The left-column story in today's Wall Street Journal describes our move from cash and checks to credit and debit cards. Five years ago 57% of in-store consumer payments were made by cash or check, 22% by credit card, and 21% by debit card. By 2003, 31% were made by debit card (almost a 50% jump in market share). Credit cards accounted for 21% of in-store consumer purchases, about the same as in 1999. Cash and check purchases were down to 47%. (A small percentage were made by undescribed other means in 2003, which is why the 2003 numbers don't add to 100%.)
More telling are the places that now accept credit cards, or even require them. The USS Harry Truman, an aircraft carrier, went cashless this year; the Navy gave a MasterCard to each of its 5,000 sailors. The sailors receive their pay in their MasterCard account and use the card for all their onboard spending, including the Sunday collection at the ship chapel.
Some other fascinating statistics: in 1970, 16% of American households had a credit card; today 73% do. This year 4.9 billion card solicitations will be mailed to American households. (If you don't get one a week, you're not getting your fair share.) And if you spend $20 million with American Express, you can qualify for a suborbital space flight with Russian cosmonauts. I must be slacking; at that rate I've spent only enough to make it to the top of the Fox Tower.