While it may be more expensive to maintain a credit cards keeping a lot of cash in your pocket is less safe and can lead to misplacement of money. For instance, when making a big purchase, people do not want to be carrying around hundreds of dollars. Throughout the day one might lose some of their money or might spend it on something that they were not intending on buying because it is just readily available. Spending a little extra on a bank to maintain your money will pay out in the long run. When credit card company’s “charge high interest rates if you don’t pay your bill in full by the due date” it can make credit cards a more expensive way to handle your money (Cash Vs. Credit Cards). For big banks, “Some credit cards also carry annual fees just to use them, along with foreign transaction fees, balance transfer fees, and late fees” (Cash Vs. Credit Cards). When people are dealing with large amounts of money paying these fees are nothi...
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...h will be easier and faster. Using cash in these types of situations is more practical and will help not having to pay extra for missing a deadline on a small payment if used a credit card.
Both cash and credit cards have their benefits and downfalls. Credit cards are helpful to have on you when you make large purchases and when you do not want to carry large amounts of money around. On the other hand, cash can be easy to use when making small payments on the spot. Credit cards can be safer because people can let the bank handle their money and if something goes wrong it is the fault of the banks to get your money make or reimburse any money that was lost or stolen. You may see people of the older generation use more cash transaction because they can handle their own money but in today’s advancing society more people are changing to credit cards and online payments.
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