Different Countries And Their Credit Card Usage

Credit cards are used differently all over the world, and this is something interesting to look at. Lessons can be learned from other cultures and how their view of plastic money and spending habits may be able to change or vary. Each country and culture has different points, both good and bad, which can be compared. This use can also show the financial and economical health of a society and it's population. In every day life in a place such as America, it is common to see the plastic card used to pay for different and varied items, from small purchases made in the drugstore, to larger, luxury items such as televisions or computers in electronic stores.

In The U.S.
In the U.S, swiping the plastic for purchases is common, and so many different types of people are using cards. College students, the single, families, the retired, they're all using credit accounts. For the most part, if you don't have a card in your wallet, then you are part of the minority. The average American has $4,236 worth of debt on their card in 2010, and this is spread through out 686 million cards across the country. While Americans may not have the highest amount of debt in this area, it certainly has a much higher level of debt than many other comparable nations, such as France, Germany and China. Alarmingly, the rate of savings, which Americans have, is quite small, with only 4.3% of their income earned going into savings accounts. This may show that many in the U.S. aren't saving for an emergency, preferring to rely on credit cards as a just in case measure.

Europeans' Credit Card Habits
In Europe, however, there's a different view and usage on credit accounts. For example, in France, there are 34 million cards in use, with an average of $267 worth of debt on each card. Germany as well is similar; with an average of $158 of debt per person spread over 4 million cards. The amount of saving put aside by these countries is also much higher, with France saving 16.3% of their annual income, and Germans saving 11.3%. This is a big different when compared to the U.S, and shows a very different set of values inherent in each culture. Many Europeans prefer to save than to spend, and use their savings on big-ticket items, and in every day life to pay for their groceries and other small purchases.

Australians And Their Love Of Plastic Money
In the south of the world, all the way down in Australia, is a mindset more closer to the Americans, with a love of credit cards and using the plastic to make purchases. It is often thought that Americans loved to use their credit, and in years gone by this was very much the case. Times have changed though, and Australians now have more debt on their cards than Americans, with the average Aussie having $7,889 with 16 million cards in circulation. Australians use their cards more for paying bills and utilities, as well as higher priced luxury items.