Determinants of Credit Card Use: Evidence from Cross-Sectional Data in Turkey

Abstract

It is important to make payments contactless in order to comply with hygiene rules, especially when shopping under the new normal principles. It is expected that this will increase credit card use. Based on this, the aim of the study is to determine the demographic, economic and environmental factors affecting the use of credit cards. In this study, the data obtained from the Turkish Statistical Institute were used. Binary logistic regression and binary probit regression analyzes were used under discrete choice analysis to identify the factors affecting the household credit card use status. The analysis results showed that the factors such status, income, expenditure, financial assets, saving, online shopping, and questionnaire year were effective on the credit card use attitudes of households. Determining the effects and effect sizes of these has contributed to explain the attitude of credit card use and has guided decision-makers and policymakers to transform the use of credit cards for contributing to the economy.