Cash Vs. Credit Vs. Debit---Which Should You Use?

.no-js-36851 { display: none !important; }

When you use credit cards responsibly, they can give you a lot of power. The best circumstances to use a credit card is:

When you're traveling, you'll get better rates for foreign exchange fees when you're traveling abroad. Travel rewards cards will also offer travel insurance.
When you need security, credit cards have no liability for fraudulent charges and you can cancel or freeze your card instantly.
When you want rewards. Most credit cards now will give you rewards for using them.
When you’re making charges for work because you don't have to front the money. You can get reimbursed before the bill is due.

110 SAVES

319 READS

VIEW

When you have an emergency: Cash is accepted everywhere, so have some on hand. Dave Ramsey recommends having at least $1,000 in an emergency fund.
When you want to limit your spending: Psychologically, we spend less money when we use cash as you can see the money leaving your hand.
When you want to make healthier purchases: Customers who pay with cash are less likely to make impulsive purchases.
When you want to have a better relationship with the things you buy: When you pay with cash, you may feel a deeper sense of connection and pride in the item you purchased.
When you want to make a small purchase at a small store: Every dollar you spend at a small store, they're losing two cents automatically - a cost that could eat up into their already small profits.

122 SAVES

272 READS

VIEW

When you want to avoid getting into (more) debt: Since your debit card is connected to a checking account, you theoretically only spend what is available in your account.
You want to pay for everyday purchases conveniently—things like gas, groceries, and coffee.
When you want to limit your spending, but don’t want to carry cash.
When you want the best of both worlds between cash and credit.

109 SAVES

279 READS

VIEW