Credit Card Usage Pattern: A Lifestyle Facilitator

Abstract ―​

This study aims to characterize Philippine credit card users and make the data accessible to the public. The socio-economic profile of credit cardholders Age, Sex, Marital status, Highest educational attainment, Workplace organization, Socioeconomic status, and the number of dependents is all included and compared to their credit card usage behavior by the researchers. Four usage indicators that were based on earlier studies were used to identify the credit card usage pattern. The researchers surveyed 360 Taguig City residents who have credit cards using the purposive sample method. These cardholders, whose range in age from 18 to 46, are aware of how to responsibly use their cards. The association between credit card usage pattern and socioeconomic profile of credit card holders was then described and tested using statistical treatment methods such descriptive analysis, frequency distribution, mode, Kruskal Wallis, Mann-Whitney, Pearson Chi square, and Cramer's V. The results of this research demonstrated that there were only minimal correlations between the socio demographic profile variables of sex and workplace organization and credit card usage. Yet there isn't much of a connection between socioeconomic status. There exists a strong degree of correlation between the following variables: credit card usage patterns, number of dependents, highest educational attainment, and marital status. This shows that there is a high correlation between credit-building and having one or two dependents, being single, and having at least a bachelor's degree. Those who use credit cards now or in the future can benefit from the suggestions made by this research for financing planning.