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To Cash or To Credit Card? That is the Question!


For most Filipinos who are used to paying cash and think of credit card as a mere plastic card that is used to open locked doors in the old movies, then this article is not meant for you. No offense meant, but this is for those who have cash and the luxury of credit card. Except otherwise if you have a plan to get a hold of a credit card in the near future, then feel free to read on.


About three years ago my brother gave me a supplementary credit card from HSBC. I know a few things about credit card back then but never had one before and so I was excited and happy that my brother gave me that credit card. But I never really had the chance to use it and the main reason is my brother told me to use it in case of emergency only! The other reason is I am use to paying cash and I see no reason why I should pay using my credit card.


My brother and sisters have credit cards and they often use it to buy groceries, appliances, electronic items and even pay their utilities, even before payday or even without savings! That’s one great thing about credit card. As they say, it is good as cash! Also I always hear complaints about interest. Now that is one issue about credit card if you fail to pay on time or pay less than the minimum payment required, you will see a late payment fee on your bill and it will keep on accumulating until you pay the full amount.


DOWNSIDE of CASH Cash is cash. You carry it to buy things or pay utilities. Security wise, not guaranteed unless you will ride in an armor car and carry half a dozen security guards. Unless you have a lot of saving or hit the jackpot in the lottery, you cannot buy appliances or other electronic items in full cash. UPSIDE of CASH You spend less when you use cash because you’ll see your money leaving your wallet. You will not buy anything beyond your needs because you don’t have cash.


DOWNSIDE of CREDIT CARD You tend to spend more because you don’t see any money leaving your wallet. If you don’t keep tab of your due dates you’ll be getting a lot of feebees. The word is not misspelled it means additional FEES!


UPSIDE of CREDIT CARD Credit card is as good as cash but you pay on credit. Security wise guaranteed (unless your credit card details is stolen by hackers) stolen credit card can only cost PHP 300 for replacement. Cheap! You get rewards, freebies, discounts and a free pen or notepad. If you pay on time the full amount due, then you get zero interest which means you got cash to pay for your credit and have a good memory.


So to the question to cash or to card, this depends on your individual circumstances. Before picking either one you should evaluate both options and see which one that fits you the best. Read more articles by clicking the following link: Credit card http://www.compareking.ph/credit-cards/cash-creditcard-question/

To cash or to credit card that is the question  
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