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In going cash-only, you lose access to credit lines, because credit lines require established credit. For a lot of people, a lack of a credit line means they wi

In going cash-only, you lose access to credit lines, because credit lines require established credit. For a lot of people, a lack of a credit line means they will not be able to get a house or car. As a direct result of this, someone interested in building credit will likely get a credit card. Once you get to the point where you have both a credit card and cash the dynamic changes. There are now two ways to play. The lazier of the two ways is with the credit card. No need to go to the bank or ATM to get cash. Humans, as a whole, tend to be lazy. I don't mean this in a negative sense, but in that we tend to be efficient. If there are two options, one of which requires more actions, we're going to prefer the one which requires less actions.

Thlom 8y ago
This sounds very American. No bank I've ever been in contact with have mentioned anything about a "credit line". Whenever I take up a loan the bank will use some third party company to make a credit rating of me, but I don't think it would matter to the credit rating whether I had a line of credit or not. In most of Scandinavia (Europe?), we don't use credit cards day to day. Most have access to a credit card which can be used in a pinch (not recommended ofc) or when buying expensive things or travelling abroad or whatever, but day to day payments is with a debit card for most people.
- Symbiote 8y ago
  > (Europe?) "In 2015, the total credit/delayed debit card base grew by 12.5 million cards to 310.8 million, an increase of 4.2 percent on 2014. There were 0.51 credit cards per capita on average across the E33 countries, although credit cards countries, such as Greece, Ireland, Turkey and the UK accounted for 127.4 million cards, 41.0 percent of the total." They are very popular in the UK; when I lived there I had two. (I had one as a student!) My mum probably has about 5, "this one's for food, this one's for petrol, unless I go to X, then it's this one..." https://www.paymentscardsandmobile.com/payment-cards-europe/ https://www.paymentscardsandmobile.com/payment-cards-europe/

Thlom 8y ago

This sounds very American. No bank I've ever been in contact with have mentioned anything about a "credit line". Whenever I take up a loan the bank will use some third party company to make a credit rating of me, but I don't think it would matter to the credit rating whether I had a line of credit or not. In most of Scandinavia (Europe?), we don't use credit cards day to day. Most have access to a credit card which can be used in a pinch (not recommended ofc) or when buying expensive things or travelling abroad or whatever, but day to day payments is with a debit card for most people.

Symbiote 8y ago
> (Europe?) "In 2015, the total credit/delayed debit card base grew by 12.5 million cards to 310.8 million, an increase of 4.2 percent on 2014. There were 0.51 credit cards per capita on average across the E33 countries, although credit cards countries, such as Greece, Ireland, Turkey and the UK accounted for 127.4 million cards, 41.0 percent of the total." They are very popular in the UK; when I lived there I had two. (I had one as a student!) My mum probably has about 5, "this one's for food, this one's for petrol, unless I go to X, then it's this one..." https://www.paymentscardsandmobile.com/payment-cards-europe/ https://www.paymentscardsandmobile.com/payment-cards-europe/