Thesis Guide

University of Perpetual Help System Dalta Page |
Las Piñas Campus i
CREDIT CARD DEBT MANAGEMENT PRACTICES OF

SELECTED PROFESSIONALS IN LAS PIÑAS CITY: AN
ASSESSMENT AND IMPROVEMENT FRAMEWORK FOR
CREDIT CARD DEBT MANAGEMENT
An Accounting Technology Research

Presented to the Faculty of the
College of Business Administration and Accountancy
University of Perpetual Help System DALTA, Las Piñas City
In Partial Fulfillment
Of the Requirements for the Degree
Bachelor of Science in Accounting Technology
Bulan, Cyramil Jade C.

Mercado, Mary Rose D.
Pascual, Mark Vincent C.
Payopas, SharaLouiecy C.
October 2018

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APPROVAL SHEET
This undergraduate thesis entitled “CREDIT CARD DEBT

MANAGEMENT PRACTICES OF SELECTED PROFESSIONALS IN LAS
PIÑAS CITY: AN ASSESSMENT AND IMPROVEMENT FRAMEWORK FOR
CREDIT CARD DEBT MANAGEMENT” prepared and submitted by Cyramil
Jade C. Bulan, Mary Rose D. Mercado, Mark Vincent C. Pascual, and
Shara Louiecy C. Payopas in partial fulfillment of the requirements for the
degree of Bachelor of Science in Accounting Technology has been
examined and recommended for acceptance and approval for pre-oral
defense/ final oral defense.
RYAN JAY CARASCO, CPA AMIR T. AUDITOR, CPA, MSA

Thesis Adviser Thesis Instructor
ORAL EXAMINATION COMMITTEE

Approved by Oral Examination Committee with the grade of ____.
RAQUEL A ALBAN, CPA ANTONIO V. MAICO JR. CPA

Panel Member Panel Member
DR. LORNA C. CONDES

Chair Panel
Accepted in partial fulfillment of the requirements for the degree of Bachelor

of Science in Accounting Technology.
LETICIA C. GAMAD, MBA, MAED, DBA

OIC Dean, College of Business Administration and Accountancy

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ACKNOWLEDGEMENT
The researchers would like to express their deepest
appreciation and utmost gratitude to the people who provided
support and assistance for the improvement of this humble piece of
work. The researchers would like to give thanks to the following
people who gave their time and efforts in making this study possible:
LETICIA C. GAMAD, MBA, MAED, CFNP, DBA, College of
Business Administration and Accountancy of University of Perpetual
Help System DALTA Las Piñas City, for the support that motivated
the researchers to do well while writing the thesis paper.
MR. AMIR T. AUDITOR, CPA, MSA for sharing his
knowledge to give the researchers a better understanding to the
topic of the study, and giving his time to proofread the research
drafts.

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MR. RYAN JAY J. CARASCO, CPA the researchers’
adviser, for giving support and guidance for the whole research
process.
BETINA T. CONDE, PHD, the researchers’ grammarian who
not only checked the study, but give valuable suggestions to
enhance the paper.
Dr. LORNA C. CONDES, the researcher’s statistician for the
inspiration, understanding, and unselfish devotion to share his
mathematical expertise as well as the correction of mistakes.
TO RESPONDENTS, for their willing to participate and time
to answer the questionnaires despite of having busy schedule.

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TO FAMILIES AND FRIENDS, for the understanding and
unconditional support, both financial and emotionally. They are the
reason why the researchers completed all the requirements and;
And most of all TO ALMIGHTY GOD, for the wisdom and
perseverance that He bestowed upon the researchers before,
during, and after the completion of the study.
ABSTRACT

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Name of : University of Perpetual Help System
Institution DALTA
Address : Pamplona, Las Piñas City
Title : CREDIT CARD DEBT MANAGEMENT
PRACTICES OF SELECTED
PROFESSIONALS IN LAS PIÑAS
CITY: AN ASSESSMENT AND
IMPROVEMENT FRAMEWORK FOR
CREDIT CARD DEBT MANAGEMENT
Authors : Cyramil Jade C. Bulan
Mary Rose D. Mercado
Mark Vincent C. Pascual
Shara Louiecy C. Payopas

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Degree : Bachelor of Science in Accounting
Technology
Date Completed : October 2018
This study indicates the best credit card management
practices on selected professionals in Las Pinas City in terms of
different variables like Credit Worthiness, Ability to Pay, Credit Limit,
Interest and Rewards and Satisfactory on Credit Company. This
study was conducted to help users of credit cards on how to manage
their credit card debt to improve their ability to pay and also giving
new ideas on assessing credit card practices.
The survey questionnaire was used to gather necessary data.
It was distributed to 285 professionals who uses credit cards in Las
Pinas City who were available during the time the questionnaires
were being distributed. The respondents were asked to answer
necessary information and questions indicated in the questionnaire.

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The researchers discovered from the conclusion that the
variable the respondents considered the most in terms of credit card
management practices is “Ability to Pay” which is interpreted as
“Highly Practiced”. It also revealed that “Credit Worthiness”, “Credit
Limit” “Interest and Rewards”, and “Satisfactory of Credit Card
Company” got a verbal interpretation of “Moderately practiced”. As a
result, there is no significant differences debt management practiced
by the respondents, as well as in their profile variables.
Index Terms – Debt Management,

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TABLE OF CONTENTS
TITLE PAGE i
APPROVAL SHEET ii
ACKNOWLEDGEMENT iii
ABSTRACT vi
TABLE OF CONTENTS ix
LIST OF TABLES xii
LIST OF FIGURES xvii
LIST OF APPENDICES xviii
CHAPTER
1 The Problem and Its Background
Introduction 1
Background of the study 2
Theoretical Framework 3
Conceptual Framework 4
Statement of the Problem 7
Hypothesis 9

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Scope and Limitation of the Study 10
Significance of the Study 10
Definition of Terms 10
Review of Related Literature and Studies 12
2 Methodology
Research Method 25
Population of the Study 26
Sampling Design 26
Respondent of the Study 26
Data Gathering Instruments 27
Validation of the Study 28
Data Gathering Procedures 28
Data Collection 29
Data Analysis 30
3 Results and Discussion
Profile of the Respondents 31
Information on Credit Card Usage 39

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Extent of Debt Management Practiced by Credit 48
Card Users
Significant Difference in Debt Management Practiced 61
By Credit Card Users when group according to profile
4 Summary and Findings, Conclusions and
Recommendations
Summary of Findings 128
Conclusion 210
Recommendations 211
References 215
List of Website 217
Curriculum Vitae 260

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LIST OF TABLES
Table Page
1.1 Age of Respondents 31
1.2 Gender of Respondents 33
1.3 Civil Status of Respondents 34
1.4 Occupational Sector of Respondents 35
1.5 Monthly Salary of Respondents 36
1.6 Total Credit Limit of Respondents 38
2.1 Number of Credit Cards 40
2.2 Frequency on Using Credit Card 41
2.3 Reason to Apply for Credit Card 42
2.4 Amount of Payment Using Credit Card Monthly 44
2.5 Reason to Use Credit Card 45
2.6 Length of Credit Card Usage 47
3.1 Credit Worthiness 49
3.2 Ability to Pay 51

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3.3 Credit Limit 53
3.4 Interest and Rewards 56
3.5 Satisfactory of Credit Card Company 59
4.1 Significance of the study according to the 62

Presence of External Audit
4.1.1 Differences in the extent of practice for credit 63
worthiness in regard to age group
4.2 Differences in the extent of practice for ability to 64

pay in regard to age group
4.2.1 Post Hoc Analysis of the Significant Difference 66
4.3 Differences in the extent of practice for credit 67

limit in regard to age group
4.4 Differences in the extent of practice for Interest 71

and Reward in regard to age group
4.5 Differences in the extent of practice for 73

satisfactory of credit company in regard to age
group

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worthiness in regard to gender

pay in regard to gender

limit in regard to gender
4.9 Differences in the extent of practice for interest 83

and rewards in regard to gender
satisfactory of credit company in regard to
gender

worthiness in regard to civil status

pay in regard to civil status

limit in regard to civil status

and rewards in regard to civil status

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satisfactory of credit company in regard to civil
status

worthiness in regard to occupational sector

pay in regard to occupational sector

limit in regard to occupational sector

and rewards in regard to occupational sector

occupational sector

creditworthiness in regard to monthly salary

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pay in regard to monthly salary

limit in regard to monthly salary

and rewards in regard to monthly salary

monthly salary

worthiness in regard to total credit limit

pay in regard to total credit limit

limit in regard to total credit limit

and rewards in regard to total credit limit

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satisfactory of credit company in regard to total
credit limit
LIST OF FIGURES
FIGURE PAGE
1 Operational Framework 6
2 Credit Card Debt Management Improvement 212

