Credit cards replacing money/checks

I've been watching those credit card commercials where everybody was flowing freely and funcitionaly when ever they are making purchaces with credit card but then when someone else was paying with either a check or money every body slows down or go into a complete stop and giving that person dirty looks. Then every thing is all right with the world again.

So I only have this one question.

Are credit cards replacing money/checks as the new currency?

Those commercials are for a new type of credit card that has a computer chip in it. When it gets near a special device the device gets the credit card information and makes the charge. I personally would not own one because if someone has the right sort of device, all they'd have to do is walk near you and they've got your credit card information!

I love regular credit cards though. Credit cards aren't a form of currency so it therefor cannot replace cash. Cash will always be accepted because it is legal tender. Checks are certainly outdated. The only time I use them is when I have to mail in money or give a large amount of money to a friend. I've had a checking account for a few years and I've only written maybe 40 checks in my life.

Credit cards are great though. It makes it easier to keep track of my expenses and I don't have to carry a bunch of cash or my checkbook around with me. I don't use a purse. Instead I keep everything in my wallet in my back pocket. So the smaller I can keep it the better.

If you don't have a credit card by age 18 though, you should get one. You have to start building your credit as soon as possible. If you have no credit or a poor credit history it will be a lot more difficult to get a loan for a car or a house. Also, when you get your first credit card your credit limit is usually something like $500. As you use it and keep paying the payments your credit limit should increase over time. Then by the time you move out of the house and are living on your own with big expenses having a credit card with a large credit limit is essential.

You make very wise sense.

Of course my only problem is that I don't have a credit card because I don't have a job(yet). Besides even I do get one I would maxed out that think in an hour.

My mother, may she rest in peace, hardly ever uses a credit card unless it's for emergancies only. She usually pays cash or checks. Especially when she buys groceries.

My dad uses his credit card when ever he buys things online, mostly gems. Of course he doesn't like to as much because some times theives break in to the computer system and steals credit card numbers for their own selfish purposes.

As for me I use cash when I go out or money orders when I shop on ebay.

I could never be trusted with a credit card.

Credit cards to me are nice and easy, and conveniant, but the perks of habvign credit history also have its downfall of hacking and crashing. You still need to be super carfull what you do with your card number cause anyone can use it.

I'm a little oldfashioned/romantic. I'm still a big fan of coins, notes, and exchange. I don't feel liek I got anyhing or paid anything if its not physically there. I'm very very visual that way

Personally I don't like dealing with Credit cards. I rarely ever carry cash though, always my debit card. You can use them just like credit cards and you don't have to worry about going over the limit. Also, the newer cards aren't nearly that easy to crack, I'm sure there's some crazy encryption on the data transferred with those kind of machines, which probably isn't decoded until it reaches the bank, and I doubt anything that could read it could do so through your pocket/wallet/purse anyway. Soon enough though almost all of the money exchanged will be simply numbers on a computer, it's just far faster and more convenient than cash. At least it'll cut down on paper consumption. =p

The credit card companies want you to think they can replace cash. The point of a credit card is to be able to buy something that you don't have the money for immediately. It's like a small loan from the credit card company, and it has high interest (i.e. they charge you a large percentage for as long as you owe them something).

Yes, you can use a credit card for everyday purchases that you pay back immediately so that you don't have to pay interest. This is a good idea so that you can have a good credit rating -- a permanent record that says you're good at paying back what you owe on time. Sometimes if you're looking to make a big purchase (buying a house or car, or even renting an apartment), the seller will check your credit rating to make sure you'll be responsible about your payments. If you don't have a credit rating at all, you might be turned down. If you're going to use a credit card this way, don't fall for the idea that you can buy things with your credit card that you can't otherwise afford. It's a bad habit to get into.

Debit cards can definitely replace cash. I use my debit card all the time and hardly ever carry money. (The only things I can think of that I need cash for are a couple of stores and restaurants I like that don't take plastic of any sort, and the laundromat.) Just make sure, maybe by keeping a spreadsheet on your computer, that you don't spend more than you actually have (or spend so much that you won't be able to pay rent at the end of the month).