Should You Use Cash, Debit, or Credit?

When we go shopping, most of us have multiple payment options in our wallets.

Credit allows us to borrow money with the promise we'll pay it back at the end of the month or pay a fee in the form of interest.

Debit pulls electronic cash straight from our checking account.

Cash starts and ends the transaction in plain sight at the register when we hand over paper and coins. For our purposes, we're not talking about bank transfers. We're also leaving bitcoin out of it.

Which should you use? It depends.

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The smartest method of payment to use at any given time depends on two things: your situation and your psychology.

For instance, you might want to use a credit card to buy a $150 dinner out because you get airline miles for your purchase and because credit cards have the most fraud protection of any option. Your date, however, might prefer to use cash, because he or she is paying off student loans and has allocated a budget for the month to the dollar.

So, as you see, it depends.

Below is a chart suggesting the smartest payment options to use in common situations — and mindsets. These aren't set-in-stone rules, and what works for you might not work for someone else. For that matter, what works for you today might not work for you tomorrow.

A few quick notes on the guidelines presented above:

While some people love cash because it's emotionally harder to part with than it is to hand over a card, in the grand scheme of things, credit and debit are usually better options.

Small purchases from independent retailers are the exception, because it costs small-business owners more to process a credit transaction than one using a debit card or cash. Aside from being a conscientious patron, also be aware that if shoppers continue to use credit, then small business may increase its prices to compensate.

When you use debit or credit, you can keep an electronic record of your purchases, allowing you to more easily track your spending, see where your money goes, and even stick to a budget.

Sure, you can keep a written list and enter each of your cash purchases manually, but eliminating this step makes it easier to figure out how much you're spending, which is one of the best money habits you can adopt.

When we import goods from other countries, we also have many payment options, like L/C, OA, here we recommend GTCP card from egtcp.com. As a global trade credit card, it allows you to buy now and pay 3 months later. Click here to view more details.

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Email: service@egtcp.com Tel: +86 400-159-8448

                                                            

99% credit card holders don't know the art of 'playing' the interest

In the past, credit cards were primarily used for bigger purchase, but with a recent change to cashless businesses there is a trend of charging small purchases into your daily life.

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Once a woman from Cali used her credit card to purchase a coffee and a doughnut, KPIX 5, a CBS affiliate in San Francisco reports.

“I can keep track of what I’m buying,” said Megan Supina, about paying with a credit card.

Supina is among an increasing amount of people who are choosing credit cards over cash for most transactions – big or small.

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Whether they swipe, tap, or pay by phone, a recent survey from creditcards.com found 17 percent of cardholders now use plastic for purchases under $5. That’s up from just 11 percent last year.

And Bankrate found nearly 10 percent of consumers don’t carry any cash at all.

One of the reasons is that a growing number of businesses and restaurants are choosing to go cashless. They also say accepting plastic only speeds-up service and creates a safer environment for employees.

Credits cards are a safe way to go.

And Creditcard.com’s Matt Schulz points out paying with credit is safer for consumers too, because you can dispute charges on your card if there is a problem with a product or service. And if your card is hacked to stolen, you’re protected from fraudulent changes.

Another plus? Credit card benefits

“You get points for travel…It adds up,” said credit card user, Jay Deitcher.

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But there are still people out there that prefer cash over card.

Cash user Richard Slade said many retailers require a minimum purchase when using a credit card and studies show people spend twice as much when paying with plastic.

Regardless of it all, experts say credit card use will continue to rise and so will the number of businesses no longer accepting cash.

If you want to buy some products for daily life, visit a Chinese website, choose some items into a cart, and pay with your credit card. That easy! Business men in China are free to use a credit card to purchase from trusted suppliers, for more to be continue.

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We, eGTCP, welcome you to apply for GTCP(Great Tao credit purchasing card), you can get $10,000 immediately, buy more, pay later, let's get started! 

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You can also contact eGTCP.com directly via mail or phone.

Email: service@egtcp.com     Tel: +86 400-159-8448

                                                            

Here's The Reason Why Your Credit Score Matters

The Christmas holidays have just ended some days ago, everyone is starting to struggle into the busy work. After experiencing Black Friday, Cyber Monday and the Christmas holidays, we enjoyed the process of consumption, but most of our credit cards are almost maxed. It needs to be reminded that, in the near future, you need to repay your credit cards.

