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Coins going to be replaced by bank note and credit card give reasons?
Wiki User
∙ 14y ago
Because of inflation, coins are worth less and less over time. With the penny now being worth almost nothing, many people would prefer not to bother using it at all. Even a quarter buys hardly anything. The use of credit cards offers a number of advantages over the use of either coins or paper currency. You don't run out of money nearly as easily - even if you actually have no money left, you can still use the credit card to borrow money (up to your credit limit). Credit cards are not as easy to use by thieves, if they are stolen, and even if used, their use can be traced; paper bills in comparison are much harder to trace. New chip technology makes credit cards even more secure. If you never tell anyone your personal identification number, it is unlikely that anyone would ever be able to use your card other than yourself.
Wiki User
∙ 14y ago
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