Framework

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LIST OF APPENDICES
APPENDIX PAGE
A Letter of Acceptance for Adviser 226
B Letter for Survey for Evaluator 227

(Signed by Amir T. Auditor, CPA, MSA)
C Letter for Survey for Evaluator 228

(Signed by Rachel Alban, CPA)
D Letter for Survey for Evaluator 229
(Signed by Annelen B. Marcos, CPA MBA)
E Sample Survey Instrument 230
F Letter to Respondents 232
G Certificate of Statistician 233
H Certificate of Turnitin 234
I Certificate of Grammarian 240
J Relevant Raw Statistical Result 241

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Chapter 1
The Problem and Its Background
Introduction
Debt can be stressful and this can create more problems
such as health-related complications, strains in relationships, and
even death. That is why one must consider debt management as
an option. Furthermore, debt management is an important aspect
for an individual to focus on building wealth for the betterment of
future security and livelihood (ZAK, 2016). In addition, Guess Post
(2018) stated that debt management is an essential way to
prevent small amount of debt turning into rising financial problem.
According to Hightower (2017), credit card debt is a type of
unsecured debt which means that credit card companies cannot
go after the customers’ assets to pay off what they owe. Because
of this, many of these companies negotiate a settlement with their
customers in order to regain most amount of the debt, if possible.

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Credit cards can offer a lot of benefits to those who can
manage them properly and pay bills on time. However, having a
high level of credit card debt means a very bad problem for a credit
card user (Mangis, 2018).
Background of the Study
According to Financial Dictionary (2015), debt
management aims to repay debts in the shortest time possible.
Individuals tend to manage debts either on their own or with the
help of third party. In most countries, there are some organizations
who are offering debt management plans to debtors who cannot
manage a huge amount of debts on their own. According to
Weston (2016), debt management plans help to make payments
more affordable and lower the interest rates. However, O’Shea
(2016) mentioned that it does not mean that the plan will cut the
amount owed, but the lower payments resulted once the credit
counselor has the creditor to agree on lowering the interest rate
or dropping some fees.

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According to Ahmad and Omar (2013), credit card users,
especially the younger ones, must be educated on how to handle
credit card debts and obligations in more responsible manner. The
reason for this is to prevent the credit card users from being
victims of insolvency or bankruptcy because of excessive usage
of credit cards. Having a high level of debt is commonly a burden
for an average individual since it strains the individual’s income to
maintain regular payments which leads to bankruptcy if it is not
well-managed.
Theoretical Framework
Credit Theory of money
Credit theory or Debt theory are monetary economic theory
concerning the relationship of money and debt. Credit theories of
money argue that money is best understood as debt even in
systems often understood as using commodity money. The Credit
Theory asserts in short that a sale and purchase is the exchange

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of a commodity for credit. The theory is that it depends on the
debtor on how to pay its own debt (Mitchell-Innes, 2018)
Management Theory
Management theories are concepts surrounding
recommended management strategies, which may include tools
such as frameworks and guidelines that can be implemented in
modern organizations. Management Theory have proven useful in
simplifying the decision making (Jocson, 2011)
Conceptual Framework
The researchers analyzed the concept of ability to pay,
creditworthiness, and credit limit in relation to the assessment of
credit card debt management practices.
The ability to pay is referred to as solvency. It is essential in
order to determine if the credit card user can pay off the debts
with his/her income. If the credit card user becomes insolvent, it
seems that bankruptcy might be the only option but debt

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management could serve as an alternative. Meanwhile,
creditworthiness is based on how an
individual manage his/her credit and debt obligations (Irby, 2018).
And then, the third concept is credit limit. Irby (2018) also defined
it as the maximum outstanding balance that a credit card user can
have at a given time without having a penalty.
The conceptual framework showed the inputs and outputs
of the study, with the aid of the data obtained from the respondents
in the questionnaires, the researchers assessed the demographic
profile, information on credit card usage, credit worthiness, ability
to pay, credit limit, interests and rewards, and satisfactory of credit
company. After analyzing the data, the researches evaluated the
efficiency and effectiveness of debt
management practices in reducing and paying off credit card
debts.
Figure 1
Credit Card Debt Practices Framework

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The analysis was done through the following process: data
collection using questionnaires; clarifying statistical statements;
and data interpretation, findings, conclusions, and
recommendations.
Statement of the Problem

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This study aimed to know the assessment of credit card
debt management practices of selected professionals in Las Piñas
City.
Specifically, it answered the following questions:
1. What is the profile of the respondents in terms of:
1.1 Age;
1.2 Gender;
1.3 Civil status;
1.4 Occupational sector;
1.5 Monthly income/salary;
1.6 Total credit limit?
2. What is the information on credit card usage in terms of:
2.1 Number of credit cards;
2.2 Frequency on using credit card;
2.3 Reason to apply for credit card;
2.4 Amount of payment using credit card monthly;

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2.5 Reason to use credit card;
2.6 Length of credit card usage?
3. What is the extent of debt management practiced by credit
card users in terms of:
3.1 Credit worthiness;
3.2 Ability to pay;
3.3 Credit limit;
3.4 Interests and rewards;
3.5 Satisfactory on credit company?
4. Is there a significant difference in debt management practiced
by credit card users when grouped according to the profile?
Objective of the Study
There were four primary objectives of this study. First was to
determine the profile of the respondents. Second was to

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know the information on credit card usage. Third was to
determine the extent of practice of debt management that are
being practiced by credit card users. Last was to ascertain
the significant difference in the assessment
of credit card debt management practices of selected
professionals in Las Piñas City.
Hypothesis
For the purpose of analyzing data, the following hypothesis
was tested.
Null:
Ho: There is no significant difference in debt management
practiced by credit card users when grouped according to the
profile.
Scope and Limitation
This study primarily focused on the assessment of credit
card debt management practices of selected

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professionals. The researchers made a set of
questionnaires and was validated by the experts. Office
employees are selected as the respondents of the study.
The respondents were limited to two hundred eighty-five
credit card owners residing and working in Las Piñas City.
The credit card owner should be actively using his/her
card for at least one year. The researchers used
ANOVA test in analyzing the data and a convenience
sampling technique to the respondents in the study.
Significance of the Study
This study aims to assess the credit card debt
management practices that will benefit all current and future
credit card users.
This study will seek awareness to the users for them to
come up to the new idea on how to use their credit card properly,
so that they can avoid overspending.

The results of the study will be of great benefit to the
following:
Credit card companies. As a financial institution that
lends money to the individual, this research may serve as
a guide to know the spending pattern of the consumer and
for them to know how they will improve their service to the
clients.
Credit card users. This research may guide them to
manage credit card effectively to avoid overspending and
identify the spending pattern of the credit card owners.
Future credit card users. This research may serve as a
supply of knowledge to the individuals who are interested
in using credit card as a form of payment in their
transactions.
BSA and BSAT students. This research may use as a
source of idea in their academic and research work.

Future researchers. This research may use as a
reference in their research study.
Definition of Terms
Credit card - one of the main topic of this study.
Credit card debt - one of the main topic of this study.
Credit limit - one of the variables of the study to
determine the extent of practice of debt management that
concerned about the credit limit.
Credit score – a topic that was used to discuss the
related literature for this study.
Credit worthiness - one of the variables of the study to
determine the extent of practice of debt management that
concerned about the credit worthiness of credit card user.
Debt management – one of the main topic of this study
which was also used to discuss the related literature.

