Digital News Report – Cash may become popular again as retailers can set minimum purchase amounts for credit card payments. While not every retailer will do this they many retailers will opt for this because of the fees that they from each sale.
The $10 minimum purchase only applies to credit cards and does not include debit cards. Not all stores enforce the minimum purchase rule. If they do post a notice, don’t be surprised and you should have some cash on hand to pay for smaller purchases if necessary. However, the retailer cannot go over $10 for the minimum purchase requirement.
One good reason to pay cash for the things you purchase is that you can easily budget your spending. If you pay with credit cards you may not be watching your spending as closely and may end up spending more money each month.
If you do decide to use your debit card you might want to check up with the banks current charges. They may have increased their banking fees and you may be surprised when you see your bank statement.
By Victoria Brown