactions are the mastercard, visa and bank corps taking their 1.5-3.0% skim off every single purchase every day. It is massive when you consider the transactions in every shop, town and city. Its a total rort.


Yeah, I was surprised to see the guy infront of my at the post office pay $600 worth of bills. I didn't think anyone did that anymore, so my guess is that it was cash income. It could be legit though?

evlPanda
NSW, 8628 posts
15 Mar 2019 1:09PM
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FormulaNova said..
Rails said..
Try to take your money out of the bank these days and see what happens, once it is digital it is not real and it is not really yours

Was it ever real? Its just bits of plastic now. Worth nothing.


No, money is not "real".

It is an illusion we all subscribe to because it makes trading so much easier. It is a commonly accepted item of perceived value that can be chopped up into smaller pieces, easily stored and transferred, and a few other things, all of which gives it great utility and thus gives it its value. Actually, its value is not how much you believe it and value it, but how much *other people believe it and value it.

If it was real, like a tree is and not "real" like Tuesday is, then $20 would always weigh 20 x $1.

I like the way cash turns back to useless pieces of paper again outside its home country or region (a country also being "real").

lotofwind
NSW, 4944 posts
15 Mar 2019 5:36PM
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Cash will be gone soon, not many use it now.
Cards will be gone soon with more and more people using tap on their phone.
Drivers license going onto phone soon, no plastic card anymore shortly.
Wallet makers will be out of a job soon, they wont be needed as everything is on the phone, what would you put in a wallet ?

AUS1111
WA, 3277 posts
15 Mar 2019 2:39PM
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lotofwind said..
Wallet makers will be out of a job soon, they wont be needed as everything is on the phone, what would you put in a wallet ?


Frangers?

lotofwind
NSW, 4944 posts
15 Mar 2019 6:08PM
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^^^I think that one in your wallet went out of date in 2004

Buster fin
WA, 1842 posts
15 Mar 2019 5:53PM
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lotofwind said..
^^^I think that one in your wallet went out of date in 2004


And he had a vasectomy in 2014.



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Forums > General Discussion   Shooting the breeze...


"Divorcing your credit card" started by FormulaNova