Credit Cards And Buying With Cash / Debit

1980 Words Mar 30th, 2015 8 Pages
Ditching the credit cards and buying with cash/debit

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Date: Introduction
The world is fast changing which can be attributed to the advent of technology. A few years, the advancements that are now being witnessed would be considered impossible. Technology has enabled changes to occur in the economy sector with the banking system coming up with systems that can help their customers enjoy more of their products and services (Ron, 2008).
With this, the paper is going to look into the use of credit cards. The credit card usage has grown fast with many people opting to get one instead the use of cash system. This system which has seen the banks issuing more credit and debit cards and also influencing the growth of banks because ATM machines have to be installed to also help customers withdraw their cash (Mark, 2102). The paper will be analysing why people have chosen to use credit cards, the reasons why they should revert to using cash systems instead of credit cards.
The frequency in which customers use the credit cards for various transactions is raising concerns of whether customers have lost control over their finances. Previous studies in this area provided very little understanding on the impact of use of credit cards on customers’ cash flow management control (Ron, 2008).
The aim of this paper is to determine the extent of use of credit cards in cash deposits, purchase transactions at retail outlets, withdrawal and to determine the…
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