One card fits all? Exploring the incidence, intensity, and extent of credit card use in Canada (1999–2019)

Khan Jahirul Islam () and Julien Picault
Additional contact information
Khan Jahirul Islam: The University of British Columbia, Okanagan Campus

Journal of Financial Services Marketing, 2025, vol. 30, issue 1, No 5, 28 pages

Abstract: Abstract The effects of credit card usage on well-being depend on factors determining its usage, repayment habits, and responsible utilization. Although international literature extensively covers credit card usage, a notable gap exists in Canadian research, where no comprehensive analysis of credit card debt with a representative Canadian sample has been conducted over an extended period. This study utilizes Statistics Canada’s Survey of Financial Security to investigate the determinants of the incidence, intensity, and extent of credit card usage between 1999 and 2019. Education, income, and assets are identified as significant determinants, with their impact evolving over time. Most Canadian households hold one or two credit cards, while family budgeting, financial expectations, stock market investment, and bank savings are significantly associated with usage intensity. Regional disparities exist, with certain provinces exhibiting higher credit card usage. Average credit card debt doubled between 1999 and 2019. Findings emphasize the need for comprehensive policy measures to promote responsible credit card usage, addressing income, gender, and regional disparities while prioritizing financial literacy, debt management resources, and strengthening credit card industry regulations.

Keywords: Household finance; Consumer credit; Credit card use (search for similar items in EconPapers)
Date: 2025
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1057/s41264-024-00298-0 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:jofsma:v:30:y:2025:i:1:d:10.1057_s41264-024-00298-0

Ordering information: This journal article can be ordered from
https://www.palgrave.com/gp/journal/41264

DOI: 10.1057/s41264-024-00298-0

Access Statistics for this article

Journal of Financial Services Marketing is currently edited by Tina Harrison

More articles in Journal of Financial Services Marketing from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().