At 11:05 AM 05/03/94 -0700, Eric Hughes wrote:

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About 20% of the US population has neither credit cards nor checking accounts. Some of this is because of personal preference but a lot of it is because these people can't handle something as abstract as a checking account without wrecking it.

A significant part of this is that banks have simply moved out of a lot of neighboorhoods, and checking accounts are simply not easily available. Many people grow up without interaction with the banking system, and therefore don't get electronified.

And another big reson is that on a low income it doesn't make any sense to use a bank, let alone credit cards. Been there myself- If I have to worry whether there is anough money in the account to not go negative when the monthly fee comes around, why not pay bills by postal money order and save what little cash one can, instead of handing it to the banks? Opps. Not crypto. Sorry. -j

Eric