Want to Pay Cash? That’ll Cost You Extra

[DrQ]

Want to Pay Cash? That’ll Cost You Extra​

When Noa Khamallah recently tried to pay cash for popcorn and soda at Yankee Stadium, his almighty dollars struck out.​

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The stadium’s concession stands no longer take cash. An employee directed him to a kiosk that could convert his greenbacks into plastic. Khamallah, 41 years old, fed $200 into the reverse ATM, which subtracted a $3.50 fee and spat out a debit card with a balance of $196.50.​

 

[Passepartout]

We negotiated a special price on a new car a few years ago. Dummy me let it slip that we would just pay cash. The sales dude said to not let the dealer know that, because part of the discount was reimbursed from the financing company and they'd raise the price of the sale if it was cash.

Same coin, different side. We've all had purchase price increase if/when bought with a card. Want the listed price? pay with cash.

Go Figure.

 

[SteveinHNL]

The car company raises the price in cash to cover their anticipated financing kickback? Once you agree on the price, that's the price. If they tried to raise it, I would walk and I would not get 6 feet before they stopped me and relented. And if I got out the door, I would find another dealer, tell them what the negotiated price was, and ask them to meet and beat the price. At the least they'd probably throw in some floormats or whatever. The point is, I wouldn't want to pay more for cash.

 

[DrQ]

We negotiated a special price on a new car a few years ago. Dummy me let it slip that we would just pay cash. The sales dude said to not let the dealer know that, because part of the discount was reimbursed from the financing company and they'd raise the price of the sale if it was cash.

Same coin, different side. We've all had purchase price increase if/when bought with a card. Want the listed price? pay with cash.

Go Figure.

I finance it, then pay off the loan with the cash. It's a win - win. It's a short term hit on Fair Isaacs, but a paid off loan boosts your long term score.

You pay cash, you show no activity for credit scoring.

 

[SteveinHNL]

I finance it, then pay off the loan with the cash. It's a win - win. It's a short term hit on Fair Isaacs, but a paid off loan boosts your long term score.

You pay cash, you show no activity for credit scoring.

This is why Dave Ramsey calls credit scores "I love credit" scores.

 

[DrQ]

This is why Dave Ramsey calls credit scores "I love credit" scores.

Credit is a tool, it can be misused, but it can be used. Dave Ramsey is just a tool.

 

[simpsontruckdriver]

I haven't used cash for almost 2 years. I put everything on credit, then pay it off when the bill comes due. Can't pay it off? Don't buy it, finance only emergencies. In the last 2 years, my credit has spiked from the high 500s to a few points shy of 700. If I must use my Debit Card, I select "credit". Plus, I get rewards!

TS

 

[SmithOp]

Why the hell would he put in $200, is popcorn and soda that expensive at Yankee stadium? These click bait stories are hilarious.

I put everything on my Cap One card, what's in your wallet, then use the cash back on Amazon purchases. My credit score is 818 on Credit wise, using TransUnion and VantageScore 3.0

 

[rickandcindy23]

Our local Mexican restaurant charges 10% to use a credit card, which is the opposite of this. We don't mind paying cash. This is somewhat of an increase in food cost, when you consider for the same menu price, they would give us a 10% discount for paying cash.

 

[chapjim]

Why the hell would he put in $200, is popcorn and soda that expensive at Yankee stadium? These click bait stories are hilarious.

I put everything on my Cap One card, what's in your wallet, then use the cash back on Amazon purchases. My credit score is 818 on Credit wise, using TransUnion and VantageScore 3.0

Maybe he expects to go to some more games. I've had seasons that I attended 45-50 home games.

 

[easyrider]

I finance it, then pay off the loan with the cash. It's a win - win. It's a short term hit on Fair Isaacs, but a paid off loan boosts your long term score.

You pay cash, you show no activity for credit scoring.

Yup. We did the same thing. Took the financing and agreed not to pay it off for a couple of months.

