Are credit cards better than using cash?
Question asked by: knowitall
Yes it is better to pay using credit cards rather than through cash transactions if, and only if, you pay your balance off in full every month.
This is because you get an interest free period to pay off the money which is usually between 45 and 60 days - up until the statement and the payment date.
Therefore you keep your hard earned money for longer before handing it over giving you more chance to earn interest on it.
This is particularly useful with purchases that cost several thousand as you have extra time to earn interest on that large sum of money.
By: Unknown
Average rating for this answer is 4.5 / 5
Rate Answer
Comment or provide your answer to this question
No comments have been added to this question "Are credit cards better than using cash?".
No comments have been added to this question "Are credit cards better than using cash?".
Ask a New Question
Find out more about Money
Money Questions and Answers credit cards Questions and Answers Next question: What is a 0% credit card?
Become a Member! It's Free >>>
Puzzles
Question Keywords
using cash credit cards
More Questions:Are Premium Bonds A Good Purchase?
Do I Have To Keep Credit Card Statements?
How Many £1 Coins Are Available In Circulation Today?