Credit card literacy among university students

Abstract

The aim of this study is to analyze university students’ credit card knowledge level, learning ways in which they acquire this knowledge and their credit card payment practices. The data was collected by an instrument including Credit Card Knowledge Test (CCKT) developed by the researcher; questions related with the demographic characteristics of the subjects; questions related with credit card payment practices of subjects; and structured interview questions in order to determine learning ways in which subjects acquire knowledge of credit cards. The survey instrument was given to a sample of 95 subjects registered at Boğaziçi University Summer School 2010. Quantitative and qualitative analysis are used in the study. Content analysis was applied to analyze the interviews in order determine participants’ learning experiences related to credit cards. Descriptive statistics were employed to determine participants’ level of credit card knowledge, credit card payment practices and, to analyze whether independent variables of the study have any influence on credit card knowledge of the subjects. As a result, credit card knowledge level of the sample was found to be low. Number of credit cards of the respondents was the only independent variable which showed significant differences in credit card knowledge of the respondents. It was also found that university students acquire knowledge of credit cards by informal learning.