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Technology Stocks : Audio and Radio on the Internet- NAVR
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To: shane hartman who wrote (2384)12/15/1998 8:46:00 AM
From: Lynn  Read Replies (2) of 27722
 
Shane, this probably does not apply to the cultural preference for checks where you are in Texas, but I have noticed a lot of people writing checks at an ethnic (Portugese) market I occasionally go to for Portugese sweet bread. Last year I asked the grounds person assigned to my department [himself Portugese] about this. I was told Portugese pay cash or write checks, no credit cards, so they can maintain strict control over their spending.

Most Portugese here are immigrants or first generation, **extremely** hard working, and big savers. After a few years here in the States, it is not unusual for a Portugese couple to have purchased a duplex and be saving for their second [from low paying job]. They don't like credit cards.

A number of other newer ethnic groups also scorn credit cards because they have not picked-up the 'American' instant gratification, pay later mentality credit cards offer. Again, credit cards are considered dangerous compared to cash or checks.

Our country is a history of one stream after another of immigrants. This is one large block of people its going to take a while to use credit cards.

Basically, there are a lot of people in the country who do not use credit cards because of choice rather than poverty or financial problems resulting from credit card abuse. This is not going to change. Internet shopping, which requires a credit card, is not going to be attractive to these groups, even if people have internet access.

Lynn
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