Cash, Credit Card Or Debit Card Which Is Good Mode Of Payement
@neerajpandey_13 (1765)
India
April 17, 2009 11:51pm CST
In old times generally whenever we go for shopping we go with cash or via checkbook. But now system is completely changed. Generally nobody wants to carry cash with them . Because it is risky in itself to carry cash with ourselves.
Now our choice lies between diferent debit card and credit card provided by banks. Since credit card provides several type of good scheme to its user due to this it is favoured way of payement.
Apart from that now debit card is also very popular because of availability os swap machine in all shops.
But there are some risk associated with these card. Risk is cheating or fraud involve with these cards. We should need to be careful when we are using these cards.
So share here your opinion about using these cards. There advantages, or risk associated with these cards. Also share which type of card you use.
4 people like this
12 responses
@ahslack (484)
• Singapore
18 Apr 09
I feel that cash and debit card is a better mode of payment compared to credit card.Because cash limits the amount of money that we can spend,and debit card is the same because it uses the money inside your bank which you have in your account so that you won't go beyond that amount.But for credit card,sometimes you just will not notice how much you spend and will tend to over use it until you receive the bill at the end of the month knowing that you have no money to pay the credit card bills.
1 person likes this
@neerajpandey_13 (1765)
• India
18 Apr 09
You can also fix your spending limit in credit card. Apart from that credit card also giving you some free gifts for using credit cards.
1 person likes this
@red_amethyst (3518)
• Philippines
18 Apr 09
hi!
I think the best way to pay is still Cash. at least you can still control your money, and you will not over spend. Unlike with credit card, wherein you can purchase and pay it on due date, some times people get to overspend, because they still have credit card and when due date comes, they can't pay it all.
Debit card is good also, as long as it has load, and automatically, the payment is deducted on your account, so still you can control it, because you don't want to pay and only to find out that your debit card have zero balance already 
1 person likes this
@neerajpandey_13 (1765)
• India
18 Apr 09
Main thing is that carrying cash involves risk. Due to that people prefer these cards. Now paying by cash is very old type of system.
1 person likes this
@bayernfan (1430)
• Canada
19 Apr 09
I never use a debit card for purchases. There is no protection for your account when this mode of payment is used. If fraud takes place, you are responsible for the amount stolen and you have no recourse or way to recoup losses other than to find the criminal. The money will be long gone even if you do manage to find the culprit. There are common debit card scams where fraudsters place card readers in ATM machines and setup a discreet camera angled at the keypad to capture passwords by watching you punch in your code. Some gas station cashiers have scammed people by double swiping debit cards and aiming the camera at the customer to watch them enter their pin number. You only find out later when your account is empty. Credit Cards provide protection, just pay the balance off at the end of the month. Good luck out there.
@timhinyy (1653)
• United States
19 Apr 09
i would definitely say the debit card is the easiest and most convienent for me. i have online banking and it is easier for me to keep track of purchases in this manner. i never have much money on me anyway and don't make a great deal of purchases, but when i do i would use that card i have learned the hard way about the credit cards and all the interest and so forth so i only use what i have with my checking which is linked to the debit so much easier to keep track and has been for me.
@neerajpandey_13 (1765)
• India
19 Apr 09
Just try credit card as well. May be after that you are fan of credit card. Credit card always have some attractive schemes so that more and more customer use credit card.
@prinzcy (32322)
• Malaysia
18 Apr 09
I prefer to use cash. If I am short on cash, then I'll use my Debit Card. If I am out of money in my DC, then I don't buy at all. I won't use Credit Card! Once I can start spending and hold the payment later, it'll become a habit to me (not good~~~ no more debt~~~)
@neerajpandey_13 (1765)
• India
18 Apr 09
I think you also take care of your budget. It is very good thing that you are keeping eye on your pocket. Maintain this habit in future as well.
@katrhina23 (1282)
• United States
19 Apr 09
its always ok to use cash but in all those three, there are really advantages and disadvantages as well.
@anniefannie (1737)
• United States
18 Apr 09
There are risks with every thing that you do.My Bank has just changed my card because some one is smart enough to get into our accounts.
@photobug (157)
• United States
18 Apr 09
I prefer cash. You spend what you have and aren't tempted to charge items that are impulse buys. If you want something badly enough, save for it. And also determine if you need something or merely want it.
When you use credit, it's not always easy to pay the complete charge and you end up paying interest. If you're not careful to pay the bill on time, you could also pay large late fees. Besides, I feel sorry for the small merchant. He has to pay a fee to the credit card company for every transaction, and then a percentage of the cost. So if someone charges something for a few dollars, he's probably not making anything or even losing money (after all, he had to pay for the product in the first place). We need to live within our means for our everyday expenses. We may have to borrow for a car, house, or education.
@soulsearchin (81)
• Canada
19 Apr 09
I used to prefer cash myself but lately since most of my cheques are now direct deposit it is much easier and IMO safer to shop with my debit card from my bank.
With ATM machines pretty much everywhere and some stores will even give you $20.00 or so cash back when paying for a purchase its easy to get your hands on cash if you need it as well. If you lose your wallet and its full of cash its gone forsure but if you lose your wallet and your debit card, a quick call to the bank to cancel the card and your safe. Your PIN is your insurance policy even if someone finds or steals your debit card they need your pin to get any cash or to even use it at point of sale.
With a credit card it can be used without the PIN if lost it just cant be used at a ATM for cash.
