"R. A. Hettinga" wrote: > > The reason we have ready availability of credit in the first place > > is because consumer debt is the most profitable business in the > > United States. > > I really wonder what component of this market is actually payment > driven. After all, to easily buy *anything* over, say, $100 right > now, you have to borrow money, use a credit card, to do it.
? I use a debit card, one that draws against my bank current account the way a cheque does (probably "check" to you). It's the same card that is used as a cheque card. Lots of purchases over $100. I've bought a miniature video camera with it, maybe 1500 dollars US. Still involves merchant charges of course. As far as they are concerned it is no different from a credit card. The cashier at the till probably doesn't even know the difference (after all it says "Visa" on it).
