Why Americans do not pay off credit card debts

[HoreTore]

In Ukraine a lot of foodstuffs as well as clothes are bought at the markets from kerchiefed babushkas where credit cards are useless stuff and cash is useful. So utility depends on where you are going to utilize the thing in question.

Unless you're talking about a black market operation, these places will have no problems adjusting to a paperfree economy.

Among the latter are credit card frauds and all kinds of crimes with electronic money.

They are still calculated by the insurance companies to be less expensive than the current crimes. Secondly, the banks will guarantee the loss in these cases, not the individual(as they already do, by the way). Thirdly, and most importantly, hacking crimes do not carry with it the threat of physical damage.

Don't have neither the former nor the latter and don't feel any worse. As in one parody movie a sign on a bar said: "No air conditioning and proud of it". While those up the line in a supermarket who pay with a card tend to do it longer then those with cash.

Feel free to live under a stone if you wish.

The rest of us, however, want more efficiency, reduced costs and generally less hassle.