Case study of the BankAmericard holders of the Liberty National Bank and Trust Company of Oklahoma City
Abstract
Purpose of Study: This study had five major objectives. First was to develop an economic, social, and demographic profile of the BankAmericard holder. Second, to determine cardholders reaction to descriptive billing and annual fees. Third, determine cardholders attitude toward the use of credit and their BankAmericard. Fourth, to determine what cardholders know about their BankAmericard, and fifth, determine the general usage and paying patterns of cardholders. Findings and Conclusions: It was found that the average cardholder had been associated with Liberty National Bank for over three years, and that he also used the services of another bank for some of his financial needs. The average cardholder has lived in Oklahoma for over ten years, owns his own home, is married, over 25 years of age, and is not a college graduate. Eighty percent of the respondents have a yearly income in excess of $10,000. Respondents reaction to descriptive billing and annual fees was negative. The majority of cardholders used credit of some type, but the fear of overspending and the preference for paying cash were the two most cited reasons for non-users not using their card regularly. Regular card users felt the convenience offered by the card was its greatest advantage. Cardholders were aware of the amount of their line of credit and of the interest rate charged on their unpaid balance, but but many were not aware of their liability for a lost or stolen card, or of time cash loan service available with their card. The majority of cardholders use their card less then five times per month, with clothing, gifts, vacations, and gasoline being the most frequently purchased items. Cardholders average size charge is less than fifty dollars with installment users having a monthly balance in excess of one-hundred dollars. Respondents were evenly divided between installment and convenience users.
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- OSU Master's Report [734]