Do Pawn Shops Take Debit Or Credit Cards – SOLVED!

Brian McCracken


Will Pawn Shops Accept Credit Or Debit Cards?
Well, now here’s a fun question. Do pawn shops take debit or credit cards as a form of payment?
I would absolutely love to sit here right now and tell you that there was one answer that completely fulfilled this question. Sadly however, that is just not the case.
You see there are a variety of issues that we have to address in order to totally answer this question.
The first thing that we have to agree upon is the fact that not all pawn shops are the same.
They are all owned by individual small business owners that will have their own rules on what forms of payment they are willing to accept.
There are plenty of pawn shops out there that won’t take credit cards at all for anything, no matter what you are doing in the pawn shop.
While that certainly isn’t the majority of pawn shops, they do exist out there and you should be aware of them.
The next thing that we really have to address is the fact that in one case you may be talking about using a debit or a credit card to repay a loan, and in another case you may be talking about using a card to purchase something.
A common question people ask about pawn shops is this: Do pawn shops accept debit or credit cards? In some cases, the answer is yes. However, in other situations, like repaying a loan, the answer is usually no.
Can You Use A Debit Or A Credit Card To Repay A Loan In A Pawn Shop
Now this is a much more direct question.
In most cases, you will not be able to use a debit or a credit card for the repayment of a loan. This is often because there are laws that prevent the pain of one loan through unsecured financing such as that of a credit card.
Now in some cases there are pawnbrokers that will allow you to use a debit card to repay a loan assuming that you use it as debit. This is not the majority of cases unfortunately though.
In addition to the questionable nature of using one loan to repay another, there is the concern about there being a problem with fraudulent cards.
Pawn shops will not want to turn over the merchandise that loans are based upon with the loan being repaid with something that could be possibly prone to theft or misuse.
So with that in mind, it never hurts to ask your local pawn shop if they will accept a debit or credit card to repay a loan, but I wouldn’t get my hopes up that that will be the case.
Can You Use A Debit Or A Credit Card To Purchase Things In A Pawn Shop
This is a much more straightforward scenario that comes with a much more simple answer.
The bottom line here is that if a pawn shop accepts credit cards, then they are going to be willing to accept credit cards for the payment of merchandise that you purchase in their store.
Keep in mind that there are many pawn shops out there that still operate on a purely cash only basis.
These pawn shops are not the majority of pawn shops out there and are certainly the minority. That having been said, keep in mind that they do exist, so don’t always count on being able to use your card if you have never done business with the pawn shop before.
The Nerds Opinion
My two cents on the topic is this: When you made a loan at a pawn shop, they give you cash on the spot. Because of that, it is not incredibly unreasonable for them to expect cash back in return.
This will assist the pawn shop in continuing its day-to-day operations without the worry of constantly running out of cash. This is secretly one of the reasons that many pawnbrokers will absolutely refuse to take cards if they can avoid it.
Cash handling is always a problem in pawn shops because they are primarily a cash business.
Additionally, pawn shops will typically have more cash going out than they will have coming in. This only makes the need to have cash come in more significant, and therefore acts as a deterrent for most pawnbrokers to want to accept cards.