Author: Credit card companies make money by putting surcharges on every credit card purchase. Some of them also make money at the payment end by requesting discounts on payments for credit card purchases made at a store. Also, credit card payments can sometime be late. Cash purchases do not have these financial burdens. Thus, it’s always better to pay in cash, for both the purchaser and the store. However, for the average person, money comes on payday but purchases can come at any time. This puts pressure on the person to either save money for these purchases or use their credit card.
Another option is a fast cash loan. Here, the person borrows cash at interest rates comparable to surcharges made by credit card companies. This prevents credit card companies to earn money from the payment or store end since payment was made in cash, thereby protecting the store from losing money on discounts. However, credit cards are still very versatile, especially for internet purchases.