Advantages and Disadvantages of Using Credit Cards and Debit Cards
Today, almost everyone has their credit cards or debit cards. It can be used in the malls, shopping online, buying tickets, and much more. Most of the time, people use it because it is more convenient because you do not have to bring cash which could be easily stolen and used; unlike cards where there would still be a number of security features.
There are two types of cards that are commonly used for cashless transactions. First is the credit card which is a plastic token, with a magnetic stripe that contains the machine readable code. Credit cards are known as the most common substitute for cash payment. It is also commonly used for internet transactions. Credit card holders have their credit limit, whic has been approved by the card-issuer such as banks, stores and etc. Cardholders usually pay their balances on their credit cards after 30 days of purchase to avoid the interest and penalties that the bank gives (BusinessDictionary, n.d.). The second most commonly used card is the debit card also known as the asset card in the US which is a bank card that is also used for transactions but not as like as credit card. In using debit card, you can only use the amount balance that your savings account contains. Although with credit cards you can exceed your savings balance but not your credit limit. If the available funds are insufficient, the transaction is not completed (BusinessDictionary, n.d.).
In De La Salle credit cards and debit cards are the other modes of payment in paying tuition fees. Although DLSU limits the number of cards you can use such as Citibank (Paylite), BPI (Special Installment Plan) and BDO (EasyPay) for credit cards. Whereas for de...
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Credit cards are something that are almost needed in everyday life now, as most dont have the money available to purchase a car or house and so need credit, thus needing credit cards to help build that credit. Those cards are hard to handle, and receiving applications in the mail daily, and commercials appearing on television don’t seem to make the struggle of staying away any easier. This starts to spark an interest. So people begin to think, "I think I 'm responsible enough to get a credit card, I 'll only use it for emergencies." Then the application process begins and it may take a couple times to finally be approved for one. This only makes it worse, of course, because realizing how long a credit card wasn’t applicable to life, but now
credit or debit cards accessible in one easy location and it’s even got the extra security of the
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On the other hand, there is the element of widespread profit from the market of the electronic currency. The ones who [participate...
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It is true that with a credit card, an irresponsible student may get themselves into debt, but those types of people should be more educated on credit cards and the trouble they can get themselves into when considering getting one. To those that can handle the responsibility, a credit card can be a very useful item to college students due to the mass amount of purchasing the college student has to do, the most expensive item being books. However, if a credit card is off the list, a debit card is the safer route. Debit cards prevent overspending and do not access money that one does not have. If a college student has a job, it is very important to have a debit card so they can cash their paychecks and not have to pay with everything in cash, especially if there needs to be some purchasing online. Having both the credit card and the debit cards are very helpful to a college student, but having just the debit card is fine
The ability to conduct warfare through technological methods has increased information security awareness and the need to protect an entities infrastructure. Subsequently, cyber warfare produces increased risk to security practitioners that employ technology and other methods to mitigate risks to information and the various systems that hold or transmit data. A significant risk to information lies in the conduct of electronic commerce, hereinafter called e-commerce. E-commerce is the purchasing or selling of goods and/or services through the internet or other electronic means (Liu, Chen, Huang, & Yang, 2013). In this article, the researcher will discuss cyber warfare risks, present an evaluation on established security measures, identify potential victims of identity theft, and present an examina...
When it comes to convenience credit outweighs cash. It’s always easier just to pull out a card and swipe rather than pull out cash and should give exact change. Swiping a credit card is also less time consuming which can be convenient when running low on time. Credit also lets you keep track of your transactions, that way you know where your money is going. I know personally that keeping track of my
I pay my balance in full at the end of every month and benefit from the different cash back rewards programs offered by the banks. My paycheck and even financial aid money is deposited to my bank account electronically. Using the mobile apps to look and manage your money on the go makes it really convenient. Although most of my transactions are done online I still do keep some money at home and in my wallet. There are always places that I go to that do not take credits cards.
To increase the use of digital wallet, it is required to educate consumers about the benefits of a digital wallet in simplifying and streamlining their purchasing experience.
Digital money is undeniably convenient; anyone who has used a credit or debit card understands this. However, the era of digital money is only beginning; rapid technological advances will continue to make paper money a remnant of the past. Several innovations are already lessening the burden in your wallet. For instance, the seemingly innocuous mobile phone is actually playing an increasing role in facilitating monetary transactions, especially in Asia. Already, in Japan, large companies such as Coca-Cola have sanctioned vending machines that are not only compatible with common cell phones but also allow consumers to earn credits for using them (Kupetz). In this regard, the United States is strikingly behind the times when compared to other countries. Another new technology in the vein of mobile phones is no-contact cards. These innovative cards do not require a cashier to conduct a transaction; one simply holds a specia...
The use of credit and debit cards today are taking a tour in the sense that electronic cash is becoming more admissible as the world makes a switch towar...