Credit cards held by college students

Document Type

Article

Publication Date

1-1-2005

Abstract

Attitudes toward credit, money beliefs and behavior, and imagined conversations with parents about credit and debt were found to differ between students with credit cards and those without. Credit attitudes, the money attitudes of independence, power, and inadequacy, and the frequency and pleasantness of imagined interactions were shown to distinguish between students with credit cards and those without. All three credit attitudes and the money attitudes of obsession and retention distinguished between students with four or more credit cards and students with one through three credit cards. Ordered logistic regression was used to model students with four or more credit cards. Nine variables were significant: the affective and behavioral credit attitudes, the retention money attitude, the frequency of imagined interactions, age, ethnicity, having had instruction in personal finance, year in college, and whether they had a student loan. ©2005, Association for Financial Counseling and Planning Education. All rights of reproduction in any form reserved.

Publication Source (Journal or Book title)

Journal of Financial Counseling and Planning

First Page

1

Last Page

10

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