The Effects of Credit Attitude and Socioeconomic Factors on Credit Card and Installment Debt

Journal of Consumer Affairs - Tập 35 Số 1 - Trang 162-179 - 2001
Yi-Wen Chien1, Sharon A. DeVaney1
1Yi‐Wen Chien is Doctoral Candidate and Sharon A. DeVaney is Associate Professor, Department of Consumer Sciences and Retailing, Purdue University, West Lafayette, IN.

Tóm tắt

Most previous research on credit use has examined the effect of socioeconomic and attitude variables without considering the possible correlation among these factors. Also, the studies have not considered whether there is a difference between general and specific attitudes toward credit and the use of credit. This study addresses those problems and includes installment debt as well as credit card debt in the analysis. The study used data from the 1998 Survey of Consumer Finances. The findings show the higher the specific attitude index, the higher the outstanding credit card balances, and the more favorable the general attitude toward using credit, the higher the installment debt. The results suggest the need for greater awareness on the part of consumers and consumer educators on the influence of attitude in the use of credit.

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Thông tin
Thông tin xuất bản

Journal of Consumer Affairs

Tập 35 Số 1

162-179

Thông tin tác giả