CASH or CREDIT

CASH or CREDIT as a daily use of financial transactions.


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ALDABRAMAN

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Cash or Credit as a daily way to purchase and do business. How many of us use mostly cash to pay for most of our daily transactions or use some form of credit to pay for most of our daily transactions.

Lets consider debit as cash and not consider large loans, such as vehicles, residents, etc. for this poll.

I have always used cash for everything that I do not need a documented transaction for. I only use my credit card for major, meaning large dollar value, and anything I want to capture as documented transaction.

Greg//ALDABRAMAN
 

dbsneed69

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Cash is the only way to go. I keep a credit card for emergency situations but I haven't put anything on a credit card in years. I was a statistic in my early twenties. I had thousands upon thousands of dollars in credit card debt. When I got divorced from my ex, my credit was shot. I decided that when I finally paid everything off I would never be in that situation again. Just my little thought on that.

Dennis
 

Kristina

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Cash - I do not have a credit card, nor will I ever. We do have a "CareCredit" card for vet emergencies, etc. but that is the extent of it. I have no loans (except for student loans from Vet Tech schooling) and I intend to keep it that way. I paid cash for both my vehicles, for my house, and everything in it.

I don't have a check book either because it is too simple for someone to get your account numbers right off the face of the check. If I need documentation or cannot pay cash, I buy USPS money orders.
 

dmmj

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Credit I hate carrying cash, plus I like the rewards.
 

jaizei

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I use credit cards for for 99% of purchases I make. It's a habit that I started back when I used Paypal a lot and had a debit card linked to the account. I find it faster and easier than paying with cash, and it helps keep track of spending habits. Plus there's the rewards.
 

Yvonne G

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My Shell Mastercard gives me back 10% on the amount of $$ I spend buying shell gas every month, so I buy my gas on credit card (and I pay the card off every statement). My AmEx credit card gives me 3% of my grocery $$ every month, so I buy my groceries on a credit card too (and pay that card off every statement).

I recently looked into the Chase Visa card. They have a pretty good rewards program too. I'm thinking about signing up for a Chase Visa card.
 

Schlomo

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I use a credit card for two main reasons - 1. Rewards and 2. Tracking purchases. I get 5% cashback on gas, groceries, drugstores, and various other categories with my Amex card - the card also extends warranties on any electronics I purchase by one year. I have any disputes about charges - Amex takes care of it. Also, it allows me to easily track of everything I purchase.

I do use my credit card somewhat like cash, in that I do not carry a balance. I pay off my card at the end of every month.
 

Robert

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If I could trust myself to pay them off 100% every month, then like Yvonne and Schlomo I would love to take advantage of the rewards. Unfortunately I don't trust myself, and neither does CtTortoiseMom!
 

Kristina

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I just don't want to run the risk of getting in over my head. I don't make very much money to be honest, but I have very very little dept compared to a lot of people my age and I like that. Sometimes we have to squeak and scrimp when an unexpected thing happens, like a car breaking down, but we handle it and we have a roof over our heads and food on the table (and in the tortoise pens!) I don't have internet at home, I don't have cable, etc., but that is okay because I have more important things to spend that money on. They aren't necessities. It amazes me the people I see that can't even buy new clothes for their kids, but have 200 channels!

The CareCredit has come in handy, it can be used at doctors and dentists offices as well. Every charge is interest free for the first 6 months. I got it several months back when one of my cats got sick. Good thing to have.
 

dmmj

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I disagree I could not live with the internet at home. as long as you pay off your credit cards every month then it makes sense, carrying a balance does not.
 

Angi

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I use a debit card. My kids always take my cash. For large purchases or something we want a guarantee on we use the credit card, but we pay it off every month. We went to Hawaii with our Visa miles last summer :)
 

cherylim

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I used to say I would never get into debt, and I was doing well with it, saving lots of money up. I thought credit cards were 'evil'.

I've always been an extremely careful budgeter. I watch my pennies very closely, rarely treat myself and organise everything perfectly. However, around three or four years ago my then best friend (now partner) nearly died. I ended up using all my savings, and getting into quite a bit of debt, to cover his costs and help him through. Now, I'm paying off that debt at a rate that suits me. It used to terrify me - it was taking over my life - but now I'm in a financial position where I'm choosing to live life as normal and whittle away at it, and it should be gone in early 2012.

What's changed, though, is that this credit card I now have won't be being destroyed when everything sorted out. The old 'me' would've rid herself of it instantly. I'm going to keep it for emergencies, because I now know how valuable they can be, and I know I have the ability to pay them off again. I'll also use it for large purchases, and then pay it off again instantly, because I like the extra level of security I get with credit card purchases.
 

DocNezzy

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Credit for rewards. Pay it off several times a month. I never have to pay interest.
 
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