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When you arrive at the supermarket till you are faced with the fact that there is certain cash back for paying with your debit card. You have forgotten your card, so you say, It is all right, and I will pay cash. And to your surprise, you pay the full price, no discount, no cash back… as if real, authentic cash were some sort of snag, bad word, taboo or…
Ah, Modern Times
Credit card and debit card booms have made people aware of the convenience of having these comfortable little plastic slips. They are easier and lighter to carry, no hassle with change and they are even safe against theft. The lingering idea was that No doubt, there is nothing like cash. And all of a sudden we begin to discover that stores and supermarkets give you something like a bribe, if you do not use cash and instead use any card!
Any Card Will Do
Whether Debit card, in which you are spending your own money or a Credit Card, in which you spend credit, air, Other People’s Money, it is the same for the store, they get their money for a small transfer fee and that’s that.
However, there is a logical explanation for the preference of stores and supers for cards. Physical money has to be carried to the store, paid at the till, counted, put in money sacks, kept in a safe or sent to the bank in a truck, insured just in case and taken out again to pay bills, expenses, salaries and the cycle begins again.
Tadaaa! Cards To The Rescue
Since cards have spread out to almost every household in the modern world, people have begun to realize the convenience of plastic… only now, even the stores discover that with one swish of the card through a slot, they can save lots of money and inconveniences!
The Less Wealthy
Debit cards are a good option for people at the lower end of the salary line. It actually saves them money, avoids losing cash, prevents theft and it is also light to carry around. Those who are not employees and do not receive their salary directly credited into their accounts, can just go to the bank, open a savings account and ask for a normal ATM debit card.
It is a good way to get used to being up to date with payments, instead of living behind schedule, as it happens with a credit card. Credit ratings will be improved, since there is a lower risk of credit card delinquency. Now, whenever you need to use credit, you can start fresh, taking a loan for whatever it is you want to purchase, or even having the way paved for a mortgage to get your own home, something really essential for any family.
One More Advantage
With a savings account you can get a loan for the same amount that you have in your account. It is a good way to start off small and build up good credit ratings for when they are really needed.
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