Credit card use and debt by female students: a case study in Melbourne, Australia

This paper examines credit card usage and credit recovery activities by female students at universities in Melbourne, Australia. Primary data were collected though a four-part questionnaire. A total of 257 valid responses were analysed. The research found that there is no relationship between monthly average credit card debt and demographic and socioeconomic variables. There is, however, a negative correlation between monthly average credit card debt and weekly income. The patterns of credit card usage by the respondents in years 3 and 4 tend to be negative (irresponsible). The junior respondents are more likely to have positive (responsible) credit card usage than the senior respondents. Also, the majority of the respondents sought financial help from their parents and/ or relatives, although some approached financial counsellors, government and non-governmental agencies for help to settle debts. Overall, both junior and senior female students need assistance in regard to credit card usage and credit recovery.