Investigation of the effect of university students financial literacy on credit card usage habits: Example of Bilecik Şeyh Edebali Üniversitesi-Hacettepe Üniversitesi

The rapidly changing market conditions, situations that require individuals to make financial decisions, and the changes in the demographic structure of the society in the 21st century, highlight the importance of financial literacy. The concept of financial literacy has become necessary to make sound financial decisions for individuals as a result of increasing financial tools and applications in many different fields not only investment, savings, and conscious consumption but also using credit card in daily life. In addition, many individuals are experiencing difficulties due to the increasing use of unconscious credit cards today, and many consumers devote almost all of their income to paying credit card debt. A financial literate individual will be able to make more accurate financial decisions and will be more conscious of using credit cards that are directly related to financial decisions. The purpose of the study conducted in the survey model is to examine the relationship between financial literacy and credit cards by measuring the financial literacy levels of university students and evaluating their attitudes towards credit cards. The population of the research consists of the students in the faculty of economics and administrative sciences in Hacettepe University and Bilecik Şeyh Edebali University. Randomly chosen sample includes 300 students of the faculties. The research results show that 45% of the students had average knowledge about financial literacy, and 38.6% of the students were successful in financial matters. Another result is that 57.3% of the participants are concerned about the use of credit cards.