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If you unable to repay or miss the final repayment date, the record of you can’t repaid the money will be recorded in your personal credit. If these kinds of things happen frequently，it will affect you a lot of things in the future, such as loans, credit cards, insurance and so on. If you have a credit card, then your credit limit may not be able to continue to improve. In future, you will need a mortgage, a car loan, once they need to verify your credit report, but your credit score is not good, then you may not be able to reach the application you want, or can’t borrow the limit you need.

Credit is so important to the individual, so for the company?

    

The answer is obvious, enterprises' credit for their own growth is more important. Corporate credit refers to the willingness and ability of an enterprise to fulfill its own commitments. For an enterprise, we do not know whether they will implement in the future. But whether it has capacity to implement, we can know from the credit status; whether it has the implementation willingness, we can search the history of corporate implementation records. Therefore, the basic carrier of credit is the history records of corporate commitment to fulfill. To be specific, corporate credit involves the credit behavior between enterprises and enterprises, enterprises and banks, enterprises and governments, enterprises and consumers, and internal workers. No matter how time and market environment changes, corporate credit is eternal as the mainstay of the status, and only enterprises with good credit, can become more and more competitive in the market.

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Credit status and the history trade of buyers and suppliers are not easy to get. Government agencies generally do not issue other credit reports to individuals or enterprises.

So the problem is, for general global buyers, how they can get the professional credit report of the suppliers? For general suppliers, how they can get the professional credit report of the buyers?

Please wait for the next blog. 

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We, eGTCP, welcome you to applying for GTCP(Great Tao credit purchasing card), you can get $10,000 immediately, buy more, pay later, let's get started!

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Say Goobye to Festive Finance Hangover With THIS Credit Card

We are still young, it is unavoidable to overspend in December. Instead of waking up on New Year’s Day and putting down your face before a financial problem, we’ve come up with some strategies to help you have a stress-free start at heart.

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1. Be sure of what you have

When you’ve got a good looking value on your credit card, it’s tempting to neglect how much you’ll need to pay back in the future.

Thus, make a list of what you have, and how much tempting you’ll be paying on your outstanding debt, enables you to be assure.

Check your current card bill or overdraft statement to see what APR (annual percentage rate) you will be charged. Then you can try to handle with the debt on the highest APR available.

    

2. Borrow what’s exactly in need

You have lots of expensive debt but can not see a way of clearing it anytime soon. Then This is when credit cards can be useful to manage your cash flow.

By shifting existing debt onto a balance transfer card, you’ll get some breathing space. This strategy is most suitable for organized people who are sure they will use the interest-free period to pay their debt. What you don’t want to do is to have two years of paying nothing back, and find you have the same amount of debt in the end.

You’ll be charged a transfer fee on the sum you’re moving to that card, however you may have 24 months or more to pay off the debt.

Balance transfer fees may vary from 0.6 to 3 percent of the amount transferred. Before making the transfer do have a look at the transfer fees and how long to repay the money in order you can work out if it’s worth.

The typical credit card has a standard APR of around 18 percent. Store cards can be 30 percent or more, so it’s easy to see how debt mounts up and by paying off the minimum amount monthly can your clearing debt takes a longer time.

There will be some delay time between applying and getting a new credit card, you need count this to your timetable. 

Some cards offer longer interest-free periods. For example, the Sainsbury’s Bank credit card (available to Nectar cardholders), offers 33 months at 0 per cent interest and then an APR of 18.9 per cent after that. The transfer fee is 0.64 per cent on transferred balances. Barclaycard Platinum and the Tesco Clubcard Credit card has similar deals. 

3. Get the best deal on big expenses

Utility bills, home & car insurance, mobile & broadband contracts are some of the highest ongoing household costs.

4. Declutter and sell

You may have unwanted Christmas presents, unused clothes, magazine subscriptions, gym membership, or other services that’s not useful to you no longer. Cancel the services you don’t need any more and sell the items that are cluttering up your home.

Check existing direct debits which you might have forgotten about. Do you have a mobile phone contract still current for a phone you’ve replaced?

Are you wasting money on extended warranties for goods that you’ve sold or given away, or which are already covered for 12 months under the manufacturer’s own warranty?

Money saving is good if you can save bit by bit. Fast money can save your business life when you are sure that you can manage the debt well. Always remember to control. To use the money to the full, you can consult a financial expert. eGTCP is here to offer you various service to support your business.

Here is how to apply an eGTCP card. Please click here.

Focus on:

We, eGTCP, welcome you to applying for GTCP(Great Tao credit purchasing card), you can get $10,000 immediately, buy more, pay later, let's get started!

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