By Mikey Rox
With Kelsa Dickey
Read on Wisebread.com

Paying with debit or credit cards is fast, convenient, and easy. Despite the arguments for debit and credit cards, however — some of which are totally valid — there are instances when cash is the better option. What are they?  Here are the 6 of them but check out the full article for all the details, most importantly the WHY! The article even suggest one time you SHOULD use debit or credit so read the article to find out!

avoid using credit cards1. When the Impulse-Buying Pang Hits:

This one is so accurate! I’m quoted as saying:

“If you use a credit card for day-to-day spending, it’s very easy to not pay attention to how much is going on there and accidentally overspend,” she says. “I would avoid using credit cards in those situations. If you ever get your bill at the end of the month and you kind of gasp when you see the total, I’m looking at you!”

2. When Making Major Purchases Like a Car

“The downside to this logic, however, is that the massive sum of a major purchase also comes with equally sizable interest and late fees.”

3. When Dealing With Cash-Equivalent Transactions

“No one should be using a credit card to pay for lottery tickets, gambling chips, cashiers checks, or anything that might be flagged as a ‘cash equivalent transaction,'” one expert says. “Banks categorize these purchases as cash advances, which means higher than normal interest rates, and extra fees come attached.”

4. When You Have the Opportunity to Haggle

“When visiting yard sales, flea markets, farmers’ markets, and other mom-and-pop-type setups, using cash can work to your advantage.”

5. When You’re Trying to Help the ‘Little Guy’

“It you like shopping local or otherwise want to help the little guys — i.e. the service industry or anybody who works for tips — your best bet is to do it with cash.”

6. When You Know You Can’t Afford It Right Now

“A lot of people believe that credit cards, especially, are for the sole purpose of making purchases that you can’t otherwise afford, like when you have little to no discretionary funds. That’s a flawed logic.”