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Why do you think credit cards are a good thing? They are neither especially popular here in Europe where people are educated and have money. I am 33, M.S., mid-
by anovikov 14y ago
Why do you think credit cards are a good thing? They are neither especially popular here in Europe where people are educated and have money. I am 33, M.S., mid-six figures income, and never had one and don't want it. And never took any other kind of debt, either. I know a lot of people like me. I think Indians are good at their frugality and correctly understand that using a credit card is 'spending money they don't have'.
- npguy 14y agoI was tempted to start the response with "When used wisely" then realized that it would be a huge assumption to make. The article was not trying to state that credit cards are a good thing. The message that I wanted to get across was that a huge growth in credit spending is inevitable given what is happening in India right now, in terms of enabling factors. And that will have global implications.
- roel_v 14y agoHow do you buy stuff online?
- anovikov 14y agoUsing debit cards. Ah wait, my Visa is technically a credit card with a 0 credit limit. So in a way, i have one. But i rarely use it, most time i make do with Visa Electron debit cards.