 Mystic Money Matters QnA
Qn : Credit Card Or Cash - Which Is Better?
The result of using credit card and cash depends on when, where and how we are using them. Sometimes its better to pay by credit cards as you can avail for interest free period which usually lasts for 45 to 60 days. Buying car, laptops or other luxurious items which involves huge amount of money often put you in trouble as its difficult to carry enough cash all the time. However, credit card resolves this issue and also gives you the requisite time to earn that cash amount back. It is also a known fact that credit card usage is more eco friendly.
However use of hard earned cash has its positive points too. We can hardly deny the fact that credit card allures us to spend beyond our needs and means. With unlimited cash we intend to spend more and more all the time. While drawing cash from bank or ATM we get the time to rethink over the matter of expenditure. Last but not the least the minimum interest of 15% that we have to pay as a penalty for using credit card can be saved if we are patient enough to pay by cash.
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