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Credit Cards as a Market Instrument: Consumer Understanding and Use

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Consumer Knowledge and Financial Decisions

Part of the book series: International Series on Consumer Science ((ISCS))

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Abstract

This chapter provides an overview of the credit card market in the United States with an emphasis on consumer understanding and utilization. An overview of the development of the credit card market in the United States is presented along with a discussion of credit cards as financial instruments. This is followed by a review of (1) spending behavior and (2) evidence regarding the impact of financial knowledge in credit card use behavior. Finally, recent legislative changes are considered.

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Author information

Authors and Affiliations

  1. Department of Consumer Sciences, University of Alabama, 870158, Tuscaloosa, AL, 35487, USA

    Cliff A. Robb

  2. Division of Personal Financial Planning, Texas Tech University, 41210, Lubbock, TX, 79409, USA

    Russell N. James III

Authors
  1. Cliff A. Robb
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  2. Russell N. James III
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Correspondence to Cliff A. Robb .

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Editors and Affiliations

  1. Dept. Economics, University of Maryland, Baltimore County, Hilltop Circle 1000, Baltimore, 21250, Maryland, USA

    Douglas J. Lamdin

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Robb, C.A., James, R.N. (2011). Credit Cards as a Market Instrument: Consumer Understanding and Use. In: Lamdin, D. (eds) Consumer Knowledge and Financial Decisions. International Series on Consumer Science. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-0475-0_7

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