What Is Plastic Money?

Plastic money is a term that is used predominantly in reference to the hard plastic cards we use everyday in place of actual bank notes. They can come in many different forms such as cash cards, credit cards, debit cards, pre-paid cash cards and store cards.

Cash Cards - A card that will allow you to withdraw money directly from your bank via an Authorised Teller Machine (ATM) but it will not allow the holder to purchase anything directly with it.

Credit Cards - Again this card will permit the card holder to withdraw cash from an ATM, and a credit card will allow the user to purchase goods and services directly, but unlike a Cash Card the money is basically a high interest loan to the card holder, although the card holder can avoid any interest charges by paying the balance off in full each month.

Debit Cards - This type of card will directly debit money from your bank account, and can directly be used to purchase goods and services. While there is no official credit facility with debit cards per se, as it is linked to the bank account the limit is the limit of what is in the account, for instance if an overdraft facility is available then the limit will be the extent of the overdraft.

Pre-paid Cash Cards - As the name suggests the user will add credit to the card themselves, and will not exceed that amount. These are usually re-useable in that they can be 'topped up' however some cards, usually marketed as Gift Cards are not re-useable and once the credit has been spent they are disposed of.

Store Cards - These are similar in concept to the Credit Card model, in that the idea is to purchase something in store and be billed for it at the end of the month. These cards can be charged at a very high interest rate and can are limited in the places they can be used, sometimes as far as only the store brand that issued it.

Plastic money are the alternative to the cash or the standard 'money'. Plastic money is used to refer to the credit cards or the debit cards that we use to make purchases in our everyday life.  Plastic money is much more convenient to carry around as you do not have to carry a huge some of money with you. It is also much safer to carry it along or to travel with it as if it is stolen one can consult the bank whose service you are using and get it blocked hence saving your money from getting stolen or even lost.
Nowadays even developing countries like India are encouraging the use of these plastic money more than cash due to these reasons. Furtermore these credit and debit cards also have plastic used in their making and that is where the name 'platic money' has originated from.

The term "plastic money" can refer to plastic credit cards, debit cards and EFTPOS cards, and in many countries, this is the only common meaning, but in some countries, it can refers to the banknotes (notes or bills) that are made out of a type of plastic that is is floppy and easy to bend, like paper, but it is waterproof, and difficult to tear.

Plastic money is the generic term for all types of bank cards, credit cards, debit cards, smart cards, etc. They are the alternative to the cash or the standard 'money'. Plastic money is used to refer to the credit cards or the debit cards that we use to make purchases in our everyday life.

Riddhima Ambavle.

In my opinion plastic money is a money that is in form of credit card or debit card that  we use to shop anything,anywhere.

I agree with the answer credit card for being the subject spoken of  as plastic money.

All type of bank cards, credit cards, debit cards, smart card etc

credit cards debit card ,etc

There is various type plastic money in floating. For instance Debit card, credit cards, membership cards etc.

Current time the people are now using debit cards, credit cards more than paper money. These types of money come under plastic money.

When some on says "plastic money" they are referring to a credit card.