A credit card can be your best friend when you need to buy a shiny new object that you really can’t afford, or your worst enemy when you’ve surpassed your credit limit and your bank is trying to rip you off as punishment.
Love them or hate them, credit cards have become a permanent fixture on the financial landscape of most developed countries. Yet we often take them for granted and rarely consider how we feel about them and why.
This article looks at countries from both the developed and developing world, and the differences in how credit cards are used and viewed. We discover why Americans love their flexible friends, why the Japanese are really not interested in paying with plastic, and why India has witnessed such a backlash against the spread of credit.