10 Currency and coins are the old school way to pay, but still a good payment option, especially for making small in-person purchases. The advantage to using cash is a psychological one—people tend to spend less with currency than with plastic (which for many, doesn’t seem like “real money”). The disadvantage of cash is that there’s nothing you can do when it’s lost or stolen, and there’s no online record of your purchases or payments (which is why you want to save receipts for all cash payments). Cash Although less popular these days, checks are still widely used—and they are sometimes the required form of payment. Whenyourentanapartment,youoftenneedtowriteacheckforthesecurity deposit and for each month's rent. Many people simply like paying bills by check, and some smaller retailers prefer checks or cash over credit cards. Personal Checks Debit Credit ATM Card Card Card Can get cash out of ATMs yes yes yes Can use for purchases yes yes no Charges interest no yes no Affects credit rating no yes no Connected to bank account yes no yes Comparing Card Features All of the card options today can make things very confusing. Here is a quick comparison of debit cards, credit cards, and ATM cards.