What are the merits and demerits of plastic money?


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Lynn Blakeman Profile
Lynn Blakeman answered
Credit and debit cards have changed the way we live. They help immensely, and many people couldn't imagine being without them. However, as with most things there are good points and bad, some of these are listed below.


  • No need to carry a large amount of cash which would be unsafe.
  • Theft is not quite such a huge problem as cards can be reported missing quite quickly and therefore can't be used.
  • Cards can be used in millions of places worldwide.
  • Cards can be used on the internet for online shopping.
  • Credit cards offer a way to buy now and pay later although interest is high unless you pay as soon as the bill is received.


  • There are places that cards can't be used such as small retailers, paying the milkman, etc.
  • In some cases, service charges can apply when using cards
  • It's sometimes 'too easy' to use a card, handing over cash is more 'painful' in a way. If I hand over my debit card it's the same whether the purchase is $5 or $5000, whereas handing over huge amounts of cash would make me think twice before buying.
  • It is easy to get into debt with credit cards

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