Interest - one of the variables of the study to determine
the extent of practice of debt management that concerned about
the interest and rewards of credit cards.
Professionals – the respondents which were office
employees working in Las Piñas City.
Satisfactory on credit company - one of the variables of
the study to determine the extent of practice of debt
management that concerned about how satisfied were the credit
card users to their credit companies.
Solvency - one of the variables of the study to determine
the extent of practice of debt management that concerned about
the ability of credit card users to pay off debts.
Reviews of Related Literatures and Studies
To better understanding this research, the following works
of literature and studies discussed: debt management, credit

score, credit card industry, ways to lessen credit card debt and
credit card misconceptions.
Debt Management
According to Smith (2018), debt is a fact of life for most
nowadays. It is a mean of paying for almost everything, from
daily needs to big and expensive items like cars and houses.
Simply, debt is any amount of money that owed by one person
from another. However, debt management has a distinctive
strategy developed to help a debtor manage their debt. Due to
lack of knowledge or sometimes, the amount of debt
overwhelmed them, the debtors are unable to sufficiently
manage their debt on their own. That is why an outside company
developed a strategy on how to properly manage a debt
(WebFinance Inc, 2018).
According to (Escobar, 2016), there are effective debt
management strategies that can help people on how to manage
debt because debt is part of daily life and it can be necessary

whether to pay for education, getting a home, buying a car or
expand a business. But in some cases. Debt can easily get
people in trouble if they do not plan and take control over it. In
addition, Irby (2018) stated that there are several ways to
manage debt. First, know the person you owe and the amount
you need to settle. Make a calendar of activity that shows
schedule on when you will pay. This will help you to be more
aware about your debt. Second, settle the amount you need to
pay on time. Settling your bills on time will reduce the amount of
your debt and prevent to have interest. If you have a
smartphone, use its calendar to indicate when you will pay your
debt. This will become an alarm for you to be aware. Third, if you
cannot pay the exact amount on that day, at least pay a
minimum amount. It will keep your debt from growing but it will
let your account in good condition.
According to Guest Post (2018), when it comes to debt
the highest rate of interest are the credit cards. So in deciding

what debt is to focus on is your credit card, it is a good idea to
pay your credit card debt first. As this is the one that will cost you
the most money. Even if you cannot afford to pay off much of
your debt, you should always make the minimum payment. Once
your biggest payment has been prioritized, go through your debt
list and decide in which order they ought to be paid.
Credit Score
According to Wood (2018), credit score is a three-digit
representation which creditors use to determine the risk of
lending debtors money. This also tells them if the debtor can pay
off any debts he/she accumulates. Zoleta (2018) added that the
credit score ranges from 300 to 850, wherein 850 is the highest
rating. If the credit score is high, this means that the debtor has
sustainable income and good credit history. Majaski (2018)
stated that having a good credit score is important, especially in
certain situations. First is employment. If one is in finance or a
position that requires to handle company’s money, having a bad

credit means low chance of landing a new job. Second is lower
insurance rates. Bad credit can affect insurance rates and cost a
lot more than having good credit score. Third is qualifying for
rentals. Having poor credit makes a difficulty not just in qualifying
home mortgages, but also in rental opportunities since credit file
shows that one can have risk of not paying rent. Last is utilities.
One cannot get necessary utilities if one has credit problems.
Tan (2017) mentioned that there are factors which are
used in order to calculate credit score. These include: payment
history; the amount of credit that the debtor is still owing; length
of credit history; types of credits used; and new credit which tells
how often does the debtor apply for new credit card or loan.
Credit Card Industry
The credit card industry in the Philippines is continuously
growing because consumers because consumers now a days
are relying on using credit card for transacting and paying their

bills. Filipino consumers prefer using credit cards rather than
cash because it is more convenient and efficient (Euromonitor
report, 2016). In addition, credit card can be beneficial to the
consumer because it can earn reward in making purchase,
discounts on gas station purchase and even in emergency
situation credit card can be useful (Discover, 2018).
In spite of the popularity of electronic payment, not many
Filipino use credit card as a firm of payment because of the low
banking and credit card penetration rate in the Philippines. Credit
card users are limited mostly to the group of middle class
population in the country (Padillo, 2018).
According to Dela Cruz (2018), credit card companies
offer perks and rewards to market their credit cards. For an
instance, one will get a point in every cent that will be spent
using his/her credit card account. The owner can redeem points
in various things such as gasoline, plane tickets, or store
discounts as long as one pays on time. Some credit card

companies offer sign-up bonus for those who are in their first
time in getting a credit card as well as cash bank programs
where one can save few percent as a certain purchases
unlimitedly. There is also safety net when the owner loses
his/her card. The bank can block the card from being used within
minutes of securing report. This insurance is far safer than losing
the wallet full of cash. There are banks that offer terms to which
one is only liable for the first 2500-3000 on unauthorized
purchases, so it is hard to lose the bank number because
reporting loss and disputing charges are needed to be done as
soon as possible to prevent the deceiver in making the most out
of the hard-earned money.
Ways to Lessen Credit Card Debt
Credit card is use as a substitute to cash since it is more
convenient in paying goods or services and even for online
purchasing. Consumption becomes easier to individuals because

they do not need to carry lot of cash that could reduce the risk of
theft. However, the misuse and abuse of credit card can lead to
negative effects like failure to live up the terms of use can result
to penalties (Atienza, 2014).
There are five ways to reduce an individual’s credit card
debt. The first step is to create a budget. List down the monthly
income and expenses on a piece of paper. In this way, an
individual will determine if he/she spends more than he/she
earns. If so, then one must review the list in order to look for
areas where one can easily cut costs. Second is to reduce
monthly bills. In this step, one must review his/her monthly
statements and subscriptions. Think of some ways to reduce
home energy expenses and have money-saving options for
regular monthly services. Third is to cut down on unnecessary
purchases. Cut off some luxuries that can be avoidable such as
fast food expense. Fourth is to rethink entertainment. There are
some entertainment activities that can be done at home, like

renting DVDs instead of going to expensive movie theaters.
Lastly, reward oneself along the way. Make some goals or
milestones which can serve as progress in order to keep
motivated. However, one must remember that the reward is
within reason (Bakke, 2013). In addition to these, one must have
an emergency fund so when the emergency occurs he/she has
cash to use. Next in line is to avoid unnecessary balance
transfer. Do not miss credit card payment, he/she better pays on
time so one can avoid penalties for being late in payment. It is
also advisable to pay the balance in full every month. One must
also know the signs of credit card debt, avoid cash advances, do
not lend the credit card, understand the credit term and lastly
limit the number of his/her credit card (Irby, 2018).
Credit Card Misconceptions
According to Tepper (2016), everyone knows about credit
card but they do not actually understand. If one got a blind spot,
then he/she might do some unexpected mistakes. Furthermore,

Steele (2017) cited several misconceptions about how credit
card works. First is paying the balance in full to avoid interest.
From a practical perspective, the debtor does not incur any debt.
However, the bank will still report the current balance as debt,
even before the debtor received the statement. Next is applying
for new credit card will hurt his/her credit score. There are two
things occur which affect the credit score when one is applying
and receiving new credit card. One is a request made for credit
history, and the other is additional credit granted that lower credit
utilization ratio. Lastly, cancelling credit cards will help the card
holder’s credit. This act will work as last resort to prevent from
having more debt, but it will also hurt one’s credit score. Knowing
these facts make the card holder to have better decisions in
using credit cards.
Synthesis
Many people have been considering credit cards as a
convenient way of paying goods and services especially when

one is financial bind. Aside from this, credit cards are beneficial
in having rewards and discounts upon purchasing certain
products. However, some of the credit card users may not focus
on their debts because they think they only owe so little. Even if
they have a small debt to pay, they still have to keep up with
their payments. On the contrary, if they owe a huge amount of
debt, they need to work hard to pay off that particular obligation
the soonest time possible. In these kind of situations, debt
management is a good option to consider. They must make a list
of their debts and the details, which include the creditor, monthly
payment, total amount of debt, and the due date. By doing this,
they can refer to their list on a periodic basis including the time
they have paid their bills. The debt list can be used to prioritize
the list of debts to pay off.
Gap Analysis
A debt management plan offers a lot of benefits that will
ease one’s credit problems. It combines all your debts into a

single monthly payment and distribute it to your respective
creditors. This will help you to reduce stress and save you from
hassle. It also helps you to have lower interest rates. Creditors
often agree to suspend or reduce interest when they agree to a
debt management plan. When this happens, more of your money
will be going towards reducing your debt balance. This also
shortens the time it takes you to repay your debt. Debt
management plan ends your stressful collection calls and letters.
It also helps you to have peace of mind, regain confidence and
control over your finances.
Therefore, debt management is an effective way of
settling debts among credit card users. Credit card debts may
cause problem once they are stacked up. However, this may
easily be resolved if the individual is aware of proper debt
management.

Chapter 2
Methodology
This chapter discusses the research methodologies used
to answer the research questions of the study. It defines the
projected research design, the target population, the sample
design, data collection instruments and procedures, and the
techniques for data analysis.
Research Method
The study used the descriptive research method to answer
the research question. Descriptive research is a study designed
to depict the participants in an accurate way. More simply put,
descriptive research is all about describing people who take part
in the study. The descriptive research determines the behavior of
individual in using credit cards. Also, the researchers used
comparative research method to determine if there are significant
difference exist in the assessment of credit card debt
management practices of selected professionals.

