Debit Mastercard: Better Than Cash?

(Don't you think these cards just look enticing to make you go out and shop further?)

It was not too long ago in Malaysia that Visa had a huge marketing campaign promoting the usage of Visa Debit cards...

But with Visa in the money-making game, it is a given that Mastercard will not want to lose out in getting a part of the lucrative pie which is "money". Even Debit Mastercard would not be able to escape the money driven race.

Granted, I am quite happy to know that Maybank has a version of the Debit Mastercard.

Though, I have yet to convert my yellow ATM e-debit Maybankard to either Visa, or Mastercard Debit. That makes almost all my cards coming completely from one bank, except for the one Citibank Debit Visa that I have.

I would agree with the "no more ATM queues and no more hassle with everyday purchases, no more losing track of your expenditure. ".

However, I really disagree with the tagline "Better Than Cash". They should not be allowed to trademark it.

When one does not possess a Credit Card, other people (who are in the money-making business) would not be able to tempt us to buy items based on a credit facility.

I have been to beauty salons carrying just cash, and a single debit card, knowing that no matter what does sales people do or say, they can't make me buy anything I do not want.

Indeed the credit card is a "credit facility" used when we are tempted to pay for an item we desire based on the "buy now, pay later" philosophy. Spending our future money.

How could Debit Mastercard be better than cash?

Merchants utilize the EPP (Easy Payment Plan) to make paying for a product or services look attractive. Perhaps "that" is the "enticing bait". Preferably, though so, I must admit that the credit card is a useful credit facility, as it provides 30 up to 55 days interest free loan, and when we pay before it is due.

I would use a credit card to buy goods with high-risk factor. (i.e a company retailing a product that may go bankrupt, buying from online malls, E-Bay, and airline tickets).

Utilized wisely, I would be able to buy that nice facial treatment package from Sothys or Clarins amounting to RM600 in two instalments. Hopefully by the time the second instalment comes around, I'd have enough money to pay for it...

But cash is good when I am thinking of getting goods with a Heavy Cash Discount. Yes, everything is negotiable when the price is high, and the payment method used is Hard Cold Cash.

I really love it.

Entry dated: 7th Nov 09