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Author: AbhayShah One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308232  
Subject: Can Visa/MC/Amex break the Asian culture? Date: 3/27/1998 4:50 PM
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I'm just curious about this. As you may or may not know, Asians generally have a hard time with credit. They quite simply don't like it. Being a first generation American, I can see this myself. If my folks want to buy something, they will save money for it, then buy it all in cash. It is quite cheaper to buy with cash, considering paperwork etc. but the sacrifice you make before purchasing is tremendous.

Being Indian, I thought this was only true with Indians ,but I had a college professor who was engaged with a Taiwaneese, and he said basically the same thing.

Now, given the fact that America is almost at the point of saturation with credit cards, these companies are now tapping into the Asian markets. I know in India credit cards have been around for maybe 5-7 years. I don't know how successful they are there, but I'm curious, do you think credit card companies have to potential to corrupt Asians as bad as they have to Americans? A friend of mine told me credit was a sin in Europe until about the 14th century. I know for a fact that charging interest is a sin in the Muslim religion.

What are you thoughts?
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