Population of the Study
This study covered a total of 285 of credit card user
respondents within Las Pinas City. The researchers gathered
information at a representative sample size for the study, two-
hundred eighty-five credit card users were asked regarding in their
credit card debt management.
Sampling Design
Convenience sampling technique was used in choosing the
respondents for the study. The sampling method is a non-
probability sampling in which the researchers used to gather a
representative from a group.
Respondent of the Study
The population sample of this study was limited to two
hundred eighty-five respondents in Las Piñas City. The target
respondents were office employees that actively using a credit
card for at least one year.

Data Gathering Instruments
The researchers developed a self-administered
questionnaire to gather information needed for the study with the
guide of thesis instructor. The questionnaire was used to evaluate
the formulated hypothesis and to answer research questions. The
questionnaire was composed of three parts:
The first part was the questions about the demographic
profile of the respondents. It included the age group of the
respondent, gender, civil status, occupational sector, and salary.
The statistical tool used by the researchers was frequency in order
to get the percentage.
The second part provided questions about credit card
usage. It included the number of credit cards, frequency on using
credit card, reason to apply for credit card, amount of payment,
reason to use credit card, and length of credit card usage.
Frequency was also used by the researchers as statistical tool.

The third part presented questions to assess the extent of
debt management practiced by credit card users in terms of credit
worthiness, ability to pay, credit limit, interest and rewards, and
satisfactory on credit company. The factors were measured by
five-point Likert Scale with following information: 1 = Always, 2 =
Sometimes, 3 = Rarely, 4 = Never. The statistical tool that was
used was descriptive analysis, one-way ANOVA, T-test and Post
Hoc Analysist to get the results needed.
Validation of the Instrument
The researchers utilized a self-administered questionnaire
to assess the credit card debt management practices. The survey
questionnaire was validated by the research adviser before it was
distributed to the respondents.
Data Gathering Procedures
First, the researchers utilized a self-administered
questionnaire in order to assess the credit card debt management
practices.

Then, the researchers seek for the target respondents.
Before conducting a survey, the researchers asked for approval
to answer the questionnaire. Once the respondent agreed, the
researchers gave out the questionnaire and allowed the
respondent to fill up independently.
Lastly, the researchers retrieved the questionnaire and
tabulated the results of each survey questions. All information that
had been gathered were organized into tabular form and were
subjected to statistical treatment before they were analyzed and
interpreted.
Data Collection
The researchers collected the data acquired from survey
questionnaires which provided by the respondents. The data
gathered were treated confidentially, hence the respondents could
rest assured that the information coming from them were used for
academic purpose only.

Data Analysis
Data was analyze using descriptive data analysis, One way
ANOVA and T- Test this was used to determine whether there are
any statistically significant differences between the means of two
or more independent. Post Hoc Test was also used to determine
if there is significant difference in a specific group by use of the
relevant computer packages such as Microsoft Office Excel and
Statistical 21 Package for Social Sciences (SPSS) program.
Chapter 3

Results and Discussions
Based on the data gathered, the following are the results
of the study; said data are presented based on the sequence of
the questions in the Statement of the Problem.
1. Profile of the Respondents
The data in this section contain the gathered basic
information of the respondents and also respondent’s
occupation and salary, and some information about the
credit card holdings
Table 1.1.
Age of Respondents
Age Frequency Percentage
21 – 30 118 41.4%
31 – 40 89 31.2%
41 – 50 63 22.1%
51 – above 15 5.3%
Total 285 100.0%

1.1.Age
Table 1.1 shows that one hundred eighteen (118) or forty-
one point four percent (41.4%) are twenty-one (21) to thirty (30)
years old, eighty-nine (89) or thirty-one point two percent
(31.2%) are thirty-one (31) to forty (40) years old, sixty-three (63)
or twenty-two point one percent (22.1%) of the respondents are
forty-one (41) to fifty (50) years old, and fifteen (15) or five point
three percent (5.3%) of the respondents are fifty-one (51) years
old and above.
The data show that respondents aged from 21 to 30 years
obtained the highest frequency, while the respondents aged 51
years and above obtained the lowest frequency. According to
Mogo (2018), credit card become more convenient form of
payment at the age of 25.

Table 1.2.
Gender of Respondents
Gender Frequency Percentage
Male 138 48.4%
Female 147 51.6%
Total 285 100.0%
1.1.Gender
Table 1.2 shows that one hundred thirty-eight (138) or
forty-eight point four percent (48.4%) of the respondents are
male, and one hundred forty-seven (147) or fifty-one point six
percent (51.6%) of the respondents are female.
The data show that female respondents obtained the
highest frequency, while the male respondents obtained the
lowest frequency. According to Welsh (2017), female makes a lot
of purchase using credit card.
Table 1.3.

Civil Status of Respondents

Civil Status Frequency Percentage
Single 173 60.7%
Married 112 39.3%
Total 285 100.0%
1.2.Civil Status
Table 1.3 shows that one hundred seventy-three (173) or
sixty point seven percent (60.7%) of the respondents are single,
while one hundred twelve (112) or thirty-nine point three percent
(39.3%) of the respondents are married.
The data show that the respondents who are single
obtained the highest frequency, while the respondents who are
married obtained the lowest frequency. According to Joifin
(2017), single individuals have more freedom in spending
money. They do not have the same level of responsibilities
compared to married individuals.
Table 1.4.

Occupational Sector of Respondents
Occupational Frequency Percentage

Sector
Private 216 75.8%
Government 36 12.6%
Self-employed 33 11.6%
Total 285 100.0%
1.1.Occupational Sector
Table 1.4 shows that two hundred sixteen (216) or seventy-
five point eight percent (75.8%) of the respondents are working on
private sectors, thirty-six (36) or twelve point six percent (12.6%)
of the respondents are working in the government, and thirty-three
(33) or eleven point six percent (11.6%) of the respondents are
self-employed.
The data show that the respondents working on private
sector obtained the highest frequency, while the respondents that
are self-employed obtained the lowest frequency. According to

Johnson (2018), credit card is used as a form of payment and it
has a lot of benefit.
Table 1.5.
Monthly Salary of Respondents
Monthly Salary Frequency Percentage
₱ 10 000 – 30 000 101 35.4%
₱ 31 000 – 50 000 83 29.1%
₱ 51 000 – 70 000 70 24.6%
₱ 71 000 or above 31 10.9%
Total 285 100.0%
1.1.Monthly Salary
Table 1.5 shows that one hundred one (101) or thirty-five
point four percent (35.4%) of the respondents have monthly salary
of ten thousand pesos (₱ 10 000) to thirty thousand pesos (₱ 30
000), eighty- three (83) or twenty-nine point one percent (29.1%)
of the respondents have monthly salary of thirty-one thousand
pesos (₱ 31 000) to fifty thousand pesos (₱ 50 000), seventy (70)
or twenty-four point six percent (24.6%) of the respondents have

monthly salary of fifty-one thousand pesos (₱ 51 000) to seventy
thousand pesos (₱ 70 000), and thirty-one (31) or ten point nine
percent (10.9%) of the respondents have monthly salary of
seventy-one thousand pesos (₱ 71 000) and above.
The data show that the respondents who have monthly
salary of ten thousand pesos (₱ 10 000) to thirty thousand pesos
(₱ 30 000) obtained the highest frequency, while the respondents
who have monthly salary of fifty-one thousand pesos (₱ 51 000)
to seventy thousand pesos (₱ 70 000) obtained the lowest
frequency. According to Adrian (2017), having a source of income
is a requirement in having credit card. Many credit card companies
offer a low monthly income requirements.
Table 1.6.

Total Credit Limit of Respondents

Total Credit Limit Frequency Percentage
₱ 51 000 – 100 000 174 61.1%
₱ 10 000 – 50 000 67 23.5%
₱ 101 000 or above 44 15.4%
Total 285 100.0%
1.1. Total Credit Limit
Table 1.6 shows that one hundred seventy four (174) or
sixty-one point one percent (61.1%) of the respondents have
credit limit of ten thousand pesos (₱ 10 000) to fifty thousand
pesos (₱ 50 000), sixty-seven (67) or twenty-three point five
percent (23.5%) of the respondents have credit limit of fifty-one
thousand pesos (₱ 51 000) to one hundred thousand pesos (₱
100 000), and forty-four (44) or fifteen point four percent (15.4%)
of the respondents have credit limit of one hundred one thousand
pesos (₱ 101 000) and above.

