Cash And Credit Card Fraud Essay

Cash And Credit Card Fraud Essay

Length: 820 words (2.3 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

The world people live in revolves around money. The money will satisfy the feeling of importance. Money gives people power. It arouses in everyone an eager want. In fact, a great portion of everyone’s lives is spent working to earn more money. From changing jobs to changing careers, people do what is needed to earn more money. Once the paycheck comes in, some people prefer to make their purchases in cash, while others prefer to use credit cards. Both cash and credit cards are widely accepted, but the best choice is cash because of the person’s lifestyle.
Cash and credit cards, often show relationships between insecurity. Carrying large amounts of cash increases the chances of it becoming stolen. Similarly, credit cards are also stolen because thieves will steal the numbers of the credit cards without the person knowing.
Thieves do not need the actual credit card to access all the money available in the card and the person’s identity. Some credit cards offer protection against fraudulent charges. This protects the owner from credit card fraud and identity theft. That being the case, cash is better than credit cards even though, once cash is stolen it is gone forever.

Ochoa 2
Paying with cash lowers the chances of making impulsive purchases. In addition, this helps avoid overspending. Only spending what is inside the wallet helps with deciding between what is needed over what is wanted. A college student, for instance, goes to the bookstore to purchase a scientific calculator. He only has a 20-dollar bill, as he approaches the cashier at the register, he notices a burgundy beanie that’s on sale and he likes it. The only problem is that he does not have any of his credit cards on him, he cannot make the purchase becau...

... middle of paper ...’s associated with interest rates. This will make it impossible to pay the bill.
However, if someone does not have a stable job, making the payments on the credit cards will be a difficult challenge that will lead to bad credit. In addition, if a person gets laid off from their job and cannot pay back the credit cards, as a result, the interest rate will go up. Credit cards should be used responsibly. Yet, some people still prefer credit cards over cash because one day they want to live in a decent house, or drive a luxurious car. Credit cards are good to have, only if the person has a permanent job; otherwise, cash is best.
When considering making purchases with cash or credit cards, the person must consider their necessities, lifestyle, and special circumstances. A person that does not consider these important aspects will often not care for their finances.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Credit Card Fraud ( Nasdaq ) Essay

- Credit Cards, an item that everyone wants and even needs. Just one swipe and it make payments so much easier then using cash. Through the years, there have been horror stories about fraud happing when someone using their credit cards. Through out the years EMVCo, has been limited the chances of fraud happing with credit cards. Most credit card fraud occurs in the United States. The research that is done by Barclays stated that the U.S. is responsible about 47 percent of the world 's card fraud (   [tags: Credit card, Smart card, Credit card fraud]

Better Essays
718 words (2.1 pages)

Credit Card Fraud And Identity Theft Essay example

- Losses Due to Credit Card Fraud According to Brody (2014), no one is safe from credit card fraud and identity theft. The research suggests credit card fraud totaled $5.55 billion worldwide in 2012. Most Americans own a credit card and are concerned about identity theft. More than half of credit card owners are college students and about a quarter are senior citizens who own at least four credit cards. Brody (2014) states the United States Department of Justice reported in 2013 over 64% of identity theft was associated with credit card fraud....   [tags: Credit card, Credit card fraud, Debit card]

Better Essays
1504 words (4.3 pages)

Credit Card And Credit Cards Essay

- Today credit cards have become increasingly popular and more frequently used than cash when it comes to making purchases. In 2012 it was found that 27% of all point of sale purchases were paid with cash and by 2017 that percentage was expected to drop to 23%. While credit cards are clearly being used more many people are paying the consequences. But where and when did the credit card even come about. John Biggins is the man given credit for creating the idea of credit cards in 1946. He started off with the “Charge-it” program where people could deposit sales slips in the bank and then the bank would then bill the customer who would use the card....   [tags: Credit card, Credit, Credit score, Credit history]

Better Essays
1437 words (4.1 pages)

