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Comparison of Payment Options

Cash, ATM cards, check cards, debit cards, credit cards, checks... kind of confusing. Maybe this can help you better understand payment options.

Option	Pros	Cons
Cash	Accepted almost everywhere	Increases impulse spending No protection if lost or stolen May not work outside of the United States Personal danger No record of purchase on your account
Checks	Has carbon record of purchases and check register to quickly see how much money is left in account May help reduce impulse spending Courtesy Pay protection* Optional overdraft protection	Slower transactions Not accepted at many merchants Limited fraud protection Displays your account and bank routing number
Debit (or Checking) Card	Accepted almost everywhere Fraud protection when you sign rather than giving a PIN number** Courtesy Pay protection* Optional overdraft protection Easy to cancel and replace if lost	No immediate register (but record is maintained in your online account) Convenience may increase impulse spending Not accepted for certain travel needs like rental cars
Credit Card	Convenient and accepted almost everywhere Immediate access to funds up to credit limit Fraud protection Provides income to the credit union at no cost to you*** Easy to cancel and replace if lost	Temptation to spend money you haven't earned (i.e. to credit limit) No immediate register (but record is maintained in your online account) Convenience may increase impulse spending
ATM Card	Most people now use checking cards to access ATMs