Abstract
Disclosures in credit card advertisements have become a serious concern for consumers (Wang, 2009a, 2011a). Without understanding the disclosures in credit card advertisements fully, a card user may misuse a credit card after he or she applies and receives the card. In the United Kingdom, the average consumer carries US$6421 in credit card debt (CreditAction, 2010; Wang, 2011a). In Australia, there is currently $41.8 billion worth of outstanding credit card debt, and in the United States, $2596 billion was owed on credit cards in 2008 (Harrison and Gray, 2010; Wang, 2011a). In the United States, the average credit card debt for each household is $16 007 (Federal Reserve, 2010; Wang, 2011a), and the average American consumer carries $3752 in credit card debt (Index Credit Cards, 2010; Wang, 2011a). These findings further indicate the issues regarding mismanagement of credit card debt.
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Wang, A. (2016). Socialization and Processing Effects on Comprehension of Credit Card Advertisement Disclosures. In: Harrison, T. (eds) Financial Literacy and the Limits of Financial Decision-Making. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-30886-9_7
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DOI: https://doi.org/10.1007/978-3-319-30886-9_7
Publisher Name: Palgrave Macmillan, Cham
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