Comments on: Cash or Credit?

By: TheMaineMan

TheMaineMan — Mon, 25 Jul 2011 21:59:54 +0000

I don’t like to carry cash, so I usually use a credit card. However, I always make sure to stay under the credit limit, and I always pay the bill in full by the “grace period” so that I never pay a cent in interest. I also get occasional rewards from my card. When you lose cash, it’s gone forever in most cases, but if you lose a credit card you can call up the company, report it lost/stolen as well as any fraudulent charges. Using credit cards certainly requires responsibility, and I think that many young people are too impatient/undisciplined to use their cards responsibly. Many older people as well. For those who need the extra discipline, I certainly agree that cash is the way to go. In some cases though, you can profit off a credit card rather than pay extra. ALWAYS check the terms though, and always keep an eye on any notices of change. All it takes is one missed payment for them to wipe away your grace period and hike up your interest rate.

By: JLorae

JLorae — Sat, 23 Jul 2011 04:09:31 +0000

I prefer cash.

By: Haley Wolfe

Haley Wolfe — Fri, 22 Jul 2011 23:22:59 +0000

I make a point not to have any credit cards–at all. I figure if I don’t have the money to buy something right now, I’m probably not going to have the money when the credit card bill comes, either. That said, I do use a debit card and rarely carry cash. I treat the card like cash, and I keep track of my balance so I don’t overdraft. I find that if I splurge on something with my debit card, I feel guilty later when I see it deducted from my account online; when I carry cash, I’m more tempted to spend it. Funny how minds work differently!

By: ian mccloud

ian mccloud — Fri, 22 Jul 2011 16:48:16 +0000

Credit cards have a real positive value in convenience at gas stations in that you don’t have to go inside to pay, also with some retail stores you receive free shipping and reduced prices with their credit card. In addition a very brief phone call will inform you of your credit card balance. There is absolutely no excuse paying those high overdue payments if you are accustomed to tdhe simplest personal respsonsibility!