Paying rent using a credit card

[skater]

I work for a major retailer. Usually, the people who pay with cash are old people and tradie types . I foresee a time in the not too distant future when cash will no longer exist - I look forward to it, actually. Gets rid of a lot of problems.

I pay with cash! I hate using EFTPOS. I didn't think I was THAT old!

Paywave makes paying smaller amounts with a card almost instant - the disgruntled moans and sighs from people waiting in line behind those paying with a card are no longer justified (customers who take forever to scratch around for $48.85 in gold and silver coins are far more common and waste the time of others waiting ). Those who are amazed by people paying for their $2.50 soft drink or their $2 newspaper with a card are living in the past.

I'm one of the ones who roll my eyes at people using a card for petty small amounts.

I never have cash on me, ever. All our income gets deposited directly into our bank accounts so we never actually 'touch' it - and we don't line up at the post office or local council chambers, etc with the pensioners to pay our bills as we use internet banking so we very rarely need cash on us.

I pay bill via internet banking. No issue there, but have a real issue with having statements, pages long with pointless little entries. I'd much rather they all be cash, so I can easily see the larger stuff that I want/need to keep track of.

I don't shop at places where there is a minimum purchase price (I leave the items and walk out, just like Geoff's daughter) or who don't provide eftpos facilities - these businesses have their heads in the sand and need to accept the times.

Well.....I run a Business & don't accept cards at all, other than Paypal, that is. Of course, most of my stuff is online, but I do have customers at the skating rink, but that is only once a week. No point in getting merchant facilities for one day per week, & then only when the weather's nice. So, if they want to buy skates they need to pay cash.

 

[gottabespotless]

I pay with cash! I hate using EFTPOS. I didn't think I was THAT old!

I'm sure you're not old, Skater - that's why I used the word "usually" and not the word "always". Of course there are exceptions, but from my mere observations, older people are far more likely to pay in cash. Younger people usually use their card.

I'm one of the ones who roll my eyes at people using a card for petty small amounts.

Have you ever seen how quick paypass/paywave is? They simply hover the card over the eftpos machine and it's done! So fast. When paying smaller amounts with cash, lots of people take the opportunity to empty their wallet/purse of all the small coins that have been weighing them down. Again, of course, not everyone who pays with cash attacks with the shrapnel, but when they do, it definitely takes longer.

I pay bill via internet banking. No issue there, but have a real issue with having statements, pages long with pointless little entries. I'd much rather they all be cash, so I can easily see the larger stuff that I want/need to keep track of.



Well.....I run a Business & don't accept cards at all, other than Paypal, that is. Of course, most of my stuff is online, but I do have customers at the skating rink, but that is only once a week. No point in getting merchant facilities for one day per week, & then only when the weather's nice. So, if they want to buy skates they need to pay cash.

Fair enough, it's your choice but, and this probably doesn't apply to the skating rink, but people like choice and they especially like convenience - considering I don't receive any form of payment in cash, I personally find it annoying to have to go out of my way to find an atm to withdraw money (and probably pay $2 for the privilege of doing so if it's not my bank's atm) to pay a particular business I'm at in cash.

 

[geoffw]

We don't have Eftpos at our market stall. There's no phone lines for a start- so mobile transactions are more expensive. But I think that people at a market expect to pay cash. We've had very few people ask if we accept cards. The people who run the place probably run the ATM- they have a monopoly over drinks, which is a real pain.

Personally I'm ok with using either cash or card. Certainly in Canberra one always needs to have coins for parking.

 

[ashes]

Personally I'm ok with using either cash or card. Certainly in Canberra one always needs to have coins for parking.

In Brisbane, the parking meters accept cards now.

I am also one of those people who hate having to use cash. And will use card on everything possible.

I do dislike the merchants who refuse to do pay pass. We have a few nearby who disable the pay pass. No idea why, except perhaps they haven't taken the time to learn it.

 

[geoffw]

I would have loved pay pass. Twenty people queued up for their lunch, with the big bottleneck at the register. Especially for people who aren't sure if one card has enough money, who have to check several.

 

[Moneyman_85]

Im with you gottabespotless

Never have cash except for a haircut i get ($12!) and a massage (they don't take cards), everything else goes on the CC

Ive only had this setup for a year, pay all living exp on cc then pay the whole thing off start of each month, and its worked so far, alot of people accepting Amex with no charges, even for my $5.20 sub at subway!

John

 

[neeko]

But ross greenwood said its not worth having a rewards cc....... Anyone care to discuss???

 

[neeko]

In Brisbane, the parking meters accept cards now.

I am also one of those people who hate having to use cash. And will use card on everything possible.

I do dislike the merchants who refuse to do pay pass. We have a few nearby who disable the pay pass. No idea why, except perhaps they haven't taken the time to learn it.

Cause it takes 2-3 days to process.

 

[tobe]

I agree, rewards cards are fools gold, for the majority of people using them. of course, the majority of people think they are above average and thnk they are getting something out of their rewards cards.

I would like an estiamte on when paper money is going to disapear? If it is on its way out surely the reserve bank would know and be issueing less money?

In fact its the opposite, last time I saw, the mint was issueing more money.

http://www.rba.gov.au/publications/annual-reports/rba/2012/html/currency.html

Banknotes on Issue
At the end of June 2012 there were around 1.1 billion banknotes worth $53.6 billion on issue. The $50 and $100 banknotes continue to account for the majority of banknotes on issue, with a combined share of 91 per cent of the value and 65 per cent of the number of banknotes in circulation.

Banknotes on Issue
$ million
At end June $5 $10 $20 $50 $100 Total
Source: RBA
2004 533 791 2,533 15,941 14,224 34,022
2005 539 837 2,584 16,740 14,924 35,624
2006 572 857 2,690 18,044 15,903 38,066
2007 591 894 2,846 19,228 16,730 40,289
2008 614 917 2,732 20,111 17,690 42,064
2009 644 954 2,651 23,721 20,117 48,087
2010 673 983 2,653 23,711 20,740 48,760
2011 731 1,010 2,796 24,288 21,234 50,059
2012 737 1,059 2,980 25,663 23,156 53,595

The value of banknotes on issue increased by 7.1 per cent in 2011/12. Following sharp growth in demand for banknotes immediately after the global financial crisis, and subdued growth in the ensuing two years, growth in banknote demand over the past year has returned to levels consistent with that experienced in the years leading up to the financial crisis.

 

[ashes]

Cause it takes 2-3 days to process.

But they accept the card if I swap and use a pin, just not the contactless payment. Even though the equipment for contactless is right there.

 

[gottabespotless]

I would like an estiamte on when paper money is going to disapear? If it is on its way out surely the reserve bank would know and be issueing less money?

Interesting to read your info from the Reserve bank regarding paper money. People must pay cash at a lot of other businesses.

In regards to rewards points earned from credit cards - I'm happy with it. We deposit our incomes into our PPOR mortgage and put all our living expenses on our cc. We then pay the cc off IN FULL at the end of the cc's interest-free period and start over again. It results in a lot of points over the course of a year and we convert these points to gift vouchers from different retailers and use them to purchase Christmas presents. I can't recall the last time I bought Christmas presents for the kids/family using cash or card, so it works for us. I would assume that some people don't pay their cc bill off in full when it's due and therefore incur the huge interest charged when cc aren't paid off - I agree that for folk who do this, what's the benefit in having points/vouchers if you are paying huge interest on your cc bill. But for those who are disciplined with their cc and use it wisely, there's no issue with a rewards/points system, surely??

 

[Moneyman_85]

free fuel card for using a CC everyday seems to be worth it

Plus i don't pay fees for my platinum card

 

[Moneyman_85]

Back to the question tho, does/ would anyone do it, or would the CC charge put you off

 

[geoffw]

It's not rent, but I've just paid $7,000 in council fees using a credit card (for a granny flat build).

I wanted to do a bank transfer, but that would have delayed the building approval by up to two days. It cost no extra for the cc.

 

[Moneyman_85]

thats interesting Geoff

has anyone paid stamp duty using CC?

John.

 

[Ideo]

Some councils charge up to 2.5% for using a credit card for DA fees.

 

[Kinnon Bell]

thats interesting Geoff

has anyone paid stamp duty using CC?

John.

I was going to pay ~$20k stamp duty recently on the CC but the OSR was going to charge me a processing fee of .4% which worked out more than the value of points I would have received.