Forum Discussion
Eric_Lisa
Jan 06, 2020Explorer II
routeforty wrote:
It always appeared to me that you don't get a discount for cash, you're just not charged extra for using a credit card. But I guess you could spin it and say that that's a discount.;)
Quickly venturing out of the OP's topic.... But I have found many small businesses will give a discount for cash. I just have to ask. And the discount can be significant if they are someone I know and I tell them I don't need a receipt. How they do their accounting is their business, not mine.
Staying on the OP's topic.... There are many factors involved here:
- Credit card fees charged to the gas station and passed on to the consumer.
- Immediate funds access by the gas station - cash in hand to pay bills, so they discount the price.
- Credit card reward points.
- Credit card interest fees if not paid in full.
- Risks associated with carrying cash (being robbed of all the cash in hand).
- Risks associated with using cards (card skimmers & theft of all the money in your bank account).
- Personal privacy, having your buying habits tracked & sold.
I think this discussion could go on indefinitely with pros & cons on each side. How the math adds up on each side of the equation varies from person to person. For me it is the value of privacy and anonymity to not be tracked by businesses.
-Eric
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