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Does knowing overcome wanting? The impact of consumer knowledge and materialism upon credit card selection with young consumers

Citation

Cakarnis, J and D'Alessandro, SP, Does knowing overcome wanting? The impact of consumer knowledge and materialism upon credit card selection with young consumers, Young Consumers, 16, (1) pp. 50-70. ISSN 1747-3616 (2015) [Refereed Article]

DOI: doi:10.1108/YC-01-2014-00418

Abstract

Purpose

This paper investigates the determinants of credit card use and misuse by student and young professionals. Critical to the research is the impact of materialism and knowledge on selection of the appropriate credit card.

Design/methodology/approach

This study uses survey research and partial least squares to investigate credit card behaviors of students versus young professionals.

Findings

In a comparative study of young professionals and students, it was found that consumer knowledge, as expected, leads to better consumer selection of credit cards. Materialism was also found to increase the motivation for more optimal consumer outcomes. For more experienced consumers, such as young professionals, it was found that despite them being more knowledgeable, they were more likely to select a credit card based on impulse.

Originality/value

This paper examines how materialism may in fact encourage some consumers to make better decisions because they are more motivated to develop better knowledge. It also shows how better credit card selection may inhibit impulse purchasing.

Item Details

Item Type:Refereed Article
Keywords:credit card, consumer knowledge, financial product evaluation, impulse purchasing, materialism
Research Division:Commerce, Management, Tourism and Services
Research Group:Marketing
Research Field:Consumer-oriented product or service development
Objective Division:Economic Framework
Objective Group:Management and productivity
Objective Field:Marketing
UTAS Author:D'Alessandro, SP (Professor Steven D'Alessandro)
ID Code:138331
Year Published:2015
Web of Science® Times Cited:11
Deposited By:Marketing
Deposited On:2020-04-01
Last Modified:2020-12-01
Downloads:0

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