A Study On The Willingness Of College Students To Use Credit Cards

China's economic growth has slowed down as global finance has entered a downward cycle.At the same time,consumption plays an increasingly strong role in promoting the economy,and the contribution of consumer credit to economic development is constantly improving.In recent years,the consumption concept of Chinese residents has gradually changed,and the mode of consumption in advance has gradually been recognized by the public,especially by the new generation of college students.With a large base of college students,there is a broad space for the growth of campus consumer finance.Commercial banks are the earliest institutions providing consumer finance in China,and credit card is one of the main exhibition carriers.In 2009,the credit card market for college students fell into a downturn,unable to meet the reasonable consumer financial needs of college students.At the same time,Internet finance rose to prominence under the encouragement of policies,resulting in the emergence of campus lending products with varying levels.In 2017,in the context of frequent campus loan problems,the regulatory authorities issued policies to encourage commercial banks to make reasonable innovations and make up the shortcomings of financial services for college students.Under the background of economic growth shift,many banks have made retail transformation,and credit card loans have become one of the key points of commercial banks' retail transformation due to their high yield and counter-cyclical quality.Under the favorable policies,college students once again become the target customers of many banks' credit card centers.However,due to the growing maturity of products such as Ant Credit Pay,the actual market response is far less enthusiastic than ten years ago.In this context,it is of great practical significance to provide some policy suggestions for the regulatory authorities and some development ideas for the industry.This paper combines case analysis with empirical analysis.Firstly,the background and significance of the research are illustrated,related concepts are defined,and then the development process and current situation of college student credit card is analyzed from three sides: policy,demand and supply.Supply-side analysis compares college students' credit cards with Ant Credit Pay in five dimensions: opening and credit granting,amount and use,interest and expense,repayment and credit investigation influence,preference and equity,and clarifies the advantages and disadvantages of credit cards and Ant Credit Pay in the college student consumer financial market.In the past,the research on the credit card behavior of college students was limited by the background and focused on the credit card itself,without a comparative analysis with the emerging similar products.Based on the case study,this paper conducted an empirical study on the credit card use status of college students through descriptive analysis,difference analysis,regression analysis and other methods,and proposed specific suggestions for the healthy and orderly development of the credit card market of college students in China.The empirical part of this paper analyzes the factors influencing the number,willingness and propensity of college students to use credit cards,and draws the following conclusions :(1)when compared with Ant Credit Pay,female students are more inclined to use Ant Credit Pay,while male students are more inclined to use credit cards;(2)the use of credit cards by family and friends has a significant positive impact on the quantity,willingness and tendency.People with overseas consumption experience are more willing to use credit cards.(3)credit card awareness has a significant positive impact on the number and willingness,and there is a significant negative relationship between credit consciousness and the number;(4)the income source has a significant negative impact on the number,while the monthly expenditure has a significant positive impact on the number and willingness;(5)college students who have used Ant Credit Pay tend to use it rather than credit card;(6)the cost factor has different effects on the intention and tendency.When the degree of emphasis on cost increases,college students' willingness to use credit cards will change from "unwilling" to "indifferent",but when compared with Ant Credt Pay,the cost-conscious group is more inclined to use Ant Credit Pay.Through analysis,the paper puts forward the following suggestions:(1)Moderately relax the policies related to college students' credit card business: Different opening conditions for college students different grades,different degrees and different off-campus practice background;Moderately relax restrictions on the number of card issuing banks;(2)Embrace fintech to improve risk control: Connect central bank credit investigation and market credit investigation to reduce the cost of credit investigation;Establish and strengthen partnership with colleges and education departments;(3)Strengthen characteristic innovation and improve the pertinence of services: Appropriately reduce the rate of college students' credit cards and set a more flexible repayment cycle;Give up the penetration of "small amount and high frequency" consumption scene,focus on the penetration of "medium amount and medium frequency" scene;(4)Strengthen the popularization of credit card knowledge and financial risk education.With the maturity of AI,big data,cloud computing and other technologies,with the deepening of the cooperation between traditional finance and emerging finance,banks are bound to find new development opportunities in the university student market.