...Because it is a wallet. And that's what I love about it. When I'm out and about shopping and exploring, I don't want to haul a big bag around with me. I can stick this in a larger bag the way I would a wallet, and then pull it out and toss it over my head when I want to go into the stores or walk around downtown, etc. I do have trouble fitting my cell phone into it- it JUST squeezes in. But my phone is larger than I'd prefer, so I don't really blame the bag. Otherwise, this purse has served me excellently for years now. I happened to luck out and find it, brand new, in a thrift shop - I know that as soon as it's time to replace it, I'll be doing so at full price, because it's well worth it. Also it does a rad trick where if you extend the strap long enough, you can put it around your back and then over your head to create an impromptu backpack- or super shorten the strap and use it as a fanny pack. (Or remove it entirely and it's a wallet again.) Very versatile.