Didn't the Steak and Shake restaurant used to accept cash only?

Answer 1

used to be that way...but with debit / credit cards, now it seems all fast food places take them. more convenience for the consumer.

Answer 2

Steak and Shakes have been around for awhile so I'm sure that they were cash only for a time.

As far as credit card usage goes it only makes sense to upgrade. I remember seeing something in the news about the average person spending more money on their meal when credit cards are used as compared to a cash purchase. It would be a cost factor to S&S. They believe that they can make more sales taking credit cards than cash only.

Answer 3

In short, it's because they can. Less short. Cashing checks or processing charge cards costs them money plus they do not always get their money right away. and they have decided that instead of raising their prices a bit, they just do not allow them. Your credit cards charge the merchant an average of 3-5 % and often a minimum of 1% and topping over 7%. Since it is illegal for them to add a charge to use a credit card, their choices are either to raise all their prices a couple percentage points or not accept cards at all. One drawback of accepting cash only is that a thief knows that there is a lot of money in such stores and they tend to get robbed. Another drawback is that those stores are relegated to being low priced restaurants as people are less likely to be carrying around that much money and it turns off out of towners.

Answer 4

You are correct. I wasn't all that long ago, maybe 6 or 7 years ago that my husband went to a Steak and Shake and we were told just that. They only accepted cash. Could anyone imagine a restaurant or store doing that now? No way.

Answer 5

Steak and Shake has been taking credit cards for as long as I can remember, but Waffle House used to be cash only, and now they are taking credit cards (in FL at least).

Answer 6

i know what your talking about, yeah some places only wanted cash

Answer 7

yes