Credit Cards Across Cultures - Tangible Development, LLC
Credit Cards Across Cultures

Credit Cards Across Cultures

Financial habits vary across culture in more than just currency. Credit card usage habits are also important factors that affect financial industry leaders’ relationships with diverse clients and their success in different parts of the world. In the United States credit cards are offered by a myriad of financial institutions, commonly used, and widely accepted. In fact, one may be surprised when they encounter a business in the US that does not accept credit and/or debit cards. However, it is important financial institutions recognize that diverse clients utilize credit differently and market their suite of products as culturally appropriate as possible in order to maximize customer satisfaction and increase revenue.

South Korea

Similar to the United States, there are a number of credit card options in South Korea. The process of getting a credit card is complex and competitive, yet the average adult has nearly five credit cards. Typically, the credit card balance is automatically deducted from the holder’s bank account; however, the individual can opt to pay in installments but may lose out on some of the perks, such as airline miles.


Credit card use in China is extremely limited. Only 2% of merchants are equipped to handle credit card transactions, which is astonishing when you recognize that, as of 2011, 60% of transactions in the US were made using a credit or debit card. Those who have credit cards in China can typically be found in large urban settings where branch locations are convenient to pay outstanding balances.


Credit card usage in India is similar to that in the US. Credit cards are widely used and commonly accepted. This is greatly attributed to the influx of Millennials in workplace demanding the ease of plastic card transactions.

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