Catherine Acorda-Mapalo
Member
Some transactions require a credit card. Renting a car, booking a hotel, or purchasing airline tickets all require you to use a credit card, or at least a debit card. If you're living on a cash only, you'll have a harder time completing electronic transactions.
With cash, your spending is limited to what you have on hand. Credit cards, on the other hand, provide you with additional purchasing power without the risks that come with carrying the same amount of cash. On the other hand, opting for cash over credit could be a good thing. Studies have shown that people tend to spend more with a credit card than with cash. Using cash for all your purchases minimizes the risk of going into debt.
With cash, your spending is limited to what you have on hand. Credit cards, on the other hand, provide you with additional purchasing power without the risks that come with carrying the same amount of cash. On the other hand, opting for cash over credit could be a good thing. Studies have shown that people tend to spend more with a credit card than with cash. Using cash for all your purchases minimizes the risk of going into debt.