Consumer questions: Credit card or cash?

Pay with credit or cash?

Question: I am wondering if there are times when it is better to use cash or better to use credit?

Answer: Often credit. If you're one of those people that when you use a credit card you think it's free money then a credit card is never a good idea. But if you're not in that group then credit cards are best to use when you're doing anything with a company you don't know because you can get a charge back. By law, the credit card company has to look into a claim. Also use a credit card for major purposes. Another good idea is to use a different credit card just for your online shopping. That way you can keep track of it very easily. If you don't get something you want or expect you can call up and get a charge back.

Paying down credit

Question: Is it best to pay down your charge cards, or possibly use your money in another way, if you have a fair amount of credit debt?

Answer: Pay down your credit cards.

The high price of gas

Question: Why is gas so expensive?

Answer: One of the reasons our gas is so expensive is that our dollar is worth so little right now. We're buying gasoline in dollars. Europeans aren't paying much more, but we are because of the weak dollar.

For more of Michael Finney's consumer stories and advice, visit 7 On Your Side.

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