Cash is always better than credit in Bali. But if you take cash, make sure you don't show your money around, especially with big denominations. It might attract the wrong crowds if you know what I mean. Try to get two wallets, one for big denominations where you will use to spend on something bigger, like day tours, scuba diving, etc, and another wallet is where you put smaller denominations where you pay for food on street stalls, beers, etc.. etc.
The bottom line is, you can't be too careful when you are in Bali. They are friendly, but among them, thieves do exist.
Have fun
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Bali Wanders
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