The topic of credit card misuse among college students has become a significant concern as our nation reexamines financial discipline in the current economic downturn. This study explores students’ current credit card usage status and evaluates credit card misuse among college students in relation to their attitude towards risk and materialism. Other areas examined include marketing strategies implemented by credit card vendors and how they affect usage behavior. Based on prior research, proven and reliable theoretical scales were employed to survey a random sample of 335 college students across 16 states. Results indicated that significant relationships exist between a student’s credit card misuse, their materialistic values, and their risk attitude. Our research makes academic contributions in refining, integrating, and using theoretical scales in an empirical context. In practical terms, the findings of this study have implications not just for students in college, college administrators, and credit card marketers, but also for those engaged at the crosscurrents of marketing, social responsibility, and public policy.
Raj Devasagayam (Fri,) studied this question.