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Buying behavior, social support and credit card indebtedness of college students
Author(s) -
Wang Jeff,
Xiao Jing J.
Publication year - 2009
Publication title -
international journal of consumer studies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.775
H-Index - 71
eISSN - 1470-6431
pISSN - 1470-6423
DOI - 10.1111/j.1470-6431.2008.00719.x
Subject(s) - credit card , debt , credit card interest , affect (linguistics) , credit history , business , bad debt , credit reference , psychology , financial system , finance , credit risk , payment , communication
This research examines three factors that are associated with college students' credit card indebtedness. Using survey data, we find that college students' buying patterns and social networks affect their credit card indebtedness. Specifically, students with a tendency towards compulsive buying are more likely and those with greater social support are less likely to hold credit card debts. Depth interview data further illustrate the contexts and causes of overusing credit cards as well as solutions for their debt problem. This research sheds light on reasons why college students fall into credit card debt and suggests strategies for helping them use credit cards wisely.