Discriminating the number of credit cards held by college students using credit and money attitudes

Based on previous studies, a credit attitudes scale [Xiao, J. J., Noring, F . E., gr Anderson, J. G. (1995). College students' attitudes towards credit cards. Journal of Consumer Studies, 19, 155-174] and a modified version of Furnham's [Furnham, A. (1984). Many sides of the coin: The psychology of m oney usage. Personality and Individual Differences, 5, 501-509] Money Belie fs and Behavior Scale [Hayhoe, C. R., Leach, L., Turner, P. R., Gross, P. E ., Bass, B., & Xiao, J. J. (1997). College students' use of credit cards: A descriptive study. In J. J. Xiao, Proceedings of Association for Financial Counseling and Planning Education (pp. 42-45), San Diego, CA, December 199 7] were employed to examine college students' use of credit cards. The mone y attitudes of obsession and retention and the affective credit attitude we re shown to distinguish between students with credit cards and those withou t credit cards. The money attitude of effort/ability and the cognitive cred it attitude distinguished between students with four or more credit cards a nd students with one to three credit cards. Ordered logistic regression was used to predict students with four or more credit cards. Nine variables we re significant predictors: the affective credit attitude, age, the cognitiv e credit attitude, gender, having taken a course in personal finance, borro wing from friends or relatives, the retention money attitude, use of money as a reward, and preparing a list before shopping (listed in order of signi ficance). (C) 1999 Elsevier Science B.V. All rights reserved. PsycINFO clas sification: 3920; 3120 JEL classification: D120.