Cash or Credit Card:Which is More Convenient?
Convenience banking can simply mean doing all your transactions online and going out of your house cashless. Well, it is not that you don’t have the money. You have only thru your cards – debit card, ATM card or credit card. But do you really think it is wise to always use your cards instead of paper money?
I have travelled with both of these options: with cash and no cash at all. Either one of them is a big help especially when you are on vacation. However, there are also the pros and cons of having either one of them. Let’s take a lot at these:
When you are one of those people who are always on the go, you will favor more on using your cards oftentimes than using paper money. Pretty sure, you are highly dependent on your online banking capabilities to maximize the use of your card(s). For me, this is how I see the convenience of using cards instead of your paper money.
- Easy on the pocket. It is nice to think about the lesser load on your pocket due to the absence of coins. Less worry especially when traveling. Now, you can only think about the more important things like your camera or phone when doing your sightseeing.
- Let your bank do the conversion. Currencies differ in every country. Instead of exchanging your money to their currency whenever you want to purchase something, let your card make it easy for you. All you have to worry about is if the card is declined or rejected. Once it was swiped and the receipt is there, then your purchase is good.
- Buy now pay later option. This is one of the conveniences of using your card. Given the limited budget when you travel, you can always use the credit given to your card. However, do not max it out unless you really have the resources to pay for it once you are done with your vacation. Otherwise, think a hundred times before you swipe it.
- Pay your bills online. You do not have to mind the bills you have to pay while you are out on vacation. If you are enrolled through the online access of your bank then paying bills will be no hassle to you.
- Sales! You see how they say n discount rate when you pay through your card? Or lower interest rate when you use this card? Take advantage of this! I sometimes go around the place first and see who has the lowest rate. Of course, at the end, the store that will be charging less on my card will be my choice.
- You will encounter some establishments where they prefer cards more than your money. You know how these establishments get some percentage on the sale of the item when it is charged to the card.
- When you ran out of money, it is time to your use your card(s) to save your day.
- If you need cash right away, you can always depend on your card. However, take note of the charges or fee they will cut from your balance once you do any transactions. Fees and charges differ from every country. So, you need to be careful on this one. Better be informed than sorry later on.
The convenience of using paper will come from the inconvenience brought about using your cards. I have come to appreciate my paper money a lot of times. Most of my trips are not spent on going to the shopping malls or checking in in to some lavish hotels. I am a budget traveler so I go for the ones that also has a good price tag. Good means cheap in price. Here are some of the conveniences of using your paper money:
- Not all countries you are going to are card-reliant. In third world countries or developing nations, cards value less than your cash. People living in these countries still get thrilled seeing real money. You will see how their eyes sparkle when they see the real one instead of seeing your card. I have been to some countries where I go to far-flung areas. Here, there is no way you can use your cards. Money talks a lot for you.
- When your card is declined, your last resort would be to ask money from the one you are currently with on the trip. Not unless he or she volunteers for paying for an item you bought or that dinner. This should not always be the case. The remedy for this is to always have a ready cash on your pocket. Declined cards do not always mean you ran out of your credit. It may also mean that your payment did not register yet and that your card is still pending due to payments that are not reflecting yet on your records.
- You saw something that caught your eye but it says ‘cash only’. Oh yes, there are still items that you can only buy through cash. When this happens, you are going to thank yourself a hundred times by bringing in some extra money.
- Transportation’s going from and to your destinations still need cash transactions. I have only seen some countries where cabs uses card for fare payments. Mostly, you can see this in rich countries. Still, so many countries are still not into this. So better be ready bringing that extra cash.
- Aside from your paper money, coins also counts a lot when purchasing items. It is better to give the exact amount (down to the last centavo) instead of giving more.
- Do you love to haggle? Well, I do. I am actually a true believer of it. As long as I can get the item at a lesser amount, I will do it. You usually do this in a flea market. As soon as you hear flea market, you know that this is an unknown territory for your card. Money is the king here.
- You are more believable having that money in your pocket. A lot of people will measure you on how much money you have in your pocket. Those cards will just be another one of those plastics that has no value at all for them.
Conclusion to Money Money is your best weapon when traveling. Regardless if this is in the form of cash or cards. As for me, the most convenient thing to do when it involves money is to have both of them ALWAYS. In fact, I make sure that I have both when I am traveling, It is not always that this one is more dominant than the other. Each one of them will serve their great purpose depending on every situation – just look at the above scenarios. Do not underestimate the power of either one of these options. If you want a hassle-free trip, bringing cash and card will be the best thing that you can do.