Benefits Of Having A Credit Card Essay

- After graduating high school most young adults will either choose to go to college, immediately start working, or decide to join the military. Credit card companies often see this as an opportunity to seek out to these people and offer them great deals on credit cards hoping that they will accept their offers. Before these people make the decision on whether or not they should get a credit card they must first know the disadvantages and advantages of having one. It is very important that they know both sides so they make the right choice....   [tags: Credit card, Credit history, Credit score]

Better Essays
1791 words (5.1 pages)

Fraud And Identity Theft Essay

- Practical Ways to Avoid Credit Card Fraud and Identity Theft Fraud affects consumers both online and off. It has been estimated that Canadians lost over $290 million on fraud from 2014 to 2016. Being aware of the different scams and methods of fraud will help you be one step ahead of these criminals. In this article we will look into: • How fraudsters get your information • How to protect yourself from fraud and identity theft • How to protect your information online • What to do if you are a victim of fraud How Fraudsters Get Your Information Fraudsters get your information through theft, online, and hi-tech methods....   [tags: Credit card, Credit card fraud, Fraud]

Better Essays
1068 words (3.1 pages)

Technology, Privacy and Credit Card Fraud Essay

- Technology, Privacy and Credit Card Fraud The advancement of technology over the years appeared to be the greatest thing known to mankind.  With the Internet, the world is at one's finger tips and just about anything can be accessed using it.  This is not necessarily a good thing, with crimes like creidt card fraud going around.  The number of credit card fraud incidents is rapidly increasing as the years progress.  Anybody with a credit card could possibly be a victim of this crime and it should be taking seriously.  One’s life could be ruined if their information gets into the wrong hands.  Around the holidays, most consider shopping via Internet the most safe and convent way to go.  Y...   [tags: Exploratory Essays Research Papers]

Better Essays
722 words (2.1 pages)

Target Credit Card Fraud Essay

- Software has been a favorite target internet thieves because the same reason that makes it so easy to sell online or instant electronic delivery also makes it easy to steal. Target is believed to have exposed personal data from as many as 110 million customers. About 40 million of them were shoppers during the holiday season from November 17 through December 18 2013. One in four people in the United States were exposed to fraud and potential loss of privacy. Early in the month of January the FBI warned retailers that there were more attacks to come after they discover 20 attacks in the past year which were caused by the same malware that ruined target’s system....   [tags: software, internet thieves]

Better Essays
1440 words (4.1 pages)

Essay on Why People With Credit Cards

- Why People Prefer To Use Credit Cards You have a choice of paying by cash, debit card, online account or credit card. If you do not have money in your bank or online accounts, then either you go without, or you use your credit card. But, what about the people who have money in their bank account and still use their credit card. Are they tempting fate by inviting the potential for problems. After all, one unexpected expense, and the credit card user won’t clear his/her balance…and before you know it…credit card debt....   [tags: Credit card, Debit card, Credit history]

Better Essays
1280 words (3.7 pages)

Credit And Debit Cards : Credit Or Debit, Sir? Essay

- Credit or Debit, Sir. The usage of credit and debit cards have dramatically increased in the recent years. There was a projected total of 160 million credit card holders in 2012 and 654 million debit cards in 2015 (WalletHub/Nasdaq). Both credit and debit cards are methods of payment that do not require you to have cash on hand. Even though both a credit and debit card accomplish the same thing, there are many differences between the two methods of payment that could sway a customer’s choice towards one over the other....   [tags: Credit card, Money, Payment, Credit history]

Better Essays
1284 words (3.7 pages)

Getting Your Credit Score, Best Free Credit Report Essay

- how to get your credit score, best free credit report If you are trying to build your credit, you need to access your credit score regularly and get a credit report from time to time – best if free of course. This way, you can see exactly what is going on with your credit situation so you can address issues that need to be taken care of and you can watch how your efforts affect your score. In many cases, consumers don’t always really know what’s on their credit report until they see it. It’s easy enough to forget about old bills, but there are also cases of credit fraud that involve other people using your name and credit to purchase goods and even get cash in hand....   [tags: Credit score, Credit, Fair Credit Reporting Act]

Better Essays
2061 words (5.9 pages)