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Credit Card Usage Pattern in Ozamiz City, Philippines

Ringgold P. Atienza

The credit card market in the Philippines is growing and the household sector’s increasing access to it could raise concern over how households might use the credit cards given the negative consequences associated with its misuse. This study examined the credit card usage pattern in Ozamiz City in terms of types of commodities purchased through credit cards and card ownership and determined how this pattern is influenced by the user’s socioeconomic status and attitude towards debt. Survey method was used. The data were analyzed using the independent t-test and Pearson’s correlation coefficient. Results showed that the type of commodities purchased with credit card is influenced by age, gender, marital status, educational attainment and income level but not with the number of dependents and the type of workplace organization. The credit card ownership is influenced by age, marital status, educational attainment and workplace organization but not the gender, number of dependents and income level. Findings also showed that cardholders with the positive attitude towards credit cards were less cautious of their credit card activities; thus, they were more susceptible to riskier activities than those cardholders with the negative attitude towards debt. Overall results showed that the credit card usage pattern varies among different context. Results of this study can help issuing banks for more effective regulation on credit and collection, as well as organizations that promote financial education for consumer protection.

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