Debit vs. Credit Cards

[deserteagle71]

So I was raised to be frugal. It you don't just have to have it don't buy it. Get up at 4AM and drive to a job, get home at 5PM and get on the tractor and work until dark. That's the way both of them lived and worked until they retired.

I get being a scrooge, well being frugal, honestly!

RSKY

Yup. I'm the same way. My Dad worked in a factory, night shift, for years. And worked the farm during the day. Not sure when he got any rest. We all worked that farm - father, mother, 3 kids. One of the things I always remember my parents saying - there is no such thing as man's work or woman's work. There is only work, so if it needs doing, do it! So all of us kids could milk the cows, drive the tractor, do the wash or the cooking. Whatever needed to be done. Best possible upraising.

My parents never had a credit card. Never bought anything unless they could pay cash for it. Here's the invoice for the first new tractor, with snow plow. my father bought outright - after coming to this country as a LEGAL immigrant, with nothing to his name, 11 years before.

 

[scootr]

Yup. I'm the same way. My Dad worked in a factory, night shift, for years. And worked the farm during the day. Not sure when he got any rest. We all worked that farm - father, mother, 3 kids. One of the things I always remember my parents saying - there is no such thing as man's work or woman's work. There is only work, so if it needs doing, do it! So all of us kids could milk the cows, drive the tractor, do the wash or the cooking. Whatever needed to be done. Best possible upraising.

My parents never had a credit card. Never bought anything unless they could pay cash for it. Here's the invoice for the first new tractor, with snow plow. my father bought outright - after coming to this country as a LEGAL immigrant, with nothing to his name, 11 years before.
View attachment 778227

Cool

 

[Oaktree]

Here's the invoice for the first new tractor, with snow plow. my father bought outright - after coming to this country as a LEGAL immigrant, with nothing to his name, 11 years before.
View attachment 778227

Wow, that translates to almost $35,000 today! For that kind of money you could get a much nicer tractor (likely with more attachments) now.

PIF customers regularly spend on the card. We are small potatoes and probably average about 4k a month that we charge and pay off.

$4k/month on a CC and you're considered small potatoes?!?!? 10-15% of that would be a typical month for me on average, I wonder what they'd consider that??

 

[Torvy]

$4k/month on a CC and you're considered small potatoes?!?!? 10-15% of that would be a typical month for me on average, I wonder what they'd consider that??

We put most of our recurring bills on the card, utilities, fuel, food, etc. High volume PIF customers spend 10k or more a month. By using the card and paying in full, even if you use the low end for cash back/rewards, we get $80 a month net 'income' using the card versus paying directly with cash.

 

[Sigarms]

Methinks William from America is a interesting fellow given is post history and the fact that that I see "Get a Free Quote Online" on his first linked "article".

That said, Welcome to TBN William!

 

[von-mil]

Did not click on the Markbecker link.
Did report it as spam.

 

[Torvy]

Not to mention his thoughts on cards are false. As long as balances are paid in full, no interest is charged. Since debit cards take the cash right away, they are inherently more expensive. (because the cash could be earning interest during the 25-45 days)

 

[Gem99ultra]

No they don't...

Change my mind.

The Marathon gas stations around here charge $0.04/gallon more for CC than cash. Many small stores/businesses tack on an extra 3% for CC purchases.

Now... that's just my experience here in Georgia. May not be that way everywhere. After all, our locals aren't exactly on the cutting edge of current affairs I did find out that you can't buy a tractor with either a DC or CC, even if your limit is higher.

 

[Sigarms]

The Marathon gas stations around here charge $0.04/gallon more for CC than cash. Many small stores/businesses tack on an extra 3% for CC purchases.

Actually, I've found the above to be the case when we go to South Carolina as a family for vacation.

Just hate seeing a sign for X amount only to find out that it's more if you pay with a credit card.

Sorry, just find it very irritating when you want to fill up and you have (or want) to pay cash and you have no clue how much it's going to run you

 

[two_bit_score]

The Marathon gas stations around here charge $0.04/gallon more for CC than cash. Many small stores/businesses tack on an extra 3% for CC purchases.

Now... that's just my experience here in Georgia. May not be that way everywhere. After all, our locals aren't exactly on the cutting edge of current affairs I did find out that you can't buy a tractor with either a DC or CC, even if your limit is higher.

I bought my Diamond C GN trailer on my Amex card.