The data show that the respondents who have credit limit of
ten thousand pesos (₱ 51 000) to fifty thousand pesos (₱ 100 000)
obtained the highest frequency, while the respondents who have
credit limit of one hundred one thousand pesos (₱ 101 000) and
above obtained the lowest frequency. According to Zoleta (2018),
it depends on the credit score of the consumer how much is the
credit limit.
2. Information on Credit Card Usage
The data in this section contains the information of the
respondents regarding their credit card usage, such as the
number of credit cards, frequency of utilization, amount
spending, reason to apply for credit card and length of card
holding.

Table 2.1.
Number of Credit Cards
Number of Credit Cards Frequency Percentage
1–2 227 79.6%
3–4 47 16.5%
5 – 10 11 3.9%
Total 285 100.0%
2.1.Number of Credit Cards
Table 2.1 shows that two hundred twenty seven (227) or
seventy-nine point six percent (79.6%) of the respondents have
one (1) to two (2) credit cards, forty-seven (47) or sixteen point
five percent (16.5%) of the respondents have three (3) to four (4)
credit cards, and eleven (11) or three point nine percent (3.9%) of
the respondents have five (5) to ten (10) credit cards.
The data show that respondents who have one (1) to two
(2) credit cards obtained the highest frequency, while the
respondents who have five (5) to ten (10) credit cards obtained
the lowest frequency. According to Konsko (2018), having one or

two credit card is beneficial in order to easily keep track of your
spending.
Table 2.2.
Frequency on Using Credit Card
Frequency on Using Credit Card Frequency Percentage
Everyday 16 5.6%
2 – 6 times a week 57 20.0%
Never 0 0%
Once a month 100 35. 1%
2 – 3 times a month 112 39.3%
Total 285 100.0%
2.2.Frequency on Using Credit Card
Table 2.2 shows that sixteen (16) or five point six percent
(5.6%) of the respondents use credit cards everyday, fifty-seven
(57) or twenty percent (20%) of the respondents use credit cards
two (2) to six (6) times a week, one hundred (100) or thirty-five
point one percent (35.1%) of the respondents use credit cards
once a month, and one hundred twelve (112) or thirty-nine point

three percent (39.3%) of the respondents use credit cards two (2)
to three (3) times a month.
The data show that respondents who use their credit card
two (2) to three (3) times a month obtained the highest frequency,
while respondents who use credit cards everyday obtained the
lowest frequency. According to Campbell (2018), credit card can
help in emergency situations.
Table 2.3.
Reason to Apply for Credit Card
Reason to Apply for Credit Card Frequency Percentage
Discounts 83 29.1%
Free Gifts 10 3.5%
Convenience as payment 105 36.8%
Other reason(s) 87 30.5%
Total 285 100.0%
2.3.Reason to Apply for Credit Card
Table 2.3 shows that eighty-three (83) or twenty-nine point
one percent (29.1%) of the respondents apply credit card in order

to get discounts during shopping, ten (10) or three point five
percent (3.5%) of the respondents apply for credit card to get free
gifts, one hundred five (105) or thirty-six point eight percent
(36.8%) of the respondents apply because credit card is
convenient to make payments, and eighty-seven (87) or thirty
point five percent (30.5%) of the respondents have other reasons.
The data show that respondents who apply for credit card
because it is convenient to make payments obtained the highest
frequency, while the respondents who apply for credit card in
order to get free gifts obtained the lowest frequency. According to
Irby (2018), online purchase is more convenient it easier to the
consumer to buy items.
Table 2.4.

Amount of Payment Using Credit Card Monthly
Amount of Payment Using Credit Card Frequency Percentage

Below ₱ 10 000 157 55.1%
₱ 11 000 – 20 000 65 22.8%
₱ 21 000 – 30 000 35 12.3%
₱ 31 000 and above 28 9.8%
Total 285 100.0%
2.4. Amount of Payment Using Credit Card Monthly
Table 2.4 shows that one hundred fifty seven (157)
or fifty-five point one percent (55.1%) of the respondents
spend below ten thousand pesos (₱ 10 000), sixty-five (65)
or twenty-two point eight percent (22.8%) of the
respondents spend eleven thousand pesos (₱ 11 000) to
twenty thousand pesos (₱ 20 000), thirty-five (35) or twelve
point three percent (12.3%) spend twenty-one thousand
pesos (₱ 21 000) to thirty thousand pesos (₱ 30 000), and
twenty-eight (28) or nine point eight percent (9.8%) spend
thirty-one thousand pesos (₱ 31 000) and above.

The data show that respondents who spend below
ten thousand pesos (₱ 10 000) obtained the highest
frequency, while the respondents who spend thirty-one
thousand pesos (₱ 31 000) and above obtained the lowest
frequency. According to Peterson (2018), the willingness to
pay using credit card is depend on the spending habit of
the consumer.
Table 2.5.
Reason to Use Credit Card
Reason to Use Credit Card Frequency Percentage
Travel 64 22.5%
Groceries 96 33.7%
Medical 3 1.1%
Insurance 4 1.4%
Entertainment 11 3.9%
Meals 4 1.4%
Utilities 38 13.3%
Online Shopping 65 22.8%
Total 285 100.0%
2.5. Reason to Use Credit Card

Table 2.5 shows that sixty-four (64) or twenty-two point five
percent (22.5%) of the respondents use credit card for travel,
ninety-six (96) or thirty-three point seven percent (33.7%) of the
respondents use it for groceries, three (3) or one point one percent
(1.1%) use it for medical purpose, four (4) or one point four percent
(1.4%) use it on insurance, eleven (11) or three point nine percent
(3.9%) of the respondents use it on entertainment, four (4) or one
point four percent (1.4%) use it on paying meals, thirty-eight (38)
or thirteen point three percent (13.3%) use credit card for utilities,
and sixty-five (65) or twenty-two point eight percent (22.8%) of the
respondents use credit card on online shopping.
The data show that respondents who use credit card on
groceries obtained the highest frequency, while the respondents
who use credit card on medical purpose obtained the lowest
frequency. According to Egan (2018), purchase in groceries can
help maximize rewards.

Table 2.6.
Length of Credit Card Usage
Length of Credit Card Usage Frequency Percentage
1 – 3 years 144 50.5%
4 – 6 years 93 32.6%
More than 7 years 48 16.8%
Total 285 100.0%
2.6.Length of Credit Card Usage
Table 2.6 shows that one hundred forty-four (144) or fifty
point five percent (50.5%) of the participants have been using
credit card for one (1) to three (3) years, ninety-three (93) or thirty-
two point six percent (32.6%) have been using credit card for four
(4) to six (6) years, and forty-eight (48) or sixteen point eight
percent (16.8%) have been using it for more than seven (7) years.
The data show that participants who have been using credit card
for one (1) to three (3) years obtained the highest frequency, while
participants who have been using credit card for more than seven (7)
years obtained the lowest frequency. According to Zoleta (2018),

credit companies offer a credit card with the consumer that just
started working or do not have credit card. They offer low income
requirement.
3. Extent of debt management practiced by credit card users
This section contains data about respondent’s credibility on
the extend of debt management practices, wherein gathered
information shows the credibility of the users in managing their
credit card holdings.
Table 3.1.
Credit Worthiness
Indicator of Credit Worthiness Mean Verbal Interpretation
Can you pay on time? 3.77 Highly practiced

Are you having difficulty in paying your credit card 2.46 Poorly practiced
debt?
Do you have a good credit rating? 3.58 Highly practiced
Do you experience upgrades in credit card because 3.33 Moderately practiced

of good credit standing?
Do credit company communicate your unpaid 3.04 Moderately practiced
balance?
Composite of Credit Worthiness 3.24 Moderately Practiced
Note: 3.50-4.00 Highly Practiced; 2.50-3.49 Moderately Practiced; 1.50-2.49 Poorly

Practiced; and 1.00-1.49 Not Practiced
3.1.Credit Worthiness
Table 3.1 shows that respondents assessed the extent of
Credit Worthiness as “Moderately Practiced” with a composite
mean of 3.24. The individual indicators of “Credit Worthiness”
were assessed by the respondents as follows: the indicator “Can
you pay on time?” obtained a mean of 3.77 which is interpreted as
“Highly Practiced”, the indicator “ Are you having difficulty in
paying your credit card debt?” obtained a mean of 2.46 which is
interpreted as “ Poorly Practiced”, the indicator “Do you have a
good credit rating?” obtained a mean of 3.58 which is interpreted
as “Highly Practiced”, the indicator “Do you experience upgrades

in credit card because of credit standing?” obtained a mean of
3.33 which is interpreted as “Moderately Practiced” and the
indicator “Do credit card company communicate your unpaid
balance?” obtained a mean of 3.04 which is also interpreted as
“Moderately Practiced”.
The indicator “Can you pay on time?” got the highest mean
value of 3.77 and the indicator “Are you having difficulty in paying
your credit card debt?” got the lowest mean value of 2.46.
The findings reveal that credit worthiness was evaluated as
moderately practiced. This implies that paying on time could raise
your credit worthiness, similar to the view of Irby (2018),
consistency in tracking his/her credit score is the key to stay on
top of his/her creditworthiness.
Table 3.2.
Ability to Pay
Indicator of Ability to Pay Mean Verbal Interpretation
Do you have enough income to pay your 3.72 Highly practice

debt?

