Personality, Risk Tolerance, and Religiosity on Consumer Credit Card Use: Implications for Sustainability and Social Impact: An Abstract

In the past, credit purchases were available only to some consumers at few locations, but nowadays, many consumers use credit purchases through various credit purchase methods. Credit cards have a significant impact on consumer credit (Basnet and Donou-Adonsou 2016) but also why consumers use their credit cards. This study suggests a direction for future value-driven consumer research related to consumers’ credit card usage influencing sustainable mindfulness and social impact. In this study, a dual processing model is used to explain consumer behavior with credit card usage (Cline and Kellaris 2007). Further research has linked the dual process with conservatism or liberalism attitudes (e.g., Yilmaz and Saribay 2016). Because of these attitudes, conservatism is significantly related to the cognitive system, while liberalism is associated with the emotional system. In our study, we examine the impact on consumer credit card usage by dividing individual personality into conservatism and liberalism. The dual processing model may be useful in understanding consumer attitudes and behaviors, but researchers differ in the content and composition of the model (Stone 2011). It is also not to be overlooked that external factors may control the impact of personality on financial behavior (Perry and Morris 2005). That is, consumers can increase their mindfulness by performing internal value search. Finally, existing research has emphasized the importance of religion for these intrinsic values (Park and Zehra 2018) and behaviors (Minton et al. 2015). Religious consumers will pay more attention to intrinsic value. Based on our results, we found that there are three significant main effects. First, our ANOVA model indicates a near to statistical significance effect of personality. Our results also show significant effect of risk tolerance and religion. Second, we conclude that there is a nearly acceptable level of significance of personality risk tolerance interaction, indicating that conservative consumers with high-risk tolerance tend to use their credit cards more than conservative consumers with low-risk tolerance. Third, the last hypothesis in our study is the most important. According to our results, there was statistically significant three-way interaction between personality, risk tolerance, and religion.