Tell us something we don’t know.

[WinterDeere]

I had a business for many years and I cannot understand the "add 3% c.c., cash discount" reasoning.

I suppose it depends on the business. It sounds like you were in retail, but I'm in commercial electronics. My last two invoices were around $125k, and CC processing fees on that would cost me $3000 - $4000 per invoice, while also opening me up to battle with a CC company if any customer ever wants to later claim damages. Much safer and less costly for me to just accept payment by ACH or check.

Most businesses seem to prefer ACH on anything over maybe $30k anyway, as even most business CC's have associated limits, and printing paper checks comes with serious security issues.

 

[bigtiller]

I got carded for a cash purchase!

In the mid 70's, I made a $35 purchase at a large department store just before Christmas. I handed the cashier a $50 bill and she phoned for a manager.

He showed up and asked to see some identification. He looked me over, head to toe and said I was okay.

 

[two_bit_score]

I got carded for a cash purchase!

In the mid 70's, I made a $35 purchase at a large department store just before Christmas. I handed the cashier a $50 bill and she phoned for a manager.

He showed up and asked to see some identification. He looked me over, head to toe and said I was okay.

Ok for what? To buy something with cash?

 

[bigtiller]

Ok for what? To buy something with cash?

Yep, I thought it was ridiculous also.

I got a little satisfaction years later when they went bankrupt.

 

[MossRoad]

I got carded for a cash purchase!

In the mid 70's, I made a $35 purchase at a large department store just before Christmas. I handed the cashier a $50 bill and she phoned for a manager.

He showed up and asked to see some identification. He looked me over, head to toe and said I was okay.

Maybe that should be in the other thread about getting old!

It wasn't that long ago that most places would not accept anything over a $20.

Up until a few years ago ATMs didn't give out $50s just because of that. Now some ATMs will ask you if you want 50s or 20s.

I can't remember possessing $50s until the past 10 years or so. The only time I'd see $100s was if I specifically got them from the bank for use in large purchases or going on vacation. We'd break them at the hotel lobby if needed.

 

[Oaktree]

I had a business for many years and I cannot understand the "add 3% c.c., cash discount" reasoning. The best thing I ever did was accept credit cards in early 1980s. It was about 3% (2.9) and 60c per transaction so I simply posted no cc if below $5 purchase.

I have to wonder about that with increasingly small tabs being paid by CC...on-street parking meters, drive-thru coffee shop/fast food places, etc. It's gotta add up fast. I'm sure all these costs just get passed along.

 

[Jstpssng]

I used to carry a 50 for emergencies. Now I've had to boost that up to a 100$ bill.

 

[BnRidge]

I got carded for a cash purchase!

In the mid 70's, I made a $35 purchase at a large department store just before Christmas. I handed the cashier a $50 bill and she phoned for a manager.

He showed up and asked to see some identification. He looked me over, head to toe and said I was okay.

Today that would be like handing someone a $500 bill. Not a common denomination. There are more $100s than $1s in circulation at the moment though.

 

[two_bit_score]

A lot of American Indians at one time and maybe still now would not carry a $20 bill because it had Andrew Jackson on it. A lot of rodeo cowboys considered $50 bills bad luck.
Of course, you've probably heard all the stories of places where you couldn't make it with a fist full of $50's.

 

[ultrarunner]

Maybe that should be in the other thread about getting old!

It wasn't that long ago that most places would not accept anything over a $20.

Up until a few years ago ATMs didn't give out $50s just because of that. Now some ATMs will ask you if you want 50s or 20s.

I can't remember possessing $50s until the past 10 years or so. The only time I'd see $100s was if I specifically got them from the bank for use in large purchases or going on vacation. We'd break them at the hotel lobby if needed.

With the ways things are going maybe bring back the $500 and $1,000 bills?