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The difference between Cash and Credit - Coggle Diagram
The difference between
Cash and Credit
Accepted in
all public places
You have to spend
more money because You can't find
small change in some places
We cannot carry large
amounts of money with us
Can carry bacterias with it
When we pay by Cash such
incentives and rewards
don't exist
Risk of overspending.
Lower Risk, as You can only spend
what You physically have
if lost or stolen, Usually,
You can't find again
Useful in emergencies
When electronic systems are
down or When access to Credit is limited
Cash in this case requires some
steps like changing money
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There is a possibility that
it will not be in some places
There will be no problem
with small cashes, for example
withdrawal
One Credit card can hold
more than a trillion dollars
Fully complies with
hygiene regulations
When we pay by Credit card,
we get a certain amount of
cashback
higher Risk, since The ability
to borrow might lead
to overspending and left
if lost or stolen,
Credit cards offer fraud protection
and can be cancelled
Helpful in emergencies also that
transfer large amounts of money
in a short period of time
In international use, if we want
to buy something from abroad,
we need a Credit card
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