Examples of current inflation - add yours!

[Koolau]

Yes, and that would be legal. Going the other direction (a surcharge for using a card) would not.

According to Visa:

Your gummint looking out for you.

"I'm from the gummint. I'm here to help."

Mentioned before that businesses can negotiate (especially using their trade associations) much lower costs for their use of credit cards. Those that won't "play" can be dropped. Any bidness paying 3.5% for credit cards is over paying IMHO.

 

[braumeister]

Yet gas stations do this often. I don't think it's really illegal, but is against the card issuers terms with the merchant.

I think the gas stations I've used get around it by posting two prices: one for cash and one for credit. Making it obvious like that may make it legal. At least I think so because if not the practice surely would have been stopped by now.

 

[11522914]

Received my annual homeowners policy renewal. Up 24.5%.
Received my monthly internet bill. Up 6.6%.

 

[Walt34]

I think in general people tend to be more generous when using credit card and more thrifty when paying cash.

This seems to be true according many studies by both credit card companies, merchants and merchant associations. On average, the final bill for about anything is 30% higher when the customer is paying by credit card.

One can speculate as to why forever and a day, but it seems to hold true.

 

[Venturer]

I think the gas stations I've used get around it by posting two prices: one for cash and one for credit. Making it obvious like that may make it legal. At least I think so because if not the practice surely would have been stopped by now.

This is true around here with the Kangaroo convenience stores, they have the big sign flashing cash/credit price and it has been .10 more for credit. We went just this past weekend to a BBQ place in Chattanooga Tn. for a quick lunch while shopping. They had a small sign taped down on the counter where you paid that said "the prices listed on our menu is for cash but if paying with a card there will be a 3.5% fee added;thank you for understanding." I paid cash and will not be returning there for my meals again as long as they do this. It is their business and they can do this ,but it is my money and I can choose to not do participate any more. I noticed also that at a local Waffle House their menu has prices listed with a note on it that the price listed is tax included. All menu items were round numbers like waffle $4.50, coffee $2.50 for total $7.00 tip not included. That is something new to me, mabey it makes it easier for the workers to figure the bill.

 

[ExFlyBoy5]

... I noticed also that at a local Waffle House their menu has prices listed with a note on it that the price listed is tax included. All menu items were round numbers like waffle $4.50, coffee $2.50 for total $7.00 tip not included. That is something new to me, mabey it makes it easier for the workers to figure the bill.

That one one thing I loved about living in Delaware...no sales tax, so menu prices where what they were. I give credit to the WH staff, they usually do the math without a calculator...a basic skill that seems like is lacking with some folks.

 

[JoeWras]

Just got a few $100 bills. I'll keep one in my wallet to pay cash at credit surcharge establishments. Yes, I want to make it difficult.

I'm not a mean or vindictive person, but this caused something to boil up in me.

Now get off my flippin' lawn!

 

[Walt34]

I haven't noticed any increase in the numbers of businesses charging extra for using a cc but agree it's just another example of price-gouging the customers. Most people know that cc companies charge transaction fees and the businesses are capitalizing on that general knowledge. What they're leaving out is that on average the customers using credit cards spend 30% more than cash customers. Businesses know this; most customers do not.

I like JoeWras' idea with the c-note though and if I do see an increase in stores charging extra for credit cards I'll copy that practice.

 

[38Chevy454]

Just got a few $100 bills. I'll keep one in my wallet to pay cash at credit surcharge establishments. Yes, I want to make it difficult.

I'm not a mean or vindictive person, but this caused something to boil up in me.

Now get off my flippin' lawn!

Except many stores or restaurants don't take $50 or $100 bills. Or if they do it is after they get manager approval. So a hassle to use. Problem being $100 is the most counterfeited bill.

 

[JoeWras]

Except many stores or restaurants don't take $50 or $100 bills. Or if they do it is after they get manager approval. So a hassle to use. Problem being $100 is the most counterfeited bill.

And that, my friend, is the whole point of presenting it to them.

They want cash and not credit? Well, here's your cash.

You see, they really don't want to deal with cash. They really don't want to deal with crazy-Joes who carry $100 bills. That's why they accepted credit in the first place.

Just one thing. Those pesky fees.

So now they want their cake and eat it too? How about eating some real C-note cash and see how it tastes. Inflation, ya know. $100 bills are the new $20. You should accept them.