Do you pay your loan immediately? 3.63 Highly practice
Do you only use your credit card when you 3.64 Highly practice
need it?
Do you monitor when you will pay your debt? 3.60 Highly practice
Do you consider on minimum payment? 3.42 Moderately practiced
Composite of Ability to Pay 3.60 Highly Practiced

3.2.Ability to Pay
Table 3.2 shows that respondents assessed the extent of
Ability to Pay as “Highly Practiced” with composite mean of 3.60.
The individual indicators of “Ability to Pay” were assessed by the
respondents as follows: the indicator “Do you have enough
income to pay your debt?” obtained a mean of 3.72 which is
interpreted as “Highly Practiced”, indicator “Do you pay your loan
immediately?” obtained a mean of 3.63 which is interpreted as
“Highly Practiced”, the indicator “Do you only use your credit card
when you need it?” obtained a mean of 3.64 which is interpreted
as “Highly Practiced” indicator “Do you monitor when you will pay

your debt?” obtained a mean of 3.60 which is interpreted as
“Highly Practiced”, and the indicator “ Do you consider paying on
minimum payment?” obtained a mean of 3.42 which is also
interpreted as “Moderately Practiced”.
The indicator “Do you have enough income to pay your
debt?” obtained the highest mean value of 3.72 while the indicator
“Do you consider paying on minimum payment?” got the lowest
mean value of 3.42.
The findings reveal that having an enough income to pay
debt was evaluated as highly practiced. This implies that it is
better to pay debt in full if one has enough income to pay for it.
Similar to the view of Irby (2018), one can get some benefits in
paying in full every month, can take advantage of the grace period
given to you and it can avoid the card user from paying interest.
Table 3.3.
Credit Limit

Indicator of Credit Limit Mean Verbal Interpretation
Are you well informed of your credit 3.79 Highly practice

limit?
Do you monitor how much you 3.52 Highly practice
already spend on credit card?
Do you consider a balance transfer 3.26 Moderately practiced
to buy more time in paying your
debts?
Do you go beyond your credit limit? 1.97 Poorly practiced
Do you immediately pay your credit 3.25 Moderately Practiced

upon over limit?
Composite of Credit Limit 3.16 Moderately Practiced
3.3.Credit Limit
Table 3.3 shows that the respondents assessed the extent
of Credit Limit as “Moderately Practiced” with a composite mean
of 3.16. The individual indicators of “Credit Limit” were assessed
by the respondents as follows: indicator “Are you well informed of
your credit limit?” obtained a mean of 3.79 which is interpreted as
“Highly Practiced”, indicator “Do you monitor how much you
already spend on credit card?” obtained a mean of 3.52 which is
interpreted as “Highly Practiced”, the indicator “Do you consider a

balance transfer to buy more time in paying your debts?” obtained
a mean of 3.26 which is interpreted as “Moderately Practiced”,
indicator “Do you go beyond your credit limit?” obtained a mean
of 1.97 which is interpreted as “Poorly Practiced” and the indicator
“Do you immediately pay your credit upon over limit?” obtained a
mean of 3.25 which is interpreted as “Moderately Practiced”.
The indicator “Are you well informed of your credit limit?”
obtained the highest mean value of 3.79 and the indicator “Do you
go beyond your credit limit?” obtained the lowest mean value of
1.97.
The findings reveal that being informed about credit limit
was evaluated as moderately practiced. An indicator that being
well informed of credit limitation will help one to know how to
balance his/her spending. Similar to the view of Irby (2018), the
credit limit that credit card users have may not stay on the entire
time. If they use their credit card wisely and make their monthly

payments on time, they can be approved for periodic credit limit
increases, sometimes without having to request a credit limit
increase.
Table 3.4.
Interest and Rewards
Indicator of Interest and Rewards Mean Verbal Interpretation
Are the interest rates charged on credit 3.25 Moderately Practiced

card are reasonable?
The interest is imposed at the current 3.25 Moderately Practiced
interest rate.
Interest will be charged if my payment 3.29 Moderately Practiced
by the payment due date is less than
the total balance due.
Do you use your reward as payment? 3.03 Moderately Practiced

Do you consider increase consumption 2.18 Poorly Practiced

because of reward points?
Composite of Interest and Rewards 3.00 Moderately Practiced
3.4.Interest and Rewards
of Interest and Rewards as “Moderately Practiced” with a
composite mean of 3.00. The individual indicators of “Interest and
Rewards” were assessed by the respondents as follows: the
indicator “Are the interest rates charged on credit card are
reasonable?” obtained a mean of 3.25 which is interpreted as
“Moderately Practiced”, the indicator “The interest is imposed at
the current interest rate” obtained a mean of 3.25 which is
interpreted as “Moderately Practiced”, indicator “Interest will be
charge if my payment by the payment due date is less that the
total balance due” obtained a mean of 3.29 which is interpreted as
“Moderately Practiced”, the indicator “Do you use your reward as

payment?” obtained a mean of 3.03 which is interpreted as
“Moderately Practiced” and the indicator “Do you consider
increase consumption because of reward points?” obtained a
mean of 2.18 which is interpreted as “Poorly Practiced”.
The indicator “Interest will be charged if my payment by the
payment due date is less than the total balance due” got the
highest mean value of 3.29 and the indicator “Do you consider
increase consumption because of reward points?” got the lowest
mean value of 2.18.
The findings reveal that increasing consumption because
of reward points was evaluated as moderately practiced. This
implies that because of rewards that credit card users could get
they tend to increase their consumption which is similar to the view
of Irby (2018). Rewards are given base on spending dollar for
example, one point per dollar. Points can typically be redeemed
for merchandise in the reward program’s online shopping mall.

Depending on the card issuer, they may also be able to redeem
their points for gift cards, cash, or even travel.
Table 3.5.
Satisfactory of Credit Card Company
Indicator of Satisfactory of Credit Card Company Mean Verbal

Interpretation
Are credit card billing statements accurate? 3.72 Highly Practiced

Is overspending the fault of consumers, not of the 3.60 Highly Practiced

credit card companies?
Do credit card companies make it hard for people to 3.05 Moderately
get out of debts? Practiced
Do credit card companies show enough concern for 3.23 Moderately
protecting consumers’ privacy? Practiced
Do you trust your credit card company that will keep 3.49 Moderately
your personal spending information confidential? Practiced
Composite of Satisfactory of Credit Card Company 3.42 Moderately

Practiced
Practiced; and 1.00-1.49 Not Practice
3.5.Satisfactory of Credit Card Company
of Satisfactory of Credit Card Company as “Moderately Practiced”
with a composite mean of 3.42. The individual indicators of
“Satisfactory of Credit Card Company” were assessed by the
respondents as follows; the indicator “Are credit card billing
statements accurate?” obtained a mean of 3.72 which is
interpreted as “Highly Practiced”, indicator “Is overspending the
fault of consumers, not of the credit card companies?” obtained a
mean of 3.60 which is interpreted as “Highly Practiced”, the

indicator “Do credit card companies make it hard for people to get
out of debts?” obtained a mean of 3.05 which is interpreted as
“Moderately Practiced”, the indicator “Do credit card companies
show enough concern for protecting consumers privacy?”
obtained a mean of 3.23which is interpreted as “Moderately
Practiced” and the indicator “Do you trust your credit card
company that will keep your personal spending information
confidential?” obtained a mean of 3.49 which is also interpreted
as “Moderately Practiced”.
The indicator “Are credit card billing statements accurate?”
obtained the highest mean value of 3.72 while indicator “Do credit
card companies make it hard for people to get out of debts? ”
obtained the lowest mean value of 3.05.
The findings reveal that credit card companies make it hard for
the people to get out of debt which is similar to the view of Irby
(2018). In the past, credit card companies are so hungry for

college students, they approve applications even if they do not
have a job.
4. Significant difference in debt management practiced by
credit card users when grouped according to the profile
This section contains data of the significant difference of
the credit card user’s debt management according to the profile.
The gathered data shows whether users grouped according to
age, gender, civil status, occupational sector, and salary have
difficulty in paying debt or credibility to manage the card
holdings.
Table 4.1
Differences in the extent of practice for credit worthiness in

regard to age group
Variable F Sig. Decision Interpretation
Creditworthiness Value Value on H0

