Amazing Alternatives To Credit Cards
Almost everyone nowadays has a credit card. Young adults tend to get excited having one because it seems so convenient. What they don’t know is that as time goes by, they get older and wiser, they will realize how it is actually not that great because it puts them into debt. If you ask a person if they want to be in debt, no one, not even a single person, would say yes.
Yet, almost everyone has a credit card. That is one of the disadvantages of having a credit card, it is basically encouraging people spend money they don’t have, at first it may seem like free money that you could just always pay for at the end of the month, but then once your bill comes, you will realize you don’t just have to pay for what you owe but for the interest as well, which can be very big.
The worst thing is that credit cards can be stolen, not just the card, but the receipts as well, even online, although it can be prevented, you just have to take extra good care of it. That is why we have come up with the greatest alternatives for people who don’t want to use a credit card.
This first one is actually a good alternative to credit cards because it doesn’t necessarily put you into that big of a debt. Simply because debit cards are connected to your account, where your money is, that would then make you spend the money that you already have, unlike with credit cards, it makes you want to spend money that you don’t have, which is basically like a temptation device.
A debit card is like using a credit card, but without interest charges, annual fees, and of course, debt. It has its own disadvantages just like everything else, especially when it comes to protection. When your debit card gets stolen, you could lose every penny you have in your account if you don’t report it right away. Debit cards are good for shopping since you wouldn’t overspend, but it is not technically good for paying to hotels or rental cars etc.
Well, of course, you wouldn’t want to forget that you could just always bring cash. Before there is any form of credit cards and debit cards, there is cash. With cash, you could pay for everything, without having to worry about spending money that you don’t have and of course, no debts for you that’s for sure. However, one of the reasons why there are credit cards and debit cards in the first place, carrying around cash can be a hassle, since it’s bulky, especially coins.
PREPAID DEBIT CARD
This type of debit card is actually pretty convenient as well because what you can do is to just load it with a certain amount of money whenever you think you will be needing it and just simply use it. However, there are also fees that go with it, like monthly account maintenance fees, transaction fees, and even ATM fees.
For the benefit of the doubt, charge cards are different from credit cards. This has been a misconception for the longest time. It is actually similar to credit cards, but they don’t have a pre-set spending limit, what it offers is that it would prevent you from overspending. For instance, you have been spending money too much compared to usual, the company would then contact you if everything is fine and they could also let you know about things you should know as well.
ONLINE PAYMENT/DIGITAL WALLET
Last but definitely not the least, is probably the most convenient way in this generation when it comes to money. Online payment is so convenient, that all you have to do is to connect your account to your preferred app on your smartphone, and you can pay for things through there. Same goes with digital wallets where it is literally a wallet in your phone, where you could add some money in. Since everyone has a smartphone these days, this has become very convenient for everyone.
More in Debt
Celebs Who Made Amazing Property Investments
We don’t need to tell you that most of the Hollywood bigwigs are filthy rich. So rich, in fact, that they...August 28, 2018
Crowdfunding: A Peek Into the Future
In a not so distant past, crowdfunding was not even a word. In fact, there are still more people out there...August 27, 2018
Interesting Crowdfunding Projects to Support
Successful businesses all begin with an idea. These ideas often come from creative minds who saw better solutions to problems or...August 24, 2018
Queen Elizabeth – 92 Years of Living a Luxurious Life
There are many other monarchs in the world, but the most popular would really have to be Britain’s Queen Elizabeth II....August 23, 2018
Its Performance First for Luxury Cars Makers, Not Planet
Purchasing an electric car has become a lot like having a salad. It’s good for you even though it’s not the...August 22, 2018
What We Can Learn from These Entrepreneurs who Raised More than $1 Million through Crowdfunding
Crowdfunding is not easy and it certainly is not for everybody. Besides the wealth of knowledge that is available online about...August 21, 2018
Worried About Your Student Loans? Here’s How You Can Repay Them
One thing that keeps students about to graduate happy and jittery at the same time, is the realization that another big...August 20, 2018
Things to Do when Debt Collectors Call
Having a standing debt is not easy. It gives us a lot of stress just thinking about how to pay. Receiving...August 17, 2018
Investment Mistakes The Ultra Wealthy People Would Never Make
You might have been repeatedly asking what wealthy people do that you do not do. While these millionaires and billionaires just as...August 16, 2018