Cash or Credit Card

Payments once made/initiated cannot be revoked / stopped; also, the amount of the payment cannot be updated / modified. This can lead to wrong credits to undesired people
• Since the medium is electronic, technical snags in the system may prevent smooth functioning of the same, which may be irritating in urgent situations
• Availability of the required infrastructure (computer, Internet) is essential to bring about such kind of transactions, which cannot be easily available if a person is traveling
• Antisocial elements on the Internet like hackers, phishers, fraudsters, etc may gain access to the system, which can be disastrous to the success of such a system. Security is a key concern for success of online transactions.

Using cash for household necessities requires families to create a budget and follow it. Budgets help track all cash inflows and outflows, which can help all involved to locate potential savings.aying with cash is better because less money is generally spent and no interest is incurred on purchases. Budgeting for expenses can also increase individual productivity, with individuals finding more or better ways to earn cash rather than use debt.

obviously in cash.why should i pay extra as  interest amount?Credit card is being served as emergency purpose.

Interest rates on outstanding is quoted at 3.99% per month against the RBI guidelines which requires the rate be quoted in Annualised rates.

http://www.banknetindia.com/banking/creditcardnov05.htm

b. Card issuers should quote annualized percentage rates (APR) on card products (separately for retail purchase and for cash advance, if different). The method of calculation of APR should be given with a couple of examples for better comprehension.

RBI has given a clear guideline to all credit card companies to provide the interest and late fee calculation example to all card holders. There was no response when I asked my credit card provider to supply me with the sample calculations as per RBI guidelines and I am yet to receive one.

The credit card has the following risks

1. You tend to buy more than what you want

2. Risk of card details being stolen including CVV number

3. For just missing the payment by due date you are levied about 40% interest and another late fee of about Rs 350 (why this is when interest is levied 3 times the bank rate?). Under what laws RBI permits such exhorbitant interest and unreasonable late fees. Sometimes we end up paying 60% penalty for a simple delay on outstanding as low as Rs 1000/-

4. Most people get tempted by a very low payment option instead of full payment and many do not understand once this choice is exercised your account becomes Overdraft account and all current month purchases will also attract 40% interest without any grace period. This is the biggest trap everyone falls without understanding the implications.

i prefer cash, there is so much misuse of credit cards these days and then the other reason behind cash is one would keep a check on his spending, if he has money enough to buy a product which is more than enough for him, but then with the credit card , at times one can't keep a check on his spending and will splurge more than he intended to do, and this will lead to problem in future....

I would like to put light on "what if you lose your credit card?".

You lose what you didn't have. Money.