Students and Credit Cards

Paper Summary:

The paper ascertains the attitudes of students relative to credit cards, examining their attitudes towards their perceived convenience, risk and the extra cost of potential transactions. The analysis includes both the students' and their families' income, the frequency of parents' fights over money and credit cards, specifically, and the number of credit cards carried. The paper discusses the conclusions from this research, that shows the marketing of credit cards for college students, both to their parents and to the students themselves, is extremely effective. The paper explains that credit card companies are successfully imparting the messages of control, ego gratification and the rationalization of emergencies.

Outline:
Executive Summary
Research Issue
Methodology
Analysis of Results
Conclusions/Recommendations
Limitations
Appendices

From the Paper:

"Fifty students were given the printed questionnaire and assured complete anonymity and privacy, and also were left alone in classrooms after sessions were over to complete the survey. A $3 Starbucks Card was offered to the first ten students to complete the survey, so that motivation to quickly finish the research instrument would be assured. Graduate-level students were asked to complete the survey during an evening course break. "The sampling focused primarily on business students, with an even mix of women and men in the samples to rule out gender bias in the analysis of the results, a research design advocated by Hair, J.F., Anderson, R.E., Tatham, R.L., & Black, W.C. (1995) in their book."

Sample of Sources Used:

• Hayhoe, Leach, Allen, and Edwards (2005),Credit Cards Held By College Students. 2005, Association for Financial Counseling and Planning Education Journal. Churaman, C. V. (1988). College student use of consumer credit. Proceedings of the American Council on Consumer Interests (Ed. by V. Hampton), pp 107-113. ACCI. Columbia, Mo. Davies, E., & Lea, S. E. G. (1995). Student attitudes to student debt. Journal of Economic Psychology 16, 663-679. Hair, J.F., Anderson, R.E., Tatham, R.L., & Black, W.C. (1995). Multivariate data analysis (4th ed.). Englewood Cliffs, NJ: Prentice Hall.
• Churaman, C. V. (1988). College student use of consumer credit. Proceedings of the American Council on Consumer Interests (Ed. by V. Hampton), pp 107-113. ACCI. Columbia, Mo.
• Davies, E., & Lea, S. E. G. (1995). Student attitudes to student debt. Journal of Economic Psychology 16, 663-679.
• Hair, J.F., Anderson, R.E., Tatham, R.L., & Black, W.C. (1995). Multivariate data analysis (4th ed.). Englewood Cliffs, NJ: Prentice Hall.

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