Credit card or cash! what should I use more?

1. 64

   blueorpurpleposted 12 years ago

   Credit card or cash! what should I use more?

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2. 59

   JanieWritesposted 12 years ago

   Cash. Always. If at all possible, don't ever use credit cards. If you don't like to carry cash, then use the DEBIT card from your checking account, but don't go into debt with credit cards. It is entirely possible to function without credit cards at all. Credit cards ending up costing you more than the item did in the first place because you pay interest on the balance you carry. If you are one of the few who pay their credit cards in full every month, that is good, but studies have shown that people will spend up to 10% MORE when they use credit cards instead of cash.

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3. 81

   mskillsposted 12 years ago

   Neither, use the PerkStreet debit card.
   
   Seriously, though, ask yourself this: Do you currently carry any credit card debt?  If you do, the answer is cash. 
   
   Otherwise, you can do what I do and use a rewards credit card.  The requirement is that you must pay it in full each month (most banks even allow you to automatically pay it off on each due date.)
   
   The cash back is why I prefer credit cards, though some people will appreciate the boost to their credit score by responsibly managing credit.

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4. 60

   duffsmomposted 12 years ago

   If you use a credit card, never use it for more than you can pay off in one payment.  If at any time you receive a bill and cannot pay the balance off in one payment--destroy the card immediately.
   
   Credit cards are like playing at gambling and can be addictive.  Use cash if at all possible and if not, then rethink the purchase.
   
   We had large credit card balances and I went to work and paid off every card and have not used them since.  Debt free feels much better than owning a lot of junk one never uses.

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5. 57

   tel0004posted 12 years ago

   There is no right or wrong, it depends on your personality type.  If you can use credit cards responsibility and pay in full every month, then credit cards can be better.
   
   If you will use a credit card to make impulse purchases, than maybe cash it better for you.

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