Credit or cash?

[longtimelurker]

And http://www.huffingtonpost.com/2012/10/18/bank-card-fecal-bacteria-contaminated-germs_n_1971609.html

[SunriseEarth]

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@longtimelurker wrote:

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@SunriseEarth wrote:

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@longtimelurker wrote:

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@trumpet-205 wrote:

Maybe this'll convice people to stop using cash,

http://abcnews.go.com/Health/story?id=117433

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Right, but credit cards could have similar issues.   Even if you do all the swiping yourself, it's going into a slot where people with unspeakable habits have put their credit cards, and stuff can easily get transferred.

Plus bacteria are all around, and having them on paper money isn't necessarily an increased threat.

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Plastic isn't as good of an environment for pathogens as paper money is.  

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So here is the other side:

http://www.creditcards.com/credit-card-news/could-your-credit-card-kill-you-1276.php

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Yuck!   Well, at least you could Lysol your CCs (probably won't work as well on your dollars).

[yfan]

In most circumstances, credit is better. So long as you are able to pay in full and don't carry a balance, you are losing nothing by using a credit card, and possibly gaining cash back. Of course, you should be using cash - or a debit card - if you are unable to PIF. Basically, the rule of thumb is don't put anything on a credit card that you can't pay off at the end of the month.

[Closingracer99]

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@yfan wrote:

In most circumstances, credit is better. So long as you are able to pay in full and don't carry a balance, you are losing nothing by using a credit card, and possibly gaining cash back. Of course, you should be using cash - or a debit card - if you are unable to PIF. Basically, the rule of thumb is don't put anything on a credit card that you can't pay off at the end of the month.

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Eh I would go as far as to say I would make sure you at worse can pay in full by 2 months.  For example Lets say you get about $500 dollars to use on what ever you want or save after expenses every 2 weeks. Lets say you want to buy a 70 inch TV and those are around $1,500 for Samsung which you really want? I wouldn't say putting $500 every 2 weeks for 2 months is a bad thing but wouldn't make a habit out of it.  Going past 2 months to PIF is where it gets murky imo

[Callandra]

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@yfan wrote:

In most circumstances, credit is better. So long as you are able to pay in full and don't carry a balance, you are losing nothing by using a credit card, and possibly gaining cash back. Of course, you should be using cash - or a debit card - if you are unable to PIF. Basically, the rule of thumb is don't put anything on a credit card that you can't pay off at the end of the month.

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But if you can't PIF, how can you use cash/debit card?  (or I guess that's your point!) I was always taught to use credit cards like debit cards; always have, and always will. 

And all these articles about germs on money/cards are bringing out my germophobe side...

[r34dy2fly]

My USAA defaults as chip and pin. Always have. 

[Anonymous]

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@TheFate wrote:

Credit is King, not cash.

Even rich people know that

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 No.

 Cash is king. Often folks refer that when you're talking about business and lending because without cash flow you're screwed. You want to get credit so that you keep cash in your coffer so cash is still king. You don't get credit without cash (assets and/or proof of influx of flowing cash eg income) so cash is still king.

 The truly rich knows that and that's why they prefer to get credit and put it on credit even when they have the cash to pay for it. Why they'd prefer to have others finance their stuff than doing it themselves because they want to keep the cash, because

cash is king

[Anonymous]

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@Callandra wrote:

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@yfan wrote:

In most circumstances, credit is better. So long as you are able to pay in full and don't carry a balance, you are losing nothing by using a credit card, and possibly gaining cash back. Of course, you should be using cash - or a debit card - if you are unable to PIF. Basically, the rule of thumb is don't put anything on a credit card that you can't pay off at the end of the month.

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But if you can't PIF, how can you use cash/debit card?  (or I guess that's your point!) I was always taught to use credit cards like debit cards; always have, and always will. 

And all these articles about germs on money/cards are bringing out my germophobe side...

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Because your debit card only can be used (ideally, let's not go down the overdraft hole) when there's cash in it. Some folks have a hard time keeping their spending to what they're able to pay, and the fact that they have CL (monthly revolving at that) where it can be 10x what they bring in a month (and that's ONE card) is scary.

I really think that folks should be taught credit in middle and high school more extensively but that's just imho

[UncleB]

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[Anonymous]

I noticed several people saying that have more trouble tracking money in cash. I guess I'm just over meticulous with my accounts, as I'm the opposite. If I let some cash go, I often can't remember exactly where and how much it was. If I use a card, that datapoint is in stuck in my records, and I'll be reminded of a useless spend, etc. multiple times as I review. I have data in Mint going back to when I got my first debit card too.