> If more people carried cash, we might see fewer muggings because anyone with just cards can just call their bank and have them turn off all the cards if they

> If more people carried cash, we might see fewer muggings because anyone with just cards can just call their bank and have them turn off all the cards if they get stolen. I don't think it makes much of a difference. People used to carry cash almost exclusively and muggings still happened with regularity. The difference between now and then is that your cellphone is the first object removed from your person (which will later get fenced at a recycle-your-phone kiosk and shipped overseas), followed by a quick rifling through of your wallet looking for cards. For debit cards, a gun gets thrust in your face, a PIN is demanded (if you aren't abducted and taken to the ATM altogether) and you get pistol whipped while they withdraw $500. It used to be done on a succession of ATMs but I don't know if the FIs impose caps on ATMs withdrawals now. Thieves know cards can be deactivated so they'll make like Bain Capital and load them up with as much debt as possible before busting out. The primary goal is converting your plastic currency (debit or credit) into something that can't be terminated remotely (such as cash or prepaid gift cards) before you have a chance to make those calls.