Can you pay on time? .287 .835 Accept H0 Not

Significant
Are you having difficulty in 3.667 .013 Reject H0 Significant
paying your credit card debt?
Do you have a good credit .181 .909 Accept H0 Not
rating? Significant
Do you experience upgrades in .680 .565 Accept H0 Not
credit card because of good Significant
credit standing?
Do credit company .106 .957 Accept H0 Not
communicate your unpaid Significant
balance?
Note: Significant at 0.05 and below
4.1.Credit Worthiness regarding Age Group
Based on the table above the researchers compared
differences in the evaluation of the respondents on the extent of
credit card debt management practices, specifically to the credit
worthiness, when grouped according to age using One-way
ANOVA. The results show that the records obtained significant-
values greater than the 0.05 level of significance set for the study,
thus the null hypothesis is accepted. Except for the records lower
than 0.05 level of significance set by the study, thus the
hypothesis is rejected.

Regardless of the age people reply on credit cards. As you
grow older, your consumption also increase (Leonhart, 2018)
Table 4.1.1
Post Hoc Analysis of the Significant Difference

Variable Age Age Bracket Sig. Value Interpretation
Are you having 21-30 31-40 .711 Not Significant
difficulty in 41-50 .956 Not Significant
paying your 51-above .068 Not Significant
credit card debt? 31-40 21-30 .711 Not Significant
41-50 .501 Not Significant
51-above .017 Significant
41-50 21-30 .956 Not Significant
51-above .170 Not Significant
51- 21-30 .068 Not Significant
above 31-40 .017 Significant
Table 4.1.1 Post Hoc Analysis regarding Age Group
Based on the table above, there is a significant difference
in credit worthiness. The result shows that the records obtained

with significant difference less than 0.05 level of significance set
for the study, thus the null is rejected.
According to (Hankinson, 2017) age 30-40 and 51 above
having difficulty in paying debt due to low paying jobs and
expensive expenses.
Table 4.2
Differences in the extent of practice for ability to pay in

regard to age group
Variable F. Sig. Decision Interpretation
Ability to pay Value Value on H0
Do you have enough income .187 .905 Accept H0 Not Significant
to pay your debt?
Do you pay your loan 1.658 .176 Accept H0 Not Significant
immediately?
Do you only use your credit 1.533 .206 Accept H0 Not Significant
card when you need it?
Do you monitor when you 1.340 .261 Accept H0 Not Significant
will pay your debt?
Do you consider on 5.759 .001 Reject H0 Significant
minimum payment?
4.2.Ability to Pay regarding Age Group

credit card debt management practices, specifically to the ability
to pay, when grouped according to age, using One-way ANOVA.
The results shows that the records obtained significant-values
greater than the 0.05 level of significance set for the study, thus
the null hypothesis is accepted. Except for the records lower than
0.05 level of significance set by the study, thus the hypothesis is
rejected.
Regardless of the age and how much the credit card debt
you have, it does not affect the ability to pay if paying the debt is
not your priority (Leonhart, 2018).
Table 4.2.1

Variable Age Age Sig. Value Interpretation

Bracket
Do you 21-30 31-40 .744 Not Significant
consider 41-50 .008 Significant
on 51-above .047 Significant
minimum 31-40 21-30 .744 Not Significant
payment 41-50 .141 Not Significant
? 51-above .177 Not Significant
41-50 21-30 .008 Significant
51-above 21-30 .047 Significant
in abilioty to pay. The result shows that the records obtained with
significant difference less than 0.05 level of significance set for the
study, thus the null is rejected.
If one is only paying at the minimum, it will take a lot of time
to pay off his/her debts (Caldwell, 2016).
Table 4.3

Differences in the extent of practice for credit limit in regard

to age group
Variable F. Sig. Decision on Interpretation
Credit Limit value Value H0
Are you well informed of your 1.022 .383 Accept H0 Not Significant
credit limit?
Do you monitor how much you .939 .422 Accept H0 Not Significant
Do you consider a balance 3.924 .009 Reject H0 Significant

transfer to buy more time in
paying your debts?
Do you go beyond your credit .380 .767 Accept H0 Not Significant

limit?
Do you immediately pay your 3.352 .019 Reject H0 Significant

credit upon over limit?
4.3.Credit Limit regarding Age Group
limit, when grouped according to age, using One-way ANOVA.

the null hypothesis is accepted. Except for the records lower than
0.05 level of significance set by the study, thus the hypothesis is
rejected.
Regardless of how much the credit limit you have, the age
does not affect in paying the credit card debt. It depends on how
the responsible use of credit card (Josephson, 2018).
Table 4.3.1


Do you 21-30 31-40 .082 Not Significant

consider a 41-50 .042 Significant
balance 51-above 1.000 Not Significant
transfer to buy 31-40 21-30 .082 Not Significant
more time in 41-50 .966 Not Significant
paying your 51-above .594 Not Significant
debts? 41-50 21-30 .042 Significant
51- 21-30 1.000 Not Significant
above 31-40 .594 Not Significant
in credit limit, when group according to age. The result shows that
the records obtained with significant difference less than 0.05 level
of significance set for the study, thus the null is rejected.
According to (Irby, 2018) Transferring a balance to a credit
card with a lower interest rate will give you a chance to make a
bigger dent in your credit card balance.
Table 4.3.2


Do you 21-30 31-40 .023 Significant
immediately pay 41-50 .739 Not Significant
your credit upon 51-above 1.000 Not Significant
over limit? 31-40 21-30 .023 Significant
51-above 21-30 1.000 Not Significant
in credit limit, when group according to age. The result shows that
the records obtained with significant difference less than 0.05 level
of significance set for the study, thus the null is rejected.
According to (Sandberg, 2016) in order to build a good
credit line you must pay your debt immediately.
Table 4.4

Differences in the extent of practice for Interest and Reward

in regard to age group
Variable F. Value Sig. Decision on Interpretation

Interest and Reward Value H0
Are the interest rates 1.283 .280 Accept H0 Not Significant
charged on credit card are
reasonable?
The interest is imposed at 1.336 .263 Accept H0 Not Significant
the current interest rate.
Interest will be charged if my 1.111 .345 Accept H0 Not Significant
payment by the payment
due date is less than the
total balance due.
Do you use your reward as 2.125 .097 Accept H0 Not Significant
payment?
Do you consider increase 2.101 .100 Accept H0 Not Significant
consumption because of
reward points?
4.4. Interest and Rewards regarding Age Group
credit card debt management practices, specifically to the interest
and rewards, when grouped according to age using One-way

ANOVA. The results shows that the records obtained significant-
thus the null hypothesis is accepted.
Regardless on the age of the consumer, it does not affect
the increase in consumption because of interest and
rewards.The company should have a better freebies and
rewards to increase the consumption of the consumer (Power,
2018).
Table 4.5
Differences in the extent of practice for satisfactory of credit

company in regard to age group
Satisfactory of credit company Value Value on H0
Are credit card billing statements .358 .783 Accept H0 Not Significant
accurate?
Is overspending the fault of 3.652 Reject H0 Significant
consumers, not of the credit card .013
companies?

Do credit card companies make it .327 .806 Accept H0 Not Significant

hard for people to get out of
debts?
Do credit card companies show 1.354 .257 Accept H0 Not Significant
enough concern for protecting
consumers’ privacy?
Do you trust your credit card 3.004 .031 Reject H0 Significant
company that will keep your
personal spending information
confidential?
4.5. Satisfactory of Credit Company regarding Age Group
Based on the table above, the researchers compared
credit card debt management practices, specifically to the
satisfactory of credit company, when grouped according to the
age using One-way ANOVA. The results shows that the records
obtained significant-values greater than the 0.05 level of
significance set for the study, thus the null hypothesis is
accepted. Except for the records lower than 0.05 level of
significance set by the study, thus the hypothesis is rejected.

