An Analysis Of University Students’ Attitude Towards Credit Cards In Bangladesh

International Journal of Economics and Management Studies

© 2020 by SSRG - IJEMS Journal

Volume 7 Issue 11

Year of Publication : 2020

Authors : Zerin Tasnime, Tanmay Borman

10.14445/23939125/IJEMS-V7I11P114

How to Cite?

Zerin Tasnime, Tanmay Borman, "An Analysis Of University Students’ Attitude Towards Credit Cards In Bangladesh," SSRG International Journal of Economics and Management Studies, vol. 7,  no. 11, pp. 91-99, 2020. Crossref, https://doi.org/10.14445/23939125/IJEMS-V7I11P114

Abstract:

Understanding university students’ attitude towards credit cards is crucial as their earning capability and future potential creates a desired market for credit card companies. The objective of this research was to analyze the attitudes of Bangladeshi university students towards credit cards and to find any possible correlation between demography and attitude of the students. Fifty university students of Bangladesh, 25 of which were accessed online and 25 offline, were interviewed through a self-structured survey, where both demographic and attitudinal data of the students were considered. Data were analyzed using frequency distributions and cross tabulations under Pivot Table Function. The result found that the male students are more aware of credit cards than female students. The dimension of feeling in control and the having their egos gratified as a user of credit card are two of the strongest reasons why students continue to accumulate credit cards. Results also revealed that students feel more in control when they have more balance in credit cards. However, the students perceive credit cards as costly yet as a social necessity due to its spending convenience and status symbolization. Students from different areas acknowledged the necessity and showed enthusiasm in seeking financial knowledge in order to make better purchase decisions.

Keywords:

Credit Cards, Financial Education, Spending Convenience, Students ‘Attitude, Bangladesh.

References:

[1] Arias J.C., Miller R, Market Analysis of Student’s Attitudes about Credit Cards, Business Intelligence Journal. 3(2010) 23-36.
[2] Davies, E., & Lea, S. E. G. - Student attitudes to student debt, Journal of Economic Psychology. 16(4) (1995) 663-679.
[3] Feinberg, R.A. - Credit cards as spending facilitating stimuli: a conditioning interpretation, Journal of Consumer Research. 13(3) (1986) 348-356. http://dx.doi.org/10.1086/209074.
[4] Hayhoe, Celia & Leach, Lauren & Allen, Myria & Edwards, Renee. - Credit Cards Held by College Students, Association for Financial Counseling and Planning Education. 16 (2005).
[5] Hayhoe, C. R., Leach, L., & Turner, P. R. Discriminating the number of credit cards held by college students using credit and money attitudes, Journal of Economic Psychology. 20 (1999). 643-656. doi: 10.1016/S0167-4870(99)00028-8.
[6] Karvonen, K. - The Beauty of Simplicity, in Proc. ACM Conference on Universal Usability, Arlington, VA, 2000, The Association of Computing Machinery. [online] Available at: http://www.journals.elsevier.com/.
[7] Worldbank.org, Bangladesh Data. [online] Available: http://data.worldbank.org/country/bangladesh (2016).
[8] Y. D. Wang & H. H. Emurian. - An overview of online trust: Concept, Elements and Implications. Computers in Human Behavior 21 (2004) 105–125, ISD, CIET USA. [online] Available: https://www.researchgate.net/.
[9] Livingstone, S.M. and Lunt, P.K. - Predicting personal debt and debt repayment: psychological, social and economic determinants. Journal of Economic Psychology. 13(1) (1992) 11-134. Available: http://dx.doi.org/10.1016/0167-4870(92)90055-C
[10] Wiggins, O. Calling on gospel to call off debt. Washington: Washington Post. (2008) [online] Available: https://www.washingtonpost.com/wp-dyn/content/article/2008/07/19/AR2008071901733.html.
[11] Warwick, Jacquelyn, and Phylis Mansfield. - Credit Card Consumers: College Students’ Knowledge and Attitude, Journal of Consumer Marketing, 17(7) (2000) 617–626, doi:10.1108/07363760010357813.
[12] Xiao, J. J., Noring, F. E., & Anderson, J. G. College students' attitudes towards credit cards, Journal of Consumer Studies and Home Economics. 19(2) (1995) 155-174. doi:10.1111/j.1470-6431.1995.tb00540.x.
[13] Yang, Bijou, and David Lester. Attitudes Toward Buying Online, CyberPsychology & Behavior. 7(1) (2004) 85–91. doi:10.1089/109493104322820156.
[14] the businessdictionary.com. website. (2010) [Online]. Available: http://positivepowerstrategies.blogspot.com/2010/07/promoting-health-wealth-four-components.html
[15] Joseph F Hair, Jr. - Multivariate data analysis with readings, 4th ed., Englewood Cliffs, N.J. : Prentice Hall, 1995.