NEW YORK – If you’re carrying cash in your wallet or purse, you’re now in the minority.
According to the website bankrate.com, nearly half of all Americans carry less than $20 cash. Only 7% carry more than $100.
The website blames the convenience of credit and bank cards and mobile devices for the lack of cash.
Some people say they don’t carry cash, because it’s easier to get a replacement card than reimbursed if they are robbed.
However, bankrate.com’s Chief Financial Officer Greg McBride says don’t expect cash to go away anytime soon.
“A number of bodegas and delis in the New York area: You walk in, you wave your credit card and the first thing you hear is ‘Oh, sorry. We don’t take that.’”