Account: 844-924-3009


Apply Today: 844-450-0221


General: 800-472-1334

Okinus Site Map

Credit vs. Cash: Which Should You Use?

Online business fintech concept.

The cash vs. credit debate is one that has been going on for decades. While it seems like a simple issue, many people find themselves confused about whether they should pay with plastic or with cold hard cash. There are a lot of factors to consider when deciding which payment method to use, such as your income and lifestyle. Before you make this important decision, let’s take a look at the benefits of each type of transaction:

Benefits of Credit

When it comes to the benefits of credit cards, there are a few key reasons why they’re worth using. They can be an effective way to build a credit score, which is important if you want to take out loans later on in life.

Credit cards also help protect against fraud because they have fraud protection measures in place (for example, if anyone charges your card without your permission or steals your information).

Finally, some rewards programs offer incentives for using a particular brand of credit card—so if you prefer one brand over the other and want that discount or bonus perk, then it may make sense to use their branded card in order to get it.

Benefits of Cash

The main benefit of cash is that it’s an anonymous way to buy things. If you want to pay for something without your name on it, or if you don’t want a paper trail of your spending habits, cash is your best bet. It also makes spending money easy because you can put cash directly into your pocket instead of having to make sure you have enough credit on a card or bank account before making purchases.

Another benefit of using cash over credit cards is avoiding interest rates. Credit card companies charge interest (usually between 12% and 20%) on unpaid balances, which can add up quickly if you’re not careful about paying off what you owe every month.

Choose Based on Your Lifestyle

Let’s say you have an upcoming vacation. You could pay cash for everything, but then you’d have to carry around a lot of money and deal with losing it or getting robbed. Or, you could charge all your purchases to credit cards and get some air miles—but then there’s the interest rate to consider. What should you do? A good rule of thumb is: to choose what works best at the moment! In this case, because it’s just one big trip with no recurring expenses or regular payments, accruing points by using credit might be worth it even though it would mean paying some interest on those charges when they come due.

If you are someone who doesn’t want to keep track of their balance and prefers the flexibility of cash, then credit cards may not be right for you. On the other hand, if you enjoy getting points or rewards from using your card every day at no cost then going that route could save some money in the long run!

At Okinus Credit Solutions, we offer lease-purchase options to provide people and families with quick and easy answers to their problems. From home furnishing to jewelry, we can help you with what you need. To learn more, get in touch!

Important Notice:

Our payment website has been updated. Please register again to continue using the payment website. We apologize for any inconvenience.


Click Here

This will close in 0 seconds