Are Credit Cards More Convenient Than Cash - 1019 Words

Are Credit Cards More Convenient than Cash? Money is seen and used every day in the majority of countries around the world. The debate whether or not cash is better than credit is stronger than ever due to advancements in technology. So which one is better? The benefits of cash are that when used, one can physically see how much they are paying or earning. Credit cards are more convenient in terms catching theft; However both forms of money come in handy and are generally simple to track. Cash and credit are each useful tools individually, but in comparison one option may gravitate higher ever so slightly. The use of credit cards has increased immensely since the mid 1900s, but like any new technological advancement, why would it not? Credit cards are overall more useful and accommodating than cash due to the simplicity of a swipe. The cards allow for their user to have money all the time whether or not money actually exists in the user s account at that moment. Aicpa states that, â €Å"Credit cards can save you time and trouble--no searching for an ATM or keeping cash on-hand† (360 Financial Literacy). This illustrates the idea that with a card there is no need to find an ATM when running low on cash because of the interest option incorporated into one’s credit card. However, the interest must be minded. Furthermore, credit card users always have instant cash. †Cash advances are quick and convenient, putting cash in your hand when you need it† (360 Financial Literacy). ForShow MoreRelated Is Digital Cash Something To Fear? Essay1503 Words   |  7 PagesIs Digital Cash Something To Fear? I. INTRODUCTION In todays society, cash is quickly becoming obsolete. The vast majority of transactions can now be completed without cash. If a person has direct deposit, they can directly deposit their paycheck into their bank account. Using their home computer, that person can pay their monthly bills electronically by using a third-party bill paying system authorized by their bank. Credit cards, once reserved for major purchases, are now accepted at groceryRead MoreA Future For Mobile Payments1694 Words   |  7 PagesBusinesses see a future for mobile payments soon. More and more industries are being presented with the profits of mobile payments and those industries are viewing them as opportunities in the modern day world. The competition is on for who is the biggest and most bad. Now, the millennials are the ones to decide that. â€Å"According to new surveys, 72 percent of business executives believe that smartphone payments on a large scale, are inevitable and 58 percent of businesses have already implementedRead MoreDexit Analysis1125 Words   |  5 Pagestransactions via RFID would create simple convenient transactions that could be tracked easily by consumers. Environment: †¢ â€Å"Big 6† Banks controlled the Canadian industry Current market via issuing Credit and Debit cards and the corresponding retail processing systems. †¢ Canadian shoppers were routine users of electronic payment methods †¢ Customers were satisfied with the credit and debit payment methods and viewed them as convenient to use. †¢ By 2003, Canadian cash purchases projected grow to $270Read MoreCash And Credit Cards : Cash Or Credit Card965 Words   |  4 PagesIn today’s economy, cash or a credit card is needed to meet the basic human needs. It is an apparent fact that we need cash or credit cards to purchase items such as food, clothing, and to buy gas. Also, when you are out shopping and discover that you have used all the cash in your possession, it is then that you realize that the advantage of having a credit card. Furthermore, with cash, you are restricted to the amount in your wallet or purse; however, a credit card allows you to pay for yourRead MoreCredit Card Vs. Credit Cards886 Words   |  4 PagesIn today’s economy cash or a credit card is needed to meet the basic human need. It is a clear fact that we need cash or credit to purchase items such as food, clothing, to pay bills, as well as buy gas for our daily travels. However, when you are out shopping and discover tha t you have used all the cash in your possession, which is when we realize that the benefit of having a credit card is very beneficial. Although cash and credit cards are similar in that, they both are used to pay for goodsRead MoreThe Rate At Walmart s Checkout Points Use Payment Cards At Stores881 Words   |  4 PagesUse of payment cards at stores. For my ethnography project, I chose to study and compare the rate at which shoppers at Walmart’s checkout points use payment cards to cash. For the purpose of this paper, I will refer to the people as shoppers, and medium of exchange to represent payment cards and cash. The main focus of this ethnography is to compare two media of exchange at checkout points. (Wicksell [1906] 1967, p. 17) defined a means of payment, as â€Å"an object used to pay for purchases and settleRead MoreElectronic Forms Of Payment Cards1742 Words   |  7 PagesPAYMENT CARDS INTRODUCTION Payments system all over the world has experienced a period of dramatic change. Consumers, businesses, and government are moving away from paper checks and towards electronic forms of payment. Technological advances and competitive forces are fundamentally altering the payments landscape, with important implications for efficiency, safety, and access. A payment card is a device (embossed plastics) that enables its owner (the cardholder) to make a payment by electronicRead MoreOnline Banking And Its Impact On The United States1001 Words   |  5 Pagespeople more convenient. With the new innovations and creations to computers, online banking has grown to become the most used form of banking in the US (5). From the first ATM to mobile banking technology has helped shape One of the first computerized innovations to online banking, the credit card, revolutionized how cash was money was used in society. 1950 – 1960’s: During the 1950 a man named Frank X. McNamara, was sitting at dinner when he realized he had left the house without cash. After havingRead MoreCash Versus Credit Cards Essay examples1143 Words   |  5 PagesCash versus Credit Cards Americans should handle their credit cards responsibly and should not become a part of that number of abusers. The Scott III (1999) website â€Å"The average Americans household has eight credit cards, which are used to charge almost $2 trillion in goods and services annually.† No one wants to be a part of the group of individuals who he or she can put his or herself at risk for acquiring a negative credit score, possible job rejections, rejections when trying to rent or leaseRead MoreEssay about Credit Cards: A Blessing and A Curse1664 Words   |  7 Pagesat the cash register, ready to pay, he or she will likely pull out of their wallet one of the following: Visa, MasterCard, American Express, or a Discover Card. What do all of theses names have in common? They are all credit cards, the easy, fast way to pay for purchases when you don’t have cash, the store doesn’t accept checks, you would rather pay at a later date, or a variety of other reasons. Although th ere are many positive reasons to have a credit card, carrying this small plastic card can also