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Methods of payment by Mind Map: Methods of payment

1. CASH

1.1. Benefits

1.1.1. Widely accepted

1.1.2. Tangibility

1.1.3. Freedom from debt

1.1.4. No interest or fees

1.1.5. Safety

1.2. Drawbacks

1.2.1. no theft protection

1.2.2. hard to track

1.2.3. no shopping online

1.3. WHEN to use

2. CARD

2.1. Benefits

2.1.1. Large purchases

2.1.2. Rewards (credit score)

2.1.3. Safety

2.1.3.1. Expense tracking

2.2. Drawbacks

2.2.1. tendency to spend more with credit

2.2.2. apply for credit

2.2.3. high fees and interest rates

2.3. WHEN to use