I like my debit card best my husband uses cash due to travel he is very bad with the debit card. Dont like to use the credit card unless we have to. They give you to much chance to over spend.
With a multitude of ways to pay for things today, I thought it would be interesting to see how everyone here likes to pay for things on a daily basis. Personally, I’m a cash or debit card person, with debit being the most frequently used. Since our credit cards are for overflow emergency expenses only, we have no use for reward program credit cards. To compensate, we have decent reward program on our Chase debit card. So, I’m curious to see how everyone else likes to pay for things, so I created a poll. Feel free to elaborate in the comments as well.
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About the Author: Jeremy Vohwinkle is a Chartered Retirement Planning Counselor® and spent a few years working as a financial planner. Today, he helps people make the most of their money by writing about personal finance here and elsewhere on the web. Jeremy is also Coach at Adaptu and a regular contributor for other publications such as Intuit, and American Express. Be sure to follow Jeremy on Twitter or Google+.
Credit card unless I absolutely have to write a check (like for my kids' daycare). I love the convenience and rewards and of course, we always pay the entire balance.
My in-laws are check writers - not always but often enough that it's still a stunner when they do it. Can't talk them out of it though.
@Brian - My husband and I have three cards each. One is a shared rewards Visa for most purchases and one is a shared Amex rewards card basically for Costco. Then we each have a different third card that's in our own name only that we hardly ever use - this is the "heaven forbid something terrible should happen, we each have our own separate line of credit" emergency card.
Credit Card for me because I like the reward. I pay off every month so interest & fees are not an issue.
Debit card or cash. Credit cards for large purchases - $200+. Although we can pay off cards in full every month, credit card debt scares me. I'm the sort that pays off balances in advance, even before the month is up. Therefore it doesn't really make things any easier to charge something, because odds are I'll pay off the CC within days anyhow.
I use my Discover Card for almost all purchases except on on-line, which I use a Mastercard since it is more widely accepted and also I can monitor easier since it has fewer transactions.
I use the cashback rewards to purchase gift certificates at Discover where you can get great deals and gain some extra bucks.
With debit cards since the money is already out of your account it is harder to get your money back if you have to disbute a charge, where with credit cards you can disbute before you pay.
I use my debit card for everything. It's a lot easier than carrying cash, and much easier to track in your budget.
Interesting, there is a check user out there...
Maybe you are the same person who almost always ends up in front of me at the checkout in the grocery store and you wait until the cashier reads your total before you even begin reach into your purse or pocket to grab your checkbook :D
"For you guys that use credit cards, how many cards do you carry?"
I have three cards but I only carry and use one of them. The other two I keep in a safe place and keep open only because they help my credit score. I use this card for 99% of my purchases.
"For you guys that use credit cards, how many cards do you carry?"
I carry two - an American Express for use at Costco, and a MasterCard w/cash back for everything else. I also carry my debit card just in case someone won't take plastic, I can always go to the ATM, but I like getting free money, so I use my cash back card for EVERYTHING (keep in mind I also pay the bill in full every month).
For a while I switched completely to debit card just to limit spending while I paid off my credit cards. Recently I've switched back to a credit card because I can pay the balance in full every month, and I get rewards that way.
I use cards as well - paid in full every month. This way I don't pay interest on purchases, and earn interest while I have the cash sitting in the money market account.
The key here is that my wife and I don't charge on the cards more than we can pay off per month - and still put some money away/towards non-revolving debt.
A total of three cards: 1 amex rewards, one master card that downloads nicely to quicken, and one card at our CU for emergencies.
I rarely use the debit card as I feel using a credit card is safer - $50 maximum liability in the event the card is stolen, and it doesn't take cash from my pocket immediately (its the last bit that most concerns me).
I used credit cards for nearly everything (rewards points, keeping my money in savings for an extra month). I carry around between two and three credit cards: I prefer to use my Discover card, but have a Visa for places that don't take Discover, and I have a store-branded Visa that I only use at that store (rewards points). My wallet is pretty small.
I currently use a debit card for everything I purchase. I know I should get a rewards card and rack up some points, cash back, etc, but I have a hard time convincing myself to open up yet another credit card. (I still use the two I've had for the last 10 years)
For you guys that use credit cards, how many cards do you carry?
I can't remember the last time we used anything other than a credit card to pay for anything. I bought a 79 cent soda the other day and used a rewards credit card. Technology has gotten to the point where cards are faster than cash, and you don't have to worry about dropping coins or getting the wrong change. Of course, there are other worries with credit cards, but they're worth the risk for the convenience and rewards.
I voted as debit card, but in reality I use a combination of cash, debit, and credit. I use cash for most small personal spending items since my budget is pretty small in that area. I use debit for all groceries and credit for all bills and gasoline. Crazy system. But it works for me. I would use my credit card for more everyday purchases, but I don't trust myself yet.