Nowadays plastic money replacements such as credit and debit cards are extremely popular, even more than banknotes and coins. Discuss the advantages and disadvantages of this. Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Monetary transactions are a constant life part of our life and to do that we either exchange

currancy

Correct your spelling

currency

or swiping our cards. These days opting for credit or debit cards

instead

of actual

money

is increasing popularly,

however

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,

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this

can have both positive and negative implications.

This

essay will discuss that while

this

can be beneficial to the customer and the seller, it does have some limitations as well. Certain advantages

makes

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make

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plastic

money

a preferable choice for people.

This

includes not only the

convienece

Correct your spelling

convenience

of carrying cards

arounds

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around

around as

opposed to

mutiple

Correct your spelling

multiple

notes but

also

there are always added benefits from companies who provide these cards. For most people

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,

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it is difficult to carry large sums of

money

without worrying they

maybe

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may be

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robbed or might lose it, so having to carry just one card makes it easier and less stressful.

Furthermore

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,

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most banks offer additional offers like a discount on fuel, restaurants and even travel tickets.

Therefore

these advantages

makes

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make

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plastic

money

desiarable

Correct your spelling

desirable

for users. 

On the other hand

, there are a few shortcomings associated with debit and credit cards as well. They can be misused if they get into the wrong hands,

moreover

if not

regualted

Correct your spelling

regulated

it can cause

a

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apply

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financial problems to the banks. In 2010 maximum robberies had taken place not through break-ins but

instead

through credit card fraud.

Such

challenges have often

occured

Correct your spelling

occurred

when not using actual banknotes. The debate about currency versus cards for payments will always continue, as there will forever be some

favorable

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favourable

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and

non favorable

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non-favorable

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attributes associated with it.

This

essay discussed both the pros and cons of

such

forms of

money

.