Lydia L. Gan (Division of Economics,School of Humanities and Social Sciences, Nanyang Technological University, Singapore) Ramin Cooper Maysami (Department of Economics and Finance, School of Business Administration, University of North Carolina at Pembroke, North Carolina, USA)
Abstract
This study used factor analysis to examine credit card selection criteria among Singaporeans. The results showed that convenience of use and protection, economics, and flexibility were the main drivers, while the reputation of card was the least important in determining credit card selection in Singapore. Demographic results showed that high-income earners, the better educated, the elderly, married and the professional preferred the convenience-protection factor to the economic-promotional factor. Females were shown to value the promotional factor more, while males preferred the economic factor. The ethnic Malays placed a greater emphasis on the economic factor than did the ethnic Chinese. The results also showed that the number of credit card owned in Singapore is positively related to education, income, age group, and marital status. Those holding a single credit card stressed the economic factor more than those holding many cards. In Singapore, the higher income earners, the better educated, older adults, females, married, and both Chinese and Indians are more receptive to paying their monthly credit card balances in full. The results demonstrated that Singaporeans do not view the credit card selection criteria much differently from respondents from other developing and advanced nations.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by Nanyang Technolgical University, School of Humanities and Social Sciences, Economic Growth centre in its series Economic Growth centre Working Paper Series with number
0610.
Find related papers by JEL classification: G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.: