Comparison of Credit Cards and Paying with Cash Essay

Comparison of Credit Cards and Paying with Cash - Essay Example Measuring the benefits of cash against credit cards is highly individual and dependent upon circumstances. People often use credit cards for convenience. This is good if they pay the bills before interest is incurred, called the â€Å"grace period†. Businesses are also charged for accepting credit cards, so they raise prices. However, interest is high if the grace period is missed and it does not apply to cash on credit. A credit card is easy to use online, but care must be taken to check the transactions as one might see recurring payments applied from the fine print they did not read. Online purchases are much harder to make without a credit card, and generally, incur fees for a payment service. One often overlooked benefit for using credit cards is to build one’s credit rating. In today's’ world getting a mortgage or buying a car with no credit rating can be difficult and may cause the buyer higher interest. Some places have a chip sensing machine that only requires waving or tapping the card on a surface to register the purchase, making it even easier, but that ea se of use may encourage overspending. Cash may lower the price of items or services, but then the buyer must store the receipts and carry that cash, which is not as safe since it can be spent by anyone. When getting cash on credit the cost can be up to 29% and it accumulates at the time of purchase until that balance is paid, so running one’s self out of cash is also not good. Online purchases are much harder to make without a credit card, and generally, incur fees for a payment service, but debit cards that have a credit logo often work. Credit cards are fast and very easy to use. The major drawbacks to using credit cards are also what that makes them tempting to use: deferred payment and convenience.  Ã‚  

Mod Reflection Journals 5 Essay Example | Topics and Well Written Essays - 250 words

Mod Reflection Journals 5 - Essay Example However, businesses owner is torn between pursuing prosperity for the mutual benefit of the client and the business or the enterprise alone. The conversation revealed the moral justice discussion that should be geared towards the greater good of people. According to Mackey and Sisodia, the noble objective of a business is to pursue prosperity far from the common ideology that businesses and corporations are founded on selfish to generate profit (2). The ethics that surround business operations are not the only components that sustained our conversation. The discussion of morality also reminded me of moral worth of human beings in the businesses world. Mackey and Sisodia discuss old capitalism ideologies that suppressed people by pursuing personal interests that should not feature in the current economy. The moral worth of people rests in the fulfillment of desires and needs of other people. Businesses operations should be conducted on ideologies that do not encourage self-interests at the expense of the larger community. Mum asserted that morality is anchored on the powerful human motivations that should be respected in any social or economic endeavor. The conversation went on to highlight the need to pursue prudence and the greater good of people because that is what morality and ethics