Discussion in 'Everything Else' started by vebselpo, Feb 7, 2020.
Guys, what do you prefer to use over your expenses? Cash or credit card?
Credit cards are more convenient these days because almost every where you go you go the option of paying with the credit card is available. It is also more reliable unlike handling cash which may present other issues such as insecurity. It will also be easier to analyze expenditure when a person uses credit cards unlike using cash. This will enable proper book keeping.
I definitely use cash on my everyday expenses that I have; e.g. food, transportation, miscellaneous. I use my credit cards on appliances, booking flights, concert tickets, gadgets because I can spread the payment and minimize my monthly dues over paying it straight-up. Though credit cards are very convenient for emergency purposes and for people who don’t want to encash large amount of cash and just stuck it inside their wallets. Having an enough amount of cash-on-hand is still a good idea since some establishments doesn’t have machines to work on with your card and you really want to buy a certain stuff
Credit cards carries more cash then your own wallet, but this all depends on what your going to buy or purchase for the day. If your just going to get some bread at the shops then cash is better, if your going to spend a large amount on appliances ect then the obvious selection will be credit card. At the end of the day both has it's benefits.
If I had been asked this question four months ago I would definitely have answered "cash" since I always liked the view of money in my wallet and it has always been easy for me to have an overview over my spendings that way. But since the COVID 19 pandemic, I have fully changed my mind first. Since the virus can survive several days on surfaces it most likely is to be found on notes and coins. Since everyone who pays cash gets to touch these notes and coins the risk of getting infected is seriously high.
But then one fact about paying with a credit card crossed my mind that made me worried:
almost everywhere contact-free paying is allegedly possible, but still, you have to enter your pin code almost every second time nevertheless. Where is the sense in that? If you have to type in your pin code you have to touch the number buttons on the touchpad which have been touched by hundreds of other people before.
Considering this, I have come to the conclusion that in this particular matter it does not matter which type of payment you use. Just make sure you wear gloves while paying. ;-)
Personally for me both.Cash is so useful in situation where you bus small things like bus ticket or leaving tips to waiter.Card is so useful when buying big things and making monthly transitions like rent.
Why not both? There is a time and place for cash and credit, as both have their advantages and disadvantages, and neither are accepted for every type of purchase. My personal view is that people who have no problems spending within their means would be better off with credit cards for most purchases, given they offer the best layer of fraud protection, rewards, and benefits you don't get with cash or debit.
Also, credit cards require discipline. If you don’t pay your entire statement balance in full and on time every month, you will be charged interest on your purchases. And if you miss a payment, you can incur late fees. Successfully taking advantage of the many conveniences credit cards offer requires savvy money management.
I prefer credit card over cash as using a credit card can be a more convenient method of payment than using cash. Credit card users are protected from fraudulent transactions by the Fair Credit Billing Act, which limits their fraud liability. Yet in practice, most card issuers waive that requirement by offering a zero dollar fraud liability. Credit card users are even protected when a charge is authorized, but the goods or serviced purchased are not delivered. In that case, cardholders can file a dispute against the merchant, an option that is not available to the cash users. We may earn cash rewards just by making purchases and this option is not available, when we buy things using cash.
Cash is always good if and when you have it, but in these times of pandemic, a lot of Financial experts are suggesting to use the plastic money more because cash, the paper money, can be a dwelling place for viruses and bacteria like the Corona virus. In times like these where people are encouraged to not touch any surfaces that may be infected, paper money and even coins are not safe to touch anymore. Plastic money or credit cards are more likely to be used because of its hassle-free promise, and there are a lot of things people can do using credit cards like online banking, and online shopping, that can be done in the comforts of our own homes. The only downside of using a credit card is the high interest rates that comes along every transaction.
Postloopers! Read this for some extremely important information!
Separate names with a comma.