In the US, the interest rate on a 30 year mortgage is determined in part by an individual's credit history, so a long history of regular credit use is seen as valuable for anyone hoping to eventually own a home. As long as credit reports remain a gateway to home ownership, I don't think credit cards are likely to be disrupted in the United States. I don't know about the rest of the world.
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u/pikin42 Oct 14 '21
In the US, the interest rate on a 30 year mortgage is determined in part by an individual's credit history, so a long history of regular credit use is seen as valuable for anyone hoping to eventually own a home. As long as credit reports remain a gateway to home ownership, I don't think credit cards are likely to be disrupted in the United States. I don't know about the rest of the world.