Will credit cards be used for everything someday?

For just about anything you want to get off your chest about credit cards.
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Mogul of Pineapples
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Will credit cards be used for everything someday?

Postby Mogul of Pineapples » Sun Jun 08, 2008 7:27 pm

Just think back 10 or 15 years. Did people use credit cards often at the grocery store or for paying bills? Nope. Some places using credit cards were unheard of like doctors' offices. You used your checkbook there, which reminds me whatever happened to those anyway? Today you can use credit cards for just about everything and these places usually prefer you do. I know a lot of parking garages are self service and they won't even accept payment with cash.

Think we'll get to the point where almost all financial transactions involve credit cards? Seems like we're heading that way. I'm not saying it's a bad thing because sure there are merchant fees but at the same time also a lot of benefits that cut costs, like no handling of cash or processing checks and paperwork. It definitely simplifies the accounting and the security is better with credit cards.
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magyar1045
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Postby magyar1045 » Mon Jun 09, 2008 8:34 am

Not really "credit" cards, but "debit" cards --using your PIN. I personally hardly ever use my debit card. I am a check writer who does not even believe in online payments except for my car insurance premiums. Each card terminal has a "credit" and a "debit" key. If you hit the debit key the system prompts you to enter a PIN, and within a few minutes the amount is shows up on your bank account. The merchant gets asessed a small fee. If you swipe your card and hit the credit key it is considered a charge and will take longer, sometimes days, to show up on your bank account. And the merchant is asessed a larger fee.

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fffresh
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Postby fffresh » Mon Jun 09, 2008 5:08 pm

Yeah you're right magyar the fees on debit transactions are a lot cheaper than credit. That's why some places will accept Visa/MC debit but they won't take Visa/MC credit.

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Postby JG7 » Wed Jul 02, 2008 8:54 pm

Credit cards are already used for everything today... Most people are in trouble if a place takes only cash because they don't carry any on them... How often do you see people make a big purchase at any store and pull out a wad of cash to pay with... You never see that.

I think the government should issue debit cards to put money on instead of cash because we're headed towards a cashless society very soon...

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Mogul of Pineapples
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Postby Mogul of Pineapples » Tue Jul 15, 2008 12:34 am

I get in trouble myself when places don't accept credit cards. We've become so accustomed to them being open for use anywhere. I flew somewhere today and even the snacks and drinks on the plane they only accepted credit cards for. I've also noticed a lot of parking facilities now are automated and only accept a card for payment. This much be difficult for younger people (under 18) who don't have a card yet, and probably for some older senior citizens too who may not have adapted to using credit or debit cards yet. I know my grandpa would have no clue how to use on and never had one.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

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Postby Multi-Purpose » Mon Jul 21, 2008 12:32 am

I think the growth with credit cards is for things people never use to think to use a credit card for- small purchases, fast food, insurance payments, and that kind of stuff that people usually use cash for
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Postby mkfarnam » Wed Aug 27, 2008 9:51 pm

Credit Cards cannot completely over ride cash. If they did, our homeless population would start growing again. There are, and there always will be a small percentage of our population with "bad credit" "No Credit" and will need the use of cash. Cash will always be need as a back up. Debt Cards will probably replace cash. But that's not credit.

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Postby fffresh » Thu Aug 28, 2008 2:24 am

I don't think cards will ever over ride cash totally but you think maybe a government issued debit card will ever be offered in place of hard currency??

Don't think that would totally replace cash but could be given as an option to use either or both.

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Postby Mogul of Pineapples » Sun Sep 07, 2008 1:12 am

What I think we are going to see is credit card growth surge overseas as all these third world countries like Iraq catch up with the times. Of course there will always be cash but I think the use of cards (credit/debit/pre-paid) will be going up all over the world.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred



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