Is the use of credit cards a strong indicator of a nation's economy?

[horrifiedx1]

The advanced world is adopting cashless society and that is the messages of digitalization because no body like to go with cash any longer. Cashless society is the secondary form of financial transactions because with it comes all other digital currency and blockchain technology introduced cryptocurrency and as the digital bank.

Yes transactions in form of credit cards can be differ from the "cashless" society that's on your mind. I can't explain it well but taking example of debit cards and cryptocurrencies.

You're not in debt when you use these unlike what OP asks for the use of credit cards as an indicator of the status of an economy.

during the use of debit cards for productive activities, I think this can improve one's economy. although not in debt, but using it must be wise, so that our good name in the bank is maintained. thus a symbiosis of mutualism will be established between us and can bring our thoughts to be ready to face the modern world by using it

[1714922909]

1714922909

[1714922909]

1714922909

[boyptc]

The advanced world is adopting cashless society and that is the messages of digitalization because no body like to go with cash any longer. Cashless society is the secondary form of financial transactions because with it comes all other digital currency and blockchain technology introduced cryptocurrency and as the digital bank.

Yes transactions in form of credit cards can be differ from the "cashless" society that's on your mind. I can't explain it well but taking example of debit cards and cryptocurrencies.

You're not in debt when you use these unlike what OP asks for the use of credit cards as an indicator of the status of an economy.

during the use of debit cards for productive activities, I think this can improve one's economy. although not in debt, but using it must be wise, so that our good name in the bank is maintained. thus a symbiosis of mutualism will be established between us and can bring our thoughts to be ready to face the modern world by using it

Good credit standing would matter to the bank.

They don't care on how much you spend, as long as you maintain your balance or pay your debt that's what matters to them. As for the improvement of the economy, its not enough to think that it can contribute big for it.

[jademaxsuy]

No. I think all of the country has credit cards. This is an option not totally a compulsory to have a credit card. As we all.know that credit card is handy and has advantage than bringing fiat money to which it could make your wallet or pockey bulky if you will be bringing a lot of money. This is why it is a good practice to use credit cards in making a transaction but still it has disadvantage when an establishement does not support or accept credit card so have tp bring fiat money for it.