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Is cash safer than a credit card

Some say cash is king while others are of the opinion that it is just a matter of time before cash becomes obsolete.

There's no doubt that we are using credit cards more these days to pay for everyday items like fuel and food. With the convenience of internet shopping and the security a credit card offers, consumers are becoming more comfortable paying with plastic than in cold hard cash.

If your cash is stolen...

One of the reasons for this is the security of paying by credit card. If your cash is stolen, you can pretty much forget you ever had it. Whereas if your card is stolen, you can cancel the card immediately before any fraudulent purchases are made. Plus, credit card companies have increasingly sophisticated safeguards in place to protect you in the event of unauthorised use.

Why paying with plastic is safer

  • Credit cards offer a fast and convenient way to shop. You can also keep track of your spending by checking your monthly statement.
  • Carrying large around large amounts of cash can be nerve wracking. With a credit card, you can pay for expensive items safely and securely.
  • Strict security measures are in place when you make a purchase. Plus you have the back-up of your bank if you need to dispute a purchase.
  • If your card is lost or stolen, you can put a hold on your account immediately. You are also able to reclaim any fraudulent purchases. If you lose cash, it is gone forever.