subject: Credit Cards - A Smarter Choice over cash and debit cards [print this page] Credit Cards - A Smarter Choice over cash and debit cards
In today's society, with the added security online and the general atmosphere of unrest throughout the world, cash is becoming less and less safer to carry. One alternative that is quite popular is the debit card, which is a card linked directly to your bank account that you use much like a credit card with the exception that the money is not lent to you but rather withdrawn immediately from your banking account.
However, a much more desirable situation would be to carry a credit card instead.
Carrying cash can easily be lost or stolen from out your bag or pocket. There is no accountability for cash, and once it is gone, it is gone. Its not traceable or recoverable easily.
Yes, using a debit card is a much safer alternative than cash, but if the details to the card were stolen (some instances of mirrors at ATM's recording pin numbers and then theft of the card) then you would still lose money out of your account, that was yours. Reclaiming this is harder than you think and could take a considerable amount of time.
Applying for a Credit card on the other hand to use instead of cash, is the safest form of money. If your credit card is used fraudulently, then they are using borrowed' money. This money you can claim was not spent by you, and you will not have to pay it back. This way you have not lost out on anything, and you should get a replacement card with a new pin delivered to you.
The main benefits of credit cards, really, moreover even than safety, is the freedom they give you not only in terms of purchasing power but also in planning. If you have adequate credit limits, you can spread out major purchases over time so that you can plan your payments to be in line with your actual budget. This can be an amazing tool in terms of being able to take advantage of sales from certain retailers that may only come annually or semi-annually. If you have the credit available, and are careful with your budgeting and spending, this alone can save you tons of cash each year. It just takes planning and careful consideration of the many offers that retailers make from time to time.
All in all, with the place that the world at large is in today, it is almost a requirement to have good credit and to carry credit cards.
