Comment Re:Eeeehhhhhh - meanwhile in Europe... (Score 1) 251
Points a) and b) are not as prevalent as you'd think - Americans don't all 'live on credit'. You do see a lot of card-based transactions, but they're either debit transactions or credit transactions of convenience. I'm not sure what the UK equivalent is, but funds I spend via my debit card (looks just like a credit card; even has Visa on it) come directly from my bank account linked to that card. It's like a card-based check (cheque to you). Debit card volume in the US exceeds credit card usage.
The other thing you see is people using their credit card to make purchases to get 'points' or other rewards. Personally I don't bother with that, since the CC companies are betting that you'll 1) forget to pay off your balance on time, 2) let the points expire, or 3) earn fewer points than the yearly cost of the card. I only have CC's with no annual fee, and I don't have time to bother with balance-juggling.