PS: one silly tip on $100 bills. Should you ever find yourself with one and don't want to deal with it or be a jerk like me, go to Wal*Mart and buy some gum in their self serve lanes. Their machines have no problems taking $100s and giving you change. Strange that a restaurant can't take it. But, oh wait, that would require buying some vetting and authentication equipment. Ah yes. That would require an extra charge for cash, I guess.

 

[Koolau]

Just got a few $100 bills. I'll keep one in my wallet to pay cash at credit surcharge establishments. Yes, I want to make it difficult.

I'm not a mean or vindictive person, but this caused something to boil up in me.

Now get off my flippin' lawn!

I like it! Let's ALL do that.

Quite honestly, I hate to trudge up to a gas station to stand in line to pay with cash. That was the big draw for me when credit cards first became automated at the pump. Doing away with that convenience would be real bummer. I'll do my best never to give in to that "extortion." Realistically, it's gonna cost them more to hire another attendant just to handle all the extra cash transactions. Or folks will balk when there are 10 people in line paying for their gas with $100 bills.

I wonder how they would feel about a $0.25 gas purchase with a hundred dollar bill. "Sorry, I don't have anything smaller and I cut up all my credit cards when you changed your policy on charging me for using credit cards."

Of course, when I go to Costco or Sams for my gas (95% of my gas purchases) I'm sure their cards cost them very little other than the cash-back they offer to insure loyalty. Heh, heh, THAT was THEIR idea! If they start messing with cash I'm gonna be very disloyal. YMMV

 

[Venturer]

And that, my friend, is the whole point of presenting it to them.

They want cash and not credit? Well, here's your cash.

You see, they really don't want to deal with cash. They really don't want to deal with crazy-Joes who carry $100 bills. That's why they accepted credit in the first place.

Just one thing. Those pesky fees.

So now they want their cake and eat it too? How about eating some real C-note cash and see how it tastes. Inflation, ya know. $100 bills are the new $20. You should accept them.

PS: one silly tip on $100 bills. Should you ever find yourself with one and don't want to deal with it or be a jerk like me, go to Wal*Mart and buy some gum in their self serve lanes. Their machines have no problems taking $100s and giving you change. Strange that a restaurant can't take it. But, oh wait, that would require buying some vetting and authentication equipment. Ah yes. That would require an extra charge for cash, I guess.

I'm glad you mentioned that,I may get a couple $50.00 bills as well in case it is a little smaller bill so I don't get back a bunch of smaller bills.

 

[jollystomper]

I do not know how much turkey prices are inflated. I have heard of shortages in some areas, but there are not shortages in ours. We got ours (13 lbs) for "free" by spending $30 on a regular shopping run at a local grocery store.

 

[Chuckanut]

Of course, when I go to Costco or Sams for my gas (95% of my gas purchases) I'm sure their cards cost them very little other than the cash-back they offer to insure loyalty. Heh, heh, THAT was THEIR idea! If they start messing with cash I'm gonna be very disloyal. YMMV

A big retailer like Costco knows the costs of handling large amounts of cash on a daily basis. It has to be counted at least twice a day, often more. It needs to be safely locked up after hours and even during working hours. It requires more rules and procedures to ensure that employees don't 'tap the till'. And it requires employees who can do math and count back change properly.

 

[ExFlyBoy5]

Except many stores or restaurants don't take $50 or $100 bills. Or if they do it is after they get manager approval. So a hassle to use. Problem being $100 is the most counterfeited bill.

I will admit that I don't carry much cash, but it tends to be $100 bills and I can't recall ever having an issue using them. Granted, I don't use them to buy a pack of gum at the small corner store but otherwise...no issues.

 

[Venturer]

Just got a notice from my Camper storage lot.Price going up 40% on Dec. 1st. from $50.00 to $70.00 a month grrrrr. but unless I can find another place I'm stuck because I can't keep it here at home. It may well be time to look for our down sized further out in country home.

 

[Qs Laptop]

I will admit that I don't carry much cash, but it tends to be $100 bills and I can't recall ever having an issue using them. Granted, I don't use them to buy a pack of gum at the small corner store but otherwise...no issues.

I was in the Dollar Store a couple of weeks ago buying batteries and the lady in front of me pulled out a $100 bill. The cashier called over the other cashier who held it up to the light and looked it over. Then he calls over the manager of the store who also held it up to the light, looked it over, flipped it over to the other side and examined it, then pronounced it fit for commerce.

It's as if they had never seen a $100 bill!