Bill

 

[Cornell]

Where I live we also have the flipside. Restaurants won't accept credit cards.

 

[DrQ]

I always carry cash. It comes in handy when the restaurant's internet/phone goes down and they can't accept plastic. (I haven't seen a CC imprint machine for manual transactions in years)

 

[simpsontruckdriver]

I put everything on my Cap One card, what's in your wallet, then use the cash back on Amazon purchases.

CapitalOne Venture (C1V) Card has some of the best rewards out there. I too use the Amazon rewards, which comes to $0.008/mile. I saw that my AmEx Aspire also has Amazon rewards, but their $ per point is less than C1V. The C1V also has tons of cash back rewards.

TS

 

[jp10558]

I'm starting to carry more cash around again. I used to carry maybe $80 cause who wants to risk a lot on a mugging or losing a wallet. But now that so many places want to charge a fee for using a card I guess I'll oblige them and make them deal with cash + change + etc. I might need to carry ~ $200 now, which I don't really love but it is what it is. I mostly hate the change TBH, I have to remember to either tip it or put in a jug at home...

Honestly, they probably did the math at the stadium, and the hassle for each vendor location to take cash was much more than centralizing it to a few cash machines. Same as casinos or arcades from what I see.

 

[tombanjo]

Why the hell would he put in $200

Be cause he wanted a hotdog AND a beer.

Seriously, the vendor wants to keep the temptation of pocketing a fin out of the employees hands. I bet the employees tips have dropped significantly, as it is much easier to drop the change in a jar, than to navigate the automatic choices of 25%, 35% 45% they present you with and it takes twenty click and 5 minutes of work to change the default amounts.

 

[rickandcindy23]

CapitalOne Venture (C1V) Card has some of the best rewards out there. I too use the Amazon rewards, which comes to $0.008/mile. I saw that my AmEx Aspire also has Amazon rewards, but their $ per point is less than C1V. The C1V also has tons of cash back rewards.

TS

Capital One used to give us money back, 2% of our purchases, then it was gift cards to get the full 2%. I am so not impressed with Capital One for that reason, but the rental cars seem to be good prices, so I am hoping to use that benefit with my current payout of 62,000 rewards. Still considering Capital One Venture X.

 

[am1]

Why the hell would he put in $200, is popcorn and soda that expensive at Yankee stadium? These click bait stories are hilarious.

I put everything on my Cap One card, what's in your wallet, then use the cash back on Amazon purchases. My credit score is 818 on Credit wise, using TransUnion and VantageScore 3.0

Maybe with a balance on the card the stadium has to let him in to use it even without a ticket? Costco style? Or he is a big baller or smart enough to dollar cost average the cost of the $3.50.

 

[Rjbeach2003]

We negotiated a special price on a new car a few years ago. Dummy me let it slip that we would just pay cash. The sales dude said to not let the dealer know that, because part of the discount was reimbursed from the financing company and they'd raise the price of the sale if it was cash.

Same coin, different side. We've all had purchase price increase if/when bought with a card. Want the listed price? pay with cash.

Go Figure.

I just bought a $40,000 car. We did the whole deal and then he came out with the financing info. Told him we were paying cash, and they said OK and took my check. Guess they don't know about the financing kick back.

 

[pedro47]

Dump question how much is one hot dog, a beer and popcorn at Yankee Stadium now ?

 

[4TimeAway]

Shopping for cars is easier if you call them these days and just talk price on the specs you want.

A couple of years ago the markups were crazy, seems like total cost is flat once you negotiate the discounts.

When we say $40,000 for a car, it used to be a higher end brand. Now its just a car, nice and new, but just a car.

 

[tombanjo]

A family of four could easily spend $860 for a day at Yankee Stadium, $523 at Citi Field: Post analysis

Tickets, parking and concessions costs have soared at Citi Field and Yankee Stadium, and families can easily blows hundreds to root for the home team.

nypost.com