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From all the cities I have travelled in the U.S., NYC looks to have the highest percentage of businesses that run more on cash transactions than a credit card - some businesses don't even take credit cards - you see a big sign in their entry door - Cash only!
Being from NYC myself, I have also noticed that perhaps many New Yorkers don't like to use or even own a credit card either.
This is perhaps, primarily because of Identity theft scare, and secondary because credit card is designed to break that barrier in your brain which resists you to spend reasonably well within your means. Not everyone is conscious, and alert enough to use a credit card wisely. But if they have cash to work with then they seem super reasonable to spend as per their current and expected future situations.
Perhaps this is why a huge chunk of population is always under credit card debt.IMO.
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"“If a thing loves, it is infinite.”"
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Location: Great Britain
27,185 posts, read 13,469,799 times
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Quote:
Originally Posted by RICANRICAN
I have the a chick fil a app on my phone i put money in it through their gift cards all you place an order pay for it then all i have to do is pick up my order eat there or take it out easy!
Nandos have a popular app in the UK along with other such outlets.
I have to disagree that financial institutions are getting better at dealing with fraud. Look at Equifax. Seems like the breaches are getting larger each time. For all we know there was some other massive breach over the holidays. They seem to take months to alert the public so its not like we would know now anyways.
Hording gold and silver is fine but if you have to purchase it with a card then there is a record that you purchased it which makes you vulnerable in the event of a bank collapse.
equifax isnt a financial institution per say, they are a reporting institution. i was referring to banks, credit unions, etc. but even equifax is learning from their mistakes, hopefully, and making changes. i wouldnt trust them right now though, but perhaps in the future, we shall see.
equifax isnt a financial institution per say, they are a reporting institution. i was referring to banks, credit unions, etc. but even equifax is learning from their mistakes, hopefully, and making changes. i wouldnt trust them right now though, but perhaps in the future, we shall see.
According to this story in the UK hackers doubled the amount of successful hacks of retail stores this year:
And with Equifax the damage that could happen because the info taken from Equifax is much worse than just someone getting your credit card number.
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