"Perhaps it's cultural thing."

That is a very good point.

I'm also not considering other economic and political dynamics. Where a nation is economically speaking, fiscal and monetary policy, where they are in the debt cycle, etc... Whether the former and current generation had to go through hard economic times. After the Great Depression in the 1930s in United States, people were very wary of using credit and didn't start really using it until the 1960s.

I should probably be clear that my post are US centric, because the data that I post is US centric. And ask questions about other people's experiences and how they view credit and debt.