Influence of materialism and money attitudes on credit card use

Abstract

The purpose of the current research was to examine influence of materialism, money attitudes and demographics on credit card behaviour of Indian consumers. Data from 409 respondents was collected across six cities in India through a structured questionnaire. Materialism scale, money attitude scales and credit cards scales were adapted from earlier researches for the research. Materialism, money attitude scale and credit card scales get modified in Indian context. New factors for materialism, money attitudes and credit card use were identified. Indian consumers' credit card use behaviour is influenced by age, materialism and money attitudes. The findings can help credit card companies in positioning and segmenting decisions. They should educate consumers about credit card interest rates, redemption schemes and incentives. Men were represented more than women in sample. Gender influence may prove useful in understanding differences in credit card acquisition behaviour. Sample was collected only from credit card owners. Future research can examine attitudinal differences among credit card users and non-users.