Comments on: Credit Card Advantages Over Cash

By: Wes Smith

Wes Smith — Tue, 05 Apr 2011 13:05:04 +0000

I don’t know how old this article is (I followed a link from another article). I do know that credit cards are more costly for the business receiving the payment. If everyone used cash, the merchants could lower prices. The more cash we use, the lower prices will be. I do sometimes use credit cards (especially for travel and internet purchases) but anytime I am purchasing from a local small business, I use cash or check. My plumber is a hard working guy who shows up any hour of the day he is needed, why should he have to give up a percentage of his fee to Mastercard or Visa? I pay him with a check so all the money goes to him.

By: Craig

Craig — Mon, 08 Nov 2010 19:50:03 +0000

@Ace
Agreed. If you are responsible then credit cards are a helpful tool. Unfortunately, there are a lot of people who think they are responsible (I only have $5,000 in credit card debt).
I’m also a credit card user.

By: Ace

Ace — Mon, 08 Nov 2010 17:42:28 +0000

Credit cards are great! if you pay them off each month and are financially responsible. You get the rewards that are offered.

Debit cards are great too!! I feel they are perfect for those that who do not care about rewards and lack the will power to pay off the balance.

Both cards have a credit limit. Credit cards have a set limit and debit cards have a limit to what is in your account. So you might have to wait till payday to buy something you could afford.

For me…. I love my credit card!!! I use it to get what I need and have a budget so I know what I can afford. The company takes my payment in full out of my bank account automatically each month. So it is like a debit card in the end but with rewards.

By: Kerri

Kerri — Wed, 02 Sep 2009 14:38:07 +0000

The main reason my husband and I use credit cards is convenience. The second and third are convenience and convenience. We also are able to track mostly every dollar we spend through categorization. We pay the credit card in full every month (no balances), so essentially it buffers the purchase with the payment, and you can keep that money for 30 days and have it grow interest. Our rewards points just paid for over $600 in airline fees for a recent trip: this was from payments to the grocery store, gas, hotel stays, restaurant bills, etc. that built up over time.
The card does not entice me to spend frivolously. I am well aware it is tied to “real money,” it’s just more on my terms. I appreciating seeing a detailed list of all of our expenses each month–seamlessly. Cash disappears; credit provides an instantaneous digital record for any purpose.
Thanks for this post!

By: Carnival of Personal Finance - History of College Football Edition — StretchyDollar

Mon, 31 Aug 2009 15:18:21 +0000

[...] Ford from Money Help For Christians presents The Advantages of Credit Cards over Cash, and says, “Cash is cheaper, but does the convenience of credit cards make them [...]

By: Week in Review: Little League Champions Edition » Buck$omeboomer's Financial Path to Retirement

Mon, 31 Aug 2009 10:15:22 +0000

[...] The Advantages of Credit Cards over Cash. Craig Ford @ Money Help for Christians takes on the concept that credit cards themselves are bad. [...]

By: One Money Design Weekly Round Up: Get Back in Shape Edition | One Money Design

Fri, 28 Aug 2009 12:16:34 +0000

[...] The Advantages of Credit Cards over Cash posted by Money Help for Christians is an interesting discussion on whether or not credit cards should be used over cash. [...]

By: Craig

Craig — Fri, 28 Aug 2009 11:54:49 +0000

@Bucksome. Thanks for you comment. The business expenses are very important in my case. While I don’t charge a lot of things, when I do the amounts are large so the credit card is helpful. Great idea with the change jar!

By: Bucksome

Bucksome — Fri, 28 Aug 2009 00:17:12 +0000

I agree with you regarding a credit card’s usefulness when having to front business expenses that are remibursement, but think a couple of the reasons to use credit cards are iffy.

I use envelopes and at the end of the day, put any change I got back in a jar. When that jar’s full (and it’s a big jar), I take it to a coinstar machine and the result becomes a snowflake towards my debt snowball and once that’s gone it goes towards whatever savings goal I’m working on.
.-= Bucksome´s last blog ..Dave Ramsey Sale =-.

By: jarthurford

jarthurford — Wed, 26 Aug 2009 14:12:51 +0000

I do one other thing with credit cards that I know some will disagree with, but we set up a pre-authorized plan in which our credit card company takes the balance owing from our bank account on the day it’s due. No late payment fees, and a good way to restrain yourself from over spending what you have in your account.