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Profiles, Use, and Perceptions of Singapore Multiple Credit Cardholders


  • Lydia L. Gan

    (Division of Economics, School of Humanities and Social Sciences, Nanyang Technological University, Singapore)

  • Ramin C. Maysami

    (School of Business Administration, University of North Carolina at Pembroke, North Carolina, USA)

  • Hian Chye Koh

    (Division of Marketing & International Business, Nanyang Business School, Nanyang Technological University, Singapore)


This study analyzes Singapore’s diverse cardholders in search of variations among demographic groups, credit card profiles, and their perceptions with regards to credit card ownership and use, it then discusses possible reasons governing Singaporeans’ credit card ownership and use. A survey was conducted (n = 636), decision trees were then constructed using Chi-square automatic interaction detection algorithm (CHAID) and SPSS software AnswerTree to examine the association between the number of credit cards (target variable) and the demographic characteristics, perceptions and other credit card related variables. The number of credit cards was found to be significantly influenced by income and gender as well as perceptions that include “credit card leads to overspending”, “savings as payment source”, “unreasonable interest rates”, “credit card as status symbol”. The number of credit cards was also affected by credit card related variables such as missing payments sometimes, frequency of use, entertainment expenditures, and petrol purchase. This research provides an in-depth understanding of Singaporean multiple cardholders, thus it is useful in designing marketing strategies for card-issuers as well as anti-debt strategies for policy-makers in Singapore. Despite the importance of consumer credit, virtually no literature or research exists on the ownership and use of credit cards in Singapore, so this paper intends to close this gap. Further, by combining the demographics, cardholders’ profiles and usage patterns with the respondents’ perceptions concerning credit card ownership and use, our study offers a richer analysis to explain consumer behavior than previous literatures.

Suggested Citation

  • Lydia L. Gan & Ramin C. Maysami & Hian Chye Koh, 2005. "Profiles, Use, and Perceptions of Singapore Multiple Credit Cardholders," Economic Growth Centre Working Paper Series 0513, Nanyang Technological University, School of Social Sciences, Economic Growth Centre.
  • Handle: RePEc:nan:wpaper:0513

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    References listed on IDEAS

    1. Kinsey, Jean, 1981. "Determinants of Credit Card Accounts: An Application of Tobit Analysis," Journal of Consumer Research, Oxford University Press, vol. 8(2), pages 172-182, September.
    2. Carow, Kenneth A. & Staten, Michael E., 1999. "Debit, credit, or cash: survey evidence on gasoline purchases," Journal of Economics and Business, Elsevier, vol. 51(5), pages 409-421, September.
    3. Thomas A. Durkin, "undated". "Credit cards: use and consumer attitudes, 1970-2000," Federal Reserve Bulletin y:2000:i:sep:p:623-634:n:, Board of Governors of the Federal Reserve System (U.S.).
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    More about this item


    Credit card ownership; credit card use; credit revolving; credit debts; decision tree; Singapore;

    JEL classification:

    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation


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