So that's the basis of a comparison. Cost of cash vs cost of credit cards over the economy.
I can't resist an aside. A buddy of mine was in a well known cash business. You can imagine. Anyways, hanging out with him, we'd be driving around and he'd need gas. He'd pull out 2 or 3 $20s, hand them to the attendant pump gas and go. Some gas stations gave a cash discount.
It seemed to me that credit cards were supposed to be fast and convenient, but if you're choreographed for cash, it ain't so.
> It seemed to me that credit cards were supposed to be fast and convenient, but if you're choreographed for cash, it ain't so.
This is very apparent in (many parts of) Europe. Cash is so much faster there than in America, for a few reasons. The primary cause, I think, is the fact that the prices are generally round numbers, with tax included. This means that you can, in most cases, pay with a small number of coins or bills. In the USA you'd be wrestling with pennies.
Euro notes also have different colours and sizes, making it much easier to get the correct ones right away. I find Euro coins more useful, too (highest commonly used denomination is 2€ vs 25¢). I'm annoyed by the 1 and 2 cent coins, though, and am in favour of abolishing them. They only clog wallets.
I can dip my credit card in the pump faster than I can walk into the station and hand over cash. Never mind what happens when I'm topping off before a trip and don't need $20 in gas, requiring change. That's not the best example of how cash is supposed to be fast.
I can't resist an aside. A buddy of mine was in a well known cash business. You can imagine. Anyways, hanging out with him, we'd be driving around and he'd need gas. He'd pull out 2 or 3 $20s, hand them to the attendant pump gas and go. Some gas stations gave a cash discount.
It seemed to me that credit cards were supposed to be fast and convenient, but if you're choreographed for cash, it ain't so.