[samjmck]

To me, it sounds more like they have lived a European life, not a sheltered life. Outside of the UK, there aren’t any European countries I know of that use e.g. credit cards on a daily basis. We are taught to avoid taking on debt and are financially risk-averse.

[Olphs]

Credit cards are used in Europe too, but the credit part not so much, most people pay it in full end of month (or whenever their next bill comes)

[subarctic]

Isn't that how most people use their credit cards everywhere, or at least everywhere in the developed world? I thought the 20%+ interest was just a way to take advantage of you if you mess up and rack up too big a bill, or forget to pay your bill.

[dfinninger]

Anecdata, but I know multiple people that I associate with do caray a balance on their cards and by paying minimums. I don’t understand it, but then again I’m fortunate enough to have a software job that allows me to keep up with my social lifestyle without incurring debt.