 

[ExFlyBoy5]

I was in the Dollar Store a couple of weeks ago buying batteries and the lady in front of me pulled out a $100 bill. The cashier called over the other cashier who held it up to the light and looked it over. Then he calls over the manager of the store who also held it up to the light, looked it over, flipped it over to the other side and examined it, then pronounced it fit for commerce.

It's as if they had never seen a $100 bill!

Well, at our local Dollar Stores I would venture to guess they don't see too many of them.

 

[Chuckanut]

I was in the Dollar Store a couple of weeks ago buying batteries and the lady in front of me pulled out a $100 bill. The cashier called over the other cashier who held it up to the light and looked it over. Then he calls over the manager of the store who also held it up to the light, looked it over, flipped it over to the other side and examined it, then pronounced it fit for commerce.

It's as if they had never seen a $100 bill!

"Look Lovey, a $100 dollar bill. I didn't know they made them that small." - Thurston Howell, III

 

[Koolau]

"Look Lovey, a $100 dollar bill. I didn't know they made them that small." - Thurston Howell, III

Locally, lots of retailers are checking out $20 bills as well. They're looking through the bill in front of bright light and marking with the pen, etc. I'm guessing someone is passing some bad 20s here of late. Not nice!

 

[braumeister]

Locally, lots of retailers are checking out $20 bills as well. They're looking through the bill in front of bright light and marking with the pen, etc. I'm guessing someone is passing some bad 20s here of late. Not nice!

That has been common for decades.
But what the retailers don't understand is that the pen swipe only works if the counterfeiter used cheap paper, and most of them caught on to that long ago.

 

[JoeWras]

I sold some antique toys and got a few $100s in return. This is what started me on my recent c-note fixation.

I'm having a back to the future moment or something. I kind of like carrying around a few hundred. Using them is strangely empowering. I've had very little pushback, although I wasn't prepared that night at the restaurant. Next time.

What I like is the anonymity. The subject of tracking is currently hot on other threads. Well, with cash, there's less. I won't say zero. My face is associated with those $100 transactions. It's just less automatic than the credit card transactions.

And really, a $100 is about like a $20 from 1980. We'll be seeing more of them and more acceptance of them with this latest round of inflation.

 

[Koolau]

I sold some antique toys and got a few $100s in return. This is what started me on my recent c-note fixation.

I'm having a back to the future moment or something. I kind of like carrying around a few hundred. Using them is strangely empowering. I've had very little pushback, although I wasn't prepared that night at the restaurant. Next time.

What I like is the anonymity. The subject of tracking is currently hot on other threads. Well, with cash, there's less. I won't say zero. My face is associated with those $100 transactions. It's just less automatic than the credit card transactions.

And really, a $100 is about like a $20 from 1980. We'll be seeing more of them and more acceptance of them with this latest round of inflation.

I like having at least 3 or 4 Benjamins in my hidy-hole in my wallet - just in case. Other than that, I prefer $20s just because (usually) I get fewer "hairy-eyeball" looks from merchants.

By the way, the "hairy eyeball" reference comes from "Alices Restaurant Massacree" by Arlo Guthrie, presented here in honor of Thanksgiving (words to follow.)

https://genius.com/Arlo-guthrie-alices-restaurant-massacree-lyrics

Returning you now...

 

[braumeister]

Being the geezer I am, I still use cash a lot.
Normally a few 50s and several 20s in my wallet, as well as a few 2s.

I nearly always leave 2s in tips because most people seem to enjoy getting them, even when they're not quite sure what to do with them.

I also usually have a couple of $1 coins in my pocket, which can be great fun.

Mild rant:
I really wish we could get with the program like Europe and Canada have done, and issue $1 and $2 coins to take the place of the paper. I'd even get rid of pennies as well.

 

[JoeWras]

Mild rant:
I really wish we could get with the program like Europe and Canada have done, and issue $1 and $2 coins to take the place of the paper. I'd even get rid of pennies as well.

I think currency discussions fit well into inflation discussions because it is changing the way we use cash.

We have the $1 coin now. Heck, I have 3 different versions in my drawer right now. Ikes, Anthonys and Sacagaweas. The Anthony was a disaster since it looked like a quarter. The Sacagawea is a fine coin, but is dragged down by the bad history of the previous two.

I agree with you. The $2 coin could by a gold circled by silver, and for once WE copy Canada. Vending machines are ready for it because... Canada.

And kill the penny already.

Problem is that I think it will take a literal act of Congress to kill printing $1 and $2 paper bills or minting pennies. The half cent was stopped in 1857. We've had a lot of inflation since then!