> The main difference between credit cards in Europe and in the US is that poor people can't get them here. Nah, really the main difference is that the EU caps

> The main difference between credit cards in Europe and in the US is that poor people can't get them here. Nah, really the main difference is that the EU caps interchange (paid ultimately by the merchant) at 0.3%, whereas it can be upwards of 3% in the US for high-end cards. Without big interchange earnings, there's little reason for issuers to push credit cards, and they're less attractive to consumers (interchange pays for 'reward' schemes).