Pros And Cons Of Cash And Debit Cards

The liberalization of the money related divisions in Asia has brought about the fast spread of charge card organizations and monetary organizations giving different sorts of purchaser credit. The charge card market in general world has extended radically that the guarantors of outside nations has presented cellular telephone Visas for the comfort of their customers.(Amin, 2008) This, combined with the passage of remote banks, has enormously expanded the quantity of credit cards accessible, and consequently such spending in Pakistan. Despite the fact that charge card was presented in Pakistan decades prior when Habib Bank, the biggest bank in Pakistan, dispatched its gold card, however individuals had scarcely think about this card in view of its extremely restricted issuance. Several years back, Master card was introduced by ABL (Allied Bank of Pakistan), but that also was not get good attention. In year 1994, VISA Card is introduced by Citibank, that give a better turning point to plastic money industry in Pakistan. The working of Citibank no doubt was amazing that open doors for new offerings for the people of our country as well as for financial industry

Credit cards and debit cards are both useful by people to provide them with money to spend. Even though they are very similar, both being a card with a 16 digit number, expiration date, and pin codes, they are both very different. Debit cards allow bank customers to spend money that they deposited in the bank with a card. Credit cards allow consumers to borrow money from the card issuer up to a certain limit in order to purchase items or withdrawal cash. While debit cards have little to no fees, unless overdraft if allowed, credit cards generally charge annual fees, overdraft fees, late payment fees, and plethora of other fees or penalties. In all, a debit card is better for you since its money from the customers bank and there is less fees than credit cards.

     Another example of a purchase that credit may be used for is non-durable. These types of purchases include food and services. Many college students use credit on this “pizza and beer” type spending. It’s a much more convenient way to pay for such purchases with the slide card method. Overspending is a real danger in this area. Many consumers will quickly over extend their spending and find themselves in large amounts of debt for purchases that are non-durable. Many things can only be purchased with a credit card and may lead to an entirely new group of expenses itself. This type of spending must be closely monitored to avoid ruining your credit report.

Always pay with cash that is tangible. I do not like people being able to monitor what I purchase, especially when they are higher priced items, by using cash they cannot know that information. That way, the banks cannot see what I spent my money on and paying up front is much faster. Additionally, paying with cash guarantees that there is no chance of going into debt. Not having a debit or visa card leaves no room for temptation, so you have to use the cash out of your wallet. Seeing the amount of cash also brings more awareness about how much you are actually spending

Credit Card: A credit card is different from a debit card in the way that credit cards are allowing you to use money that isn’t yours. A debit card disburses money from your checking account directly, and even if it has a “Visa” or “Mastercard” logo on it, it is still coming out of the money you already have. Credit Cards typically charge you interest for using the money that is not yours. Just like the revolving line of credit, keep your balances below 50% to be in the clear, but ideally 25-30%.

The submission of claims can be submitted electronically through a MAC. MAC is Medicare Administrative Contractor and you use that from a provider using a computer with software that meets electronic filling requirements as established by the HIPAA claim standard. You have to meet the CMS requirements contained in the provider enrollment. Also the certification is the category area . Anything after January 1, 2012 submitted electronically must be in 5010 standard. If it is not it will not be excepted.

Credit cards aren’t bad when used properly, but could be if used improperly. We should make sure we know the difference between what we need and want. We sometimes justify a purchase by saying ‘I really need it”, but we should ask ourselves “what will happen if I don’t get it?” Once you ask yourself that question, then at that point is when you determine whether or not it is worth using. Improper use of a credit card will lead you quickly into debt. It is better to make a purchase with cash or debit card than with a credit card. If you are unable to afford something you really want, it is best to save and buy

The Bank Person- Why, yes we have Debit Cards so that you can pay for goods or services using money in your checking account.

Cash points today have come so far some shops/resturants we now even have self service cashpoints were customers are no longer met with employees scanning your items totalling them up and asking for you choice of payment, now in stores such as tesco customers have independence with their payments.

Kids who use credit cards won't understand the value of money. Indeed, a 2012 study found that people who know they will be paying with a credit card focus on the item. When people pay with cash, however, they focus on the price. For example, expert Mike Washington points out that using credit keeps people from feeling pain when buying something expensive. Because of that, kids who use credit cards learn to make bad decisions and do not care about the

The controversy between cash and credit is something that needs to be addressed. The differences between using cash and credit cards for making purchases varies depending on the type of person. Many people believe that credit cards are a better choice between the two. Credit cards offer more protection, more benefits, and simpler ways of managing expenses compared to cash.

For many years, there has been an ongoing debate whether using credit cards is a positive or a negative idea. On the positive side, credit cards are a widely-accepted method of payment across the globe. One of the benefits of using your credit for payment is foreign travel, when you are traveling out of the country it saves you from having to exchange your dollars for the local currency, your credit card company calculates the exchange rate for you and automatically posts the correct charges to your account. (Yuille). In addition, credit cards are great for emergency situations where you find yourself in the position of having to spend a large sum of money that you had not budgeted for and may not have the money readily available. These unforeseen expenditures can then be worked into a monthly budget and be paid off in a series of monthly installments (Yuille). For instance, making a large purchase with a credit card and promptly making your monthly payments until the debt is satisfied, could improve your credit score which can help qualify for future loans should the need arise (Detweiler). Furthermore, many credit card programs have rewards programs you may be eligible for. Such as, being eligible to receive a percentage of your purchase as a cash back reward, earning airline frequent flyer miles for each dollar you charge to your credit card and often you are offered discounts on daily purchases (Vanderpool). Credit cards also allow for convenience. Having a credit card

Credit cards can improve the chances of getting house or car loans in the future, can buy things without the exact amount of money at the time, and that the consumers won’t have to carry cash around when they are in a mall or a shopping center.

Are credit cards dangerous? In the past five years, the credit scores for those who own credit cards have been taking a toll. By using a credit card, people are more exposed to the higher possibility of geting into debt. Using a credit card puts a buyer at the risk of buying too much or using too much of their score. Cash in contrast to a credit card cannot physically show you how much monye you have or have spent. Not to mention that a credit card owner will go to the store and buy a pack of gum with their credit card they will owe more than the initial listed price of the candy bar. Why is this? Well, for example, if someone buys a piece of bottle of water for $1.20 and the credit card has a five percent interest then that person will actually be spending $1.26 to the company they are using the credit card with. This is because buying anything with a credit card allows the bank company to charge you interest on that item later. They then receive money since you are using their card. Credit card companies will often offer you benefits such as low interest or no fees for the first few months which is an effective marketing scheme. Even though you are getting these “free benfits” the companies will make their money back later by charging an increased interest on payments you have yet to pay for. Although using a credit card is beneficial to society for its convenience, credit cards also have many downfalls following closely behind such as overspending, getting into debt, and

Both cash and credit cards are similar in that they both are easy to carry around, and are used to pay for goods and service at the time of purchase. When making a purchase using cash, the items are paid for in full. Cash is acknowledged in every establishment such as department stores, food chains, grocery stories, as well as schools, and more. Moreover, using your money to pay monthly bills carries substantial benefits such as increasing your credit rating. When purchasing items with a credit card or cash, it permits you to pay for all your items in full. Equally, most credit cards are also widely accepted at various restaurants, universities, clothing stores, movie