Choosing a payment method is sometimes difficult particularly for buyers who cannot control their spending. Every payment method has its advantages and disadvantages. An evaluation of the pros and cons of a payment method can guide buyers on the best payment method. However, buyers must also consider their credit history and shopping habits. Some payment methods encourage buyers to spend more than they had planned to spend.
Credit Cards Credit Cards play a major role in today 's society. They make purchasing items, and learning responsibility extremely easy. In order to maintain a Credit Card one needs to make sure they are up to date with their payments and they never spend all of the money on the card. But this is all going to be explained in this essay, so continue reading!
Please join StudyMode to read the full document. Writing Level 7 Credit Card versus Cash Credit Card is an easier way to use the money instead of seeing how it disappears from the wallet. People can have a better control of the money not only having it in their wallets but also having it in a bank account. Because credit card holders can see the movement of the money for each purchase. Most people tend to use cash when they do not use a lot of money in their wallets, but credit card holders who have a lot of money usually have a credit card.
Some credit card users fall into credit card traps. Studies show that people tend to spend more when paying with credit cards compared to cash. A study showed people were willing to spend up to twice as much when using credit cards compared to using cash. You can avoid it by setting a spending limit with your credit card based on how much you can afford each month.