3 ms·

Hard to tell if you're being facetious, but just in case... 1. If your cash gets stolen, it's goodbye cash. If your credit card gets stolen / cloned in the vas

by objclxt 12y ago

Hard to tell if you're being facetious, but just in case... 1. If your cash gets stolen, it's goodbye cash. If your credit card gets stolen / cloned in the vast majority of cases you're not going to be liable for any of the charges. 2. The more cash you carry, the higher the risk to you, whereas a credit card has a relatively flat risk profile.

snarfy 12y ago
My cash has never been stolen. I have never been mugged. I've had my card cancelled multiple times though due to fraud and now have credit monitoring. My card is far more likely to be skimmed or be stolen/copied in a massive database like Target than for my cash to be stolen. If credit cards are used for risk mitigation, they are failing for the vast majority of transactions. A $10K transaction? Sure. But for a $3 coffee? It's not worth the risk.
- adamlett 12y ago
  > My cash has never been stolen. I have never been mugged. And I've never been in a car accident. That must mean there is no reason for me to wear a seat belt!
- pessimizer 12y ago
  >My cash has never been stolen. I have never been mugged. If you can figure out how to make this scalable to everyone, there will be no advantage to carrying plastic. I have my doubts that this is possible. >My card is far more likely to be skimmed or be stolen/copied in a massive database like Target than for my cash to be stolen. Mine was, at Target, my account was drained of about $2K, and it cost me about six phone calls over two days. The only lingering effect was an example of how trivial an experience with false charges on your debit is, which comes in handy during my rants about how many politicians, news outlets, and credit card marketers scream about card number theft in order to grab eyeballs and push agendas. I'm not a big advocate of slutting your card around, but that's because I don't feel like broadcasting every single minor purchase I make throughout the day, and because it's slower and more annoying (to you and everyone around you) than having your cash ready before you get to the register. I'm embarrassed if by some lapse of routine I get to the checkout and have to use a card for a $10 purchase, and the first thing I do is apologize.
- logfromblammo 12y ago
  I haven't ever been mugged, either. But that guy will probably only clean me out once in our lifetimes. My spouse has taken more cash from me than I care to admit. Be warned, single folks. You won't just lose cash to faceless thieves in dark alleyways. It will disappear into birthday cards, pizza deliverator tips, bribes to children, and other countless, petty, unnecessary, and off-budget expenses. That is where the card advantage comes in. It has your name on it, and you will more easily notice if someone uses it without your consent. It's hardly worth worrying about strangers stealing your money when everyone in your family has a thumb in your wallet 24 hours a day. The additional friction in the transaction process for cards is actually an advantage there. If they made a payments processing system that somehow involved the buyer carrying around a 10kg block of stone everywhere, I'd sign up for that in an instant. I don't care if it makes it more inconvenient for me to spend money, just so long as it is much worse for everyone else.

by objclxt 12y ago

snarfy 12y ago

My cash has never been stolen. I have never been mugged. I've had my card cancelled multiple times though due to fraud and now have credit monitoring. My card is far more likely to be skimmed or be stolen/copied in a massive database like Target than for my cash to be stolen. If credit cards are used for risk mitigation, they are failing for the vast majority of transactions. A $10K transaction? Sure. But for a $3 coffee? It's not worth the risk.

adamlett 12y ago
> My cash has never been stolen. I have never been mugged. And I've never been in a car accident. That must mean there is no reason for me to wear a seat belt!
pessimizer 12y ago
>My cash has never been stolen. I have never been mugged. If you can figure out how to make this scalable to everyone, there will be no advantage to carrying plastic. I have my doubts that this is possible. >My card is far more likely to be skimmed or be stolen/copied in a massive database like Target than for my cash to be stolen. Mine was, at Target, my account was drained of about $2K, and it cost me about six phone calls over two days. The only lingering effect was an example of how trivial an experience with false charges on your debit is, which comes in handy during my rants about how many politicians, news outlets, and credit card marketers scream about card number theft in order to grab eyeballs and push agendas. I'm not a big advocate of slutting your card around, but that's because I don't feel like broadcasting every single minor purchase I make throughout the day, and because it's slower and more annoying (to you and everyone around you) than having your cash ready before you get to the register. I'm embarrassed if by some lapse of routine I get to the checkout and have to use a card for a $10 purchase, and the first thing I do is apologize.
logfromblammo 12y ago
I haven't ever been mugged, either. But that guy will probably only clean me out once in our lifetimes. My spouse has taken more cash from me than I care to admit. Be warned, single folks. You won't just lose cash to faceless thieves in dark alleyways. It will disappear into birthday cards, pizza deliverator tips, bribes to children, and other countless, petty, unnecessary, and off-budget expenses. That is where the card advantage comes in. It has your name on it, and you will more easily notice if someone uses it without your consent. It's hardly worth worrying about strangers stealing your money when everyone in your family has a thumb in your wallet 24 hours a day. The additional friction in the transaction process for cards is actually an advantage there. If they made a payments processing system that somehow involved the buyer carrying around a 10kg block of stone everywhere, I'd sign up for that in an instant. I don't care if it makes it more inconvenient for me to spend money, just so long as it is much worse for everyone else.