Walton12

What are the advantages and disadvantages of using TechCash over a plain credit card. It seems that credit cards are better because they can be used anywhere...

la montagne

There are some places in the student center that don't accept credit cards. Also, laundry machines (and some vending machines) accept Tech Cash, thus saving you from having to scrounge for quarters. Also, Tech Cash is faster in some situations; you just swipe it, and then you're done. Credit cards confuse the people at LaVerde's occasionally. Also, with credit cards you have the whole receipts thing to deal with; not so with Tech Cash.

k4r3n2

You will want a credit card if you ever decide to venture into the Real World, which I hope you will. I put $50 in TechCash on my card at the beginning of the year to do laundry with. How useful TechCash is to you also depends on where you live - I live in EC so I basically never go to the Student Center, and 7-11 definitely doesn't accept TechCash.

I think TechCash is pretty much useless except for the laundry thing, but if you plan to frequent Verde's it's probably useful.

molliebatmit

As a Real Adult living in the Real World (), I would not encourage you to use a credit card for all purchases in college. I would encourage you to have a credit card and charge about 10-20% of the maximum every month, then pay off the entire balance when the bill comes, but I would not encourage you to use a credit card for everyday expenses. I can talk more about building credit scores when and if anybody cares.

If the decision is between a debit card and Techcash, I am more ambivalent, but I still think Techcash is a better choice because it allows you to more carefully monitor your food purchases. But I lived on West Campus and I like compartmentalizing my spending -- I still put money on my Harvard ID as a grad student, because I like knowing when I've spent $20 on candy bars and soda.

At any rate, there's no reason to commit yourself to one method or another. You might as well try Techcash and try paying for things with a debit card and see which one works better for you.

PiperXP

I use cash, credit, and TechCash. I use TechCash the most for on-campus purchases (and some off-campus - the nearby Au Bon Pain, for example, accepts TechCash). I use credit for online purchasing, mostly, and then cash for when I go to off-campus restaurants. I definitely use TechCash most frequently.

LauraN

I see no reason not to have both. You will definitely have an MIT ID, and you can put any amount of money on your TechCash at any time. Try it and you'll soon find out if you actually use it enough to be worth it. This varies for everyone. People use TechCash all across the spectrum- I know people who use it for absolutely everything and I know people who use it for absolutely nothing. There's really no way to find this out until you get here and figure out your own habits and preferences on campus.

I also certainly recommend getting a credit card. Even if you shouldn't use it for everything, I think it's really useful to get used to having one and learning to be responsible with it.