Credit Card and Cash

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Credit Card or Cash

Kymberly Wilkins

English 121

Alicia Giffin

December 20, 2010

Credit Card or Cash

I. Credit Card Pros

A. Convenient and it saves time/ Order things or pay bills online

B. Allows you to purchase things in advance when you may normally need to wait until you get paid.

C. Plastic currency is becoming more universal, meaning it is widely accepted, especially for travel.

II. Credit Card Cons

A. Although they are convenient you may have to pay service or interest fees for every use

B. Credit card debt can pile up very fast if you do not monitor its usage.

C. Identity Theft

I. Cash Pros

A. You can only spend what you have.
B. It is more likely not to pile up debt.
C. You do not have to pay fees or interest rates

II. Cash Cons

A. Although layaways are becoming more popular again, you may not be able to pay for things right away. B. If you lose your wallet or purse, that money more likely will not be replaced. C. Using cash cut down on your convenience for time when you are in a rush. I.e. purchasing gas.

Credit Card or Cash

In today’s society the two most popular ways of spending money is by using credit cards or using cash. Since the beginning of time, currency has made the world what it is today. When you observe the United States versus the six other continents, the U.S. has an enormous flow of currency compared to the others. Even though, the United States makes its own currency, civilians have the ability to consume the produce they need and the merchandise they want, with different methods of payment. This is where the option of credit cards or cash comes in. When people think of credit cards, they think of an easier method of payment, but when people think of cash, people think it’s quicker to spend. Some people have the option to use both.

However, all over the world more and more people are starting to use credit cards....
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