It is modernity. For example, 1/3 of Americans are in debt (and have negative money) but I would call them wealthier and better off then the poor in India who have a few rupees in their wallets.
No, this is wrong. The real tragedy is that poor people do have credit cards. The credit card system overwhelmingly favors those at the top -- people who automatically pay off their balances each month and enjoy 30-day interest free loans the rest of the time, versus people at the bottom who have a perpetual negative balance on their cards and who pay exorbitant interest rates that would be illegal in a civilized country.