I'm not into credit. I mean, I have a mortgage for my house but that's it. No credit cards and no personal loans. If I can't afford something I go without which is a simple ethos and reasonably easily maintained - Takes discipline. It's just too easy to zip a credit card at 25% interest or use afterpay or some such credit thing and once on that slope it's a downhill ride all the way into credit debt...And more credit spending usually.
You say about paper money being folded and people not liking it...I once ripped a $50 note in half by accident. This was before we had polymer money like we do now. I used clear sticky tape to put it together and all good! Probably wouldn't work up your way. Lol.
Here people get stupid about bills. I read somewhere that in Australia paper money has value if at least 20% of the bill is still holding up. It's maybe just some stuff I don't understand. However, this is only with foreign currency. With local notes, people get creative. I once had a bill with some art on it. I don't remember when I spent it.
Hmm, I'm not sure about that 20% rule to be honest, I'd say it's not true though.
Well, it sounds like a hoax.