Credit or cash?

[lg8302ch]

---

@r34dy2fly wrote:

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. 

---

There are no US cards that default to chip&pin... all are set to chip&signature with options to pin if signature is not accepted...so that is useless as signature is accepted worldwide.... I have not found a single terminal in Europe where my chip cards would work with pin

[Anonymous]

There are obviously ways that you can use credit and still watch how you spend so you don't go above your means. I do it a couple of ways. If I'm carrying cash, I use my credit card, then I take the cash from my wallet and lump it together with the receipt in the proper amount. Next chance I get to the bank, I depot it so I can make the payment to the CC. If the money is already in my account, I just wait until the charge posts and I pay it immediately. Not that difficult as long as you aren't tempted to keep the cash on hand and let the balance linger.

[jamesdwi]

YES, I like using credit that gives me more cash in my pocket. 

I earn between 1-6% sometimes more. using credit cards to earn me rewards that are cash in my pocket. On top of it I can earn interest on my cash that sits in my bank. I don't have to worry if my bills are going to hit in the proper order and only after my paycheck hits the bank, I can just pay them when they are due knowing that I have enough extra float in my checking account because bills are sitting on my credit card at 0% interest for at least 25 days. 

[takeshi74]

---

@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?

---

Broad generalizations are of limited use IMO given that they tend to oversimplify matters.  Like any other set of options there are pros and cons to each side.  You've pointed out one benefit of credit that isn't available with cash.  Longtime pointed out another situation where cash clearly isn't king.  As many other threads mention, cash doesn't offer the protection or tracking that credit offers.

However, some places only take cash.  Some places offer a cash discount or tack on a surcharge for credit purchases.  Some find that they prefer to help out small businesses by paying in cash so the shop doesn't have to pay the card processing fee.

Just as a hammer isn't the best tool for every job, neither cash nor credit is the best payment method for every situation.  Instead of relying on "cash is king" assess the situation and make a judgement call.

[Closingracer99]

---

@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?

---

Why use cash unless place only takes it? Credit you get Cashback or points. it isn't much but even 1% is better then 0%.  Plus if you get robbed you lose that Cash. If they steal your credit cards you call them up and say they were stolen and dispute any charges 

[mongstradamus]

---

@Closingracer99 wrote:

---

@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?

---

Why use cash unless place only takes it? Credit you get Cashback or points. it isn't much but even 1% is better then 0%.  Plus if you get robbed you lose that Cash. If they steal your credit cards you call them up and say they were stolen and dispute any charges 

---

Getting something back is always better than getting nothing back in my book 

[Middleswarth]

Unless they are from an older generation, when I hear someone say they only use cash my first thought is they only use cash because they have bad credit.  I know, stereotyping is wrong but that's what pops in my head. 

[longtimelurker]

---

@mongstradamus wrote:

---

@Closingracer99 wrote:

---

@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?

---

Why use cash unless place only takes it? Credit you get Cashback or points. it isn't much but even 1% is better then 0%.  Plus if you get robbed you lose that Cash. If they steal your credit cards you call them up and say they were stolen and dispute any charges 

---

Getting something back is always better than getting nothing back in my book 

---

Right, but as takeshi says, some places will give (unofficial) discounts for cash, so that way you may be getting back more.

[trumpet-205]

---

@lg8302ch wrote:

There are no US cards that default to chip&pin... all are set to chip&signature with options to pin if signature is not accepted...so that is useless as signature is accepted worldwide.... I have not found a single terminal in Europe where my chip cards would work with pin

---

UNFCU do issue Visa card that is pure chip-and-PIN. For those cards you can test them at Walmart, the terminal will ask for PIN.

[SunriseEarth]

I really only deal with cash if it's necessary.   Even if rewards aren't an issue, cash is bulky and messy, really.   There are some places where communicable diseases have dropped because card transactions largely replaced cash transactions.