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Title: Consumer rationality/irrationality and financial literacy in the credit card market: Implications from an integrative review
Authors: Dr. SHEN Na, Nell 
Issue Date: 2014
Source: Journal of Financial Services Marketing, Mar 2014, vol. 19(1), pp. 29-42.
In Harrison, T. (Ed.) (2016). Financial literacy and the limits of financial decision making (pp. 155-176). London: Palgrave Macmillan.
Journal: Journal of Financial Services Marketing 
Abstract: This study analyzes consumer rationality/irrationality and financial literacy in the credit card market. Through literature review, it reveals that consumers, as a whole, make a rational decision when they borrow using a credit card and bear the high interest rate. However, consumers make various mistakes in their individual financial decisions and credit card behavior. Financial literacy, affected by cognitive ability, financial knowledge and financial education can improve consumers' behavior. This article presents new insights on the implications for consumers, credit card issuers, policymakers and researchers. It has both practical and academic contribution to the credit card market.
Description: Open Access
Type: Peer Reviewed Journal Article
ISBN: 9783319308852
ISSN: 1363-0539
DOI: 10.1057/fsm.2014.4
Appears in Collections:Business Administration - Publication

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