Credit Card Usage Among College Students in China
Yao, R., & Meng, X. (2018). Credit card usage among college students in China. Journal of Financial Counseling and Planning, 29(2), 304-315. http://dx.doi.org/10.1891/1052-3073.29.2.304
12 Pages Posted: 12 May 2021
Date Written: 2018
Abstract
Credit cards have become a common method of payment for college students in China. It is important that they form good credit card usage behaviors and build a good credit history early in their financial life. Using data collected from 10 universities in China, results of this study found that being financially dependent on their parents is negatively associated with Chinese college students’ ability to pay their credit card bills. The study also found that students with a high level of financial knowledge were less likely to take cash advances on their credit card. Implications for financial educators and parents as well as policymakers were provided.
Keywords: cash advance, China, college students, credit card
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