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Comment by sparrish | Hacker News Reader

After having my card skimmed for the 4th time (at a gas station pump, at checkout at grocery store, etc), I decided to pay for everything with cash. It's not worth the hours it takes to clear up things with the bank and I get a better understanding of where my money is being spent when my wallet gets light.

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I get roughly 2% back on every credit card transaction. For me, worth the hassle of occasional identity theft I'm not liable for.

The 2% is a good point but for me the savings of not wanting to part with my Washingtons has been more than 2%.

You're not liable, but that doesn't mean it doesn't cost you anything to get it straightened out (time).

Also, it's difficult to determine if you end up spending 2% more on purchases than you normally would because of the "convenience" of the card. If you are a person who is diligent about budgeting then I'm sure it's possible but most people I know will just pull out the card at Starbucks if they don't have cash in the wallet to pay. Without the discipline that 2% can evaporate very quickly.

Hope you're not using an ATM to get your cash ...

ATMs are more hardened, and you visit less of them (and you keep visiting the same ones) so you can spot skimmers more easily.

ATM skimmers are not always easy to spot and sometimes aren't even viable from the outside, for example, Bluetooth skimmers.

http://krebsonsecurity.com/all-about-skimmers/

You still reduce your exposure if you just withdraw your money from a few ATMs and pay cash everywhere else, instead of paying by card everywhere, no?

Only use a card with a chip. Problem solved

Chip transactions aren't processed in most gas terminals. It's not mandatory for gas terminals until 2020.

https://www.nerdwallet.com/blog/credit-cards/emv-credit-card...

Which is a real shame, the UK has had Chip and PIN for >10 years.

I can't wait for contactless payments at most gas stations. Seems like the perfect spot for it, you're already going to get your phone out to kill the pumping time anyway.

You'll see signs about cellphone use around a lot of gas pumps. (Though, according to Mythbusters a number of years back, the issue is static electricity, not the cell phone.) It's possible laws might need to change to use a phone payment at the gas pump.

They exist already, just aren't super common. Chevron is probably the most widespread in the US:

http://www.chevronwithtechron.com/findastation.aspx

(There is a filter for "Mobile Pay" at the bottom)

You mean, you're already going to get your phone out to kill yourself while pumping anyway. Static fires are real.

Yes and static fires don't have anything to do with cell phones. If it was a real concern they would be really strict about stopping people from using phones around gas pumps.

When I lived in Europe it was really tempting to just completely scratch off the magstripe, as everyone used the chip. I was never sure if ATMs use the chip or not though.

How many hours will you spend at the ATM withdrawing cash?

You get a better understanding of spending by feeling your wallet then by looking at your bank statements? That smells like a false pseudounderstanding.

You've clearly never tried to go cash-only. You feel the pain when you buy something; pulling out a credit (or even debit) card does not have nearly the same emotional angst.

Seeing those bills go away with the knowledge that they're not coming back is quite enlightening.

Considering that banks use poor customers as a source of fees to make money, the GP comment is spot on. They've regained control, and honestly your "just check a thing once a month" is hardly the kind of visceral knowledge from watching your wallet get thinner as the month goes on.

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