Use of Credit Cards by Older Americans
Abstract
Although older American spend increasingly large sums of money on goods and services, it is widely believed by financial service providers and retailers that these individuals make relatively little use of credit cards. Using a large national sample of respondents from different age groups, finds that older adults use credit cards as frequently as younger adults when circumstances and opportunities for consumption in both groups are similar. Age‐related declines in use of credit cards may reflect changes in lifestyles and other circumstances associated with age, not age per se. Discusses implications of the results for retailers and consumer credit lenders.
Keywords
Citation
Mathur, A. and Moschis, G.P. (1994), "Use of Credit Cards by Older Americans", Journal of Services Marketing, Vol. 8 No. 1, pp. 27-36. https://doi.org/10.1108/08876049410053276
Publisher
:MCB UP Ltd
Copyright © 1994, MCB UP Limited