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Factors Related to Credit Card Users on Basis of Method of Repayment
Author(s) -
Ethridge Veree
Publication year - 1982
Publication title -
home economics research journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.372
H-Index - 31
eISSN - 1552-3934
pISSN - 0046-7774
DOI - 10.1177/1077727x8201000309
Subject(s) - credit card , socioeconomic status , service (business) , business , key (lock) , linear discriminant analysis , survey data collection , actuarial science , marketing , advertising , finance , computer science , payment , statistics , mathematics , computer security , demography , population , sociology
Using multiple discriminant analysis to analyze survey data on 875 nuclear families from the 1977 Consumer Credit Survey conducted by the Survey Research Center, four socioeconomic and four attitudinal variables were indicated as key predictors of installment users of credit cards. Installment users were found to be more likely to have lower incomes, have a higher number of children under 18 present, and be other than Caucasian, and the husband employed as a farmer, laborer, or service worker rather than in a managerial occupation. In regard to attitudinal variables, installment users were found to be more likely to hold more positive attitudes toward borrowing to finance hobbies and furniture, and to hold a more positive attitude toward installment buying in general. In addition, installment users were more likely to feel it is difficult to save ahead to buy consumer durables.