Credit or cash?

[subwaysandwich]

I enjoy using credit cards to reap the rewards they offer and to increase our credit scores, but I still think cash is king. Thoughts?

[oscar_actuary]

I spend more when using a Credit Card because I'm too lazy to track my spending daily.  I use cash when I'm actualy trying to reduce the amount I spend on dine out, in particular.  One day, I'll reap rewards and have discipline at the same time.

[longtimelurker]

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@subwaysandwich wrote:

I enjoy using credit cards to reap the rewards they offer and to increase our credit scores, but I still think cash is king. Thoughts?

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Not sure it means much without more explanation.   And clearly in some cases it really isn't true.  Try renting a car with cash for example.

[creditnocash]

in my opinion, it works both ways. 

if you just reap the rewards credit is king. 

once you start getting ahead of yourself and racking up balances. cash should be used as its interest free. 

or in my case, use it only for necessities, like gas (normal cash back spending etc) otherwise its cash. 

[TheFate]

Credit is King, not cash.

Even rich people know that

[Turbobuick]

For decades I carried a few hundred dollars on me at all times. Then came the advent of rewards cards and debit cards. I carry almost no cash now unless the wife tosses me a twenty. It's a plastic society now.

[dursty87]

I am always trying to get some type of rewards/cashback so I use my CC's 99% then promptly pay them off before accruing interest.

[r34dy2fly]

I almost never pay with cash and on the few occasions that I do, its only because they don't accept credit cards.

I think if you have the discipline to monitor your spending, it would be stupid to not use credit with the myriad of reward options that are available today. Its "free" money that you're getting back for spending.

Just think of it this way, with the current interest rates being as low as they are, rewards programs that offer 5% is doing more with your money than your savings account that provides .03% interest. I know there are online savings accounts like Barclays and such but they still cap out around .95% a year. 

[lg8302ch]

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@ssondubs wrote:
I am always trying to get some type of rewards/cashback so I use my CC's 99% then promptly pay them off before accruing interest.

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For me clearly credit is king  or maybe I should say plastic is king!  Why?  Because where I live up to 5$ it is all coins (first paper bill is  at 10$) and believe me this is a hassle and really gets heavy in your wallet so I pay with cards whenever it is possible. It used to be with Maestro but why use a debit card if you can use other plastic cards with some rewards. For me credit is like debit and I use my cards that way for years. And simply love it.... the only negative is the signature part if you are used to chip & pin for years but I have hopes that the US will one day also adobt to chip & pin on their cards. Terminals here are ready for 10+ yrs.

[r34dy2fly]

Chip and pin cards are available in the US but you'll be hard pressed to find a vendor that uses it.

I have a chip and pin card for when I go travel towards Europe.