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Why Americans Prefer Plastic over Paper
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Posted On :
Jul-05-2013
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Article Word Count :
526
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There is no question that over the last two decades the trend has gradually shifted toward Americans opting for credit card swiping over cash handling.
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There is no question that over the last two decades the trend has gradually shifted toward Americans opting for credit card swiping over cash handling. That is perhaps no surprise, given the many advantages of credit and debit cards over cash. In this fast-paced world, it seems to make more sense to use plastic over paper payment methods. Here are some of the reasons why…
No Change
One of the big advantages of plastic is physical. Cash requires carrying a lot of paper and coins, which can feel heavy and clumsy in your pocket. When you want to buy something, you have to hope that the person you are buying from can make the right change for you. With plastic, those hassles disappear because the transaction is electronic. No actual money has to be exchanged, meaning there is no need for either the buyer or seller to worry about coming up with the correct change.
Increased Safety
Transactions using credit or debit cards are safer and incur fewer risks than cash exchanges. Money can be lost in the incorrect making of change, or it can be stolen outright. Money as a physical object plays no role in credit card swiping, and credit card companies generally provide theft/unauthorized purchase protection as a cardholder benefit, so the chances of error or theft are greatly reduced. Using a credit or debit card means more peace of mind.
Better Bookkeeping
Many cash transactions do not produce a paper trail. Even when they do, receipts may be lost. Credit and debit cards, however, generate permanent records that are stored electronically and can be consulted at any time, even if you lose original purchase records. If problems arise, an entire transaction can be recreated and the appropriate corrective action taken. With cash, it is much more difficult to keep track of or retrieve the details of a transaction in such instances.
Extras
Nearly all credit cards offer warranties that give your purchases coverage that wouldn’t be provided for cash transactions. Often these warranties are offered at no extra expense. It is also common for credit cards to grant discounts and special offers that are denied to cash paying customers. These features make using plastic a more financially-rewarding experience overall.
Convenience
There are numerous instances where using plastic is simply easier than using cash. For example, if you wish to make a purchase online, there is usually no other way to do so except by using a credit or debit card. Cash is virtually useless in the internet world, which means the web’s products and bargains are closed to those who aren’t onboard with card use. Additionally, when people go shopping in a store, a cash shortage is less worrisome to card users who wish to buy something or take advantage of a bargain. Such special purchases are no problem when you have the flexibility of credit card swiping.
The days of cash are fading as the use of plastic continues to increase. Considering all the advantages of plastic over paper, it's no wonder that America's preference for plastic keeps rising.
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Article Source :
http://www.articleseen.com/Article_Why Americans Prefer Plastic over Paper_271191.aspx
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Author Resource :
The author has an immense knowledge on credit card swiping. Know more about credit card related info in his website http://www.truemerchant.com/products-and-services/traditional-processing/
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Keywords :
credit card swiping, truemerchant.com,
Category :
Finance
:
Finance
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