Regardless on the age of the consumer, it does not affect
if the consumer will be satisfied in the service of the credit
company. It should have new products that offer rich sign-up
bonuses, increased cash-back rewards and new benefits. The
company should have a competitive marketplace to develop
strategies that may have increase consumer consumption
(Power, 2018).
Table 4.5.1

Is overspending 21-30 31-40 .023 Significant
the fault of 41-50 .382 Not Significant
consumers, not 51-above .410 Not Significant
of the credit card 31-40 21-30 .023 Significant
companies? 41-50 .808 Not Significant

51-above 1.000 Not Significant

51-above 21-30 .410 Not Significant
31-40 1.000 Not Significant
in satisfactory of credit company. The result shows that the
records obtained with significant difference less than 0.05 level of
significance set for the study, thus the null is rejected.
According to (Lim, 2014) irresponsible use of credit card
can lead to overspending.
Table 4.5.2

Do you trust your 21-30 31-40 .113 Not Significant
credit card company 41-50 .148 Not Significant

that will keep your 51-above .483 Not Significant

personal spending 31-40 21-30 .113 Not Significant
information 41-50 1.000 Not Significant
confidential? 51-above .993 Not Significant
31-40 1.000 Not Significant
51- 21-30 .483 Not Significant
above 31-40 .993 Not Significant
According to (Jordaan, 2014) studies have shown that
consumer concern about information privacy may impact on
consumer behaviour in ways directly opposed to the aims of the
very marketing campaigns developed to increase sales
Table 4.6


regard to gender
Variable F. Sig. Value Decision on Interpretation
Credit Worthiness Value H0
Can you pay on time? .222 .638 Accept H0 Not Significant
Are you having difficulty 1.875 .172 Accept H0 Not Significant

in paying your credit
card debt?
Do you have a good 1.166 .281 Accept H0 Not Significant
credit rating?
Do you experience .586 .445 Accept H0 Not Significant
upgrades in credit card
because of good credit
standing?
Do credit company 1.399 .238 Accept H0 Not Significant
communicate your
unpaid balance?
4.6. Credit Worthiness regarding Gender
worthiness, when grouped according to gender using One-way
ANOVA. The result shows that the records obtained significant-

Regardless of the credit standing, it does not affect in the
gender. To benefit a good credit health is not limited to gender,
age, income (Szczypinski, 2018).
Table 4.7

regard to gender


Ability to pay Value Value H0
Do you have enough income to pay .828 .364 Accept H0 Not Significant
your debt?
Do you pay your loan immediately? .033 .857 Accept H0 Not Significant
Do you only use your credit card .112 .739 Accept H0 Not Significant
when you need it?
Do you monitor when you will pay .133 .715 Accept H0 Not Significant
your debt?
Do you consider on minimum 6.281 .013 Reject H0 Significant
payment?
4.7. Ability to Pay regarding Gender
to pay, when grouped according to gender using One-way
ANOVA. The result shows that the records obtained significant-
Regardless of the gender, it does not affect the ability to
pay of the person if paying the debt is not the priority. The ability
to manage finances is budgeting. It is a key ingredient in keep on

track of your finances to monitor the income and expenses (King,
2017).
Table 4.7.1
Variable Gender Sig. Value Interpretation

Do you consider on Female .013 Significant
minimum payment? Male .012 Significant
Table 4.7.1 Post Hoc Analysis regarding gender
in Ability to pay, when group according to Gender. The result
shows that the records obtained with significant difference less
than 0.05 level of significance set for the study, thus the null is
rejected.
Most of the credit cards only requires minimum payment in
paying debt in a particular month (Elkins, 2018).
Table 4.8


to gender

Credit Limit Value Value on H0
Are you well informed of your .018 .893 Accept H0 Not Significant
credit limit?
Do you monitor how much you 1.084 .299 Accept H0 Not Significant

paying your debts?
Do you go beyond your credit 1.388 .240 Accept H0 Not Significant

limit?
Do you immediately pay your .019 .891 Accept H0 Not Significant

credit upon over limit?
4.8. Credit Limit regarding Gender
limit, when grouped according to gender using One-way ANOVA.

the null hypothesis is accepted.
The higher the credit limit often lead to spend more it
depends on the user (Mayer, 2017).
Table 4.8.1
Variable Gender Sig. Value Interpretation

Do you consider a Female .047 Significant
balance transfer to buy Male .046 Significant
more time in paying
your debts?
Table 4.8.1 Post Hoc Analysis regarding gender
in credit limit, when group according to Gender. The result shows
that the records obtained with significant difference less than 0.05
level of significance set for the study, thus the null is rejected.

Taking into balance transfer can be less-painful way to help
the owner to pay debt. It also enable to have better management
of payment (Kossman, 2017).
Table 4.9
Differences in the extent of practice for interest and rewards

in regard to gender

Interest and Reward Value Value on H0
Are the interest rates charged on .759 .384 Accept H0 Not Significant
credit card are reasonable?
The interest is imposed at the .001 .982 Accept H0 Not Significant
current interest rate.
Interest will be charged if my .014 .905 Accept H0 Not Significant
payment by the payment due date
is less than the total balance due.
Do you use your reward as .018 .893 Accept H0 Not Significant
payment?
Do you consider increase .000 .985 Accept H0 Not Significant
consumption because of reward
points?
4.9. Interest and Rewards regarding Gender

credit card debt management practices, specifically to the interest
and reward, when grouped according to gender using One-way
Many of the credit card users what to minimize the debt.
They choose to have low interest rate credit card so they can pay
their debt easily. It does not affect the gender it depends on the
credit card user (Holmes, 2016).
Table 4.10

company in regard to gender

accurate?
Is overspending the fault of .149 .700 Accept H0 Not Significant
consumers, not of the credit card
companies?
Do credit card companies make it .077 .782 Accept H0 Not Significant
hard for people to get out of
debts?
Do credit card companies show .007 .935 Accept H0 Not Significant
Do you trust your credit card .148 .701 Accept H0 Not Significant
company that will keep your
confidential?
4.10. Satisfactory of Credit Company regarding Gender
worthiness, when grouped according to gender using One-way

The customer satisfaction is a feeling of pleasure or
disappointment resulting from a product or service performance
based to the expectation of the customer. The satisfaction to the
service is unrelated to the gender (Njanike, Mukucha, 2010).
Table 4.11

regard to civil status
Credit Worthiness Value Value on H0
Can you pay on time? 2.707 .101 Accept H0 Not Significant
Are you having difficulty in paying .654 .419 Accept H0 Not Significant
your credit card debt?
Do you have a good credit rating? 1.813 .179 Accept H0 Not Significant
Do you experience upgrades in .000 .993 Accept H0 Not Significant
credit card because of good credit
standing?
Do credit company communicate .000 .994 Accept H0 Not Significant
your unpaid balance?
4.11. Credit Worthiness regarding Civil Status

worthiness, when grouped according to civil status using One-way
Regardless of the civil status, it does not affect in the credit
worthiness. Since credit reports record an individual’s credit
history, being married doesn’t directly change the credit score
(RocketLawyer, 2018).
Table 4.12


regard to civil status
Do you have enough income .444 .506 Accept H0 Not Significant
to pay your debt?
Do you pay your loan .879 .349 Accept H0 Not Significant
immediately?
Do you only use your credit .741 .390 Accept H0 Not Significant
Do you monitor when you will .042 .839 Accept H0 Not Significant
pay your debt?
Do you consider on minimum 5.198 .023 Reject H0 Significant
payment?
4.12. Ability to Pay regarding Civil Status
to pay, when grouped according to civil status using One-way

Regardless of the civil status the ability to pay debt does
not affect civil status. If paying the debt is not your priority
(Leonhart, 2018).
Table 4.12.1
Variable Civil Status Sig. Value Interpretation

Do you consider on Married .047 Significant
minimum payment? Single .046 Significant
Table 4.12.1 Post Hoc Analysis of the Significant Difference
in Ability to pay, when group according to civil status. The result
shows that the records obtained with significant difference less
than 0.05 level of significance set for the study, thus the null is
rejected.
Most of the credit cards only requires minimum payment in
paying debt in a particular month (Elkins, 2018).

Table 4.13

to civil status
Variable F. Sig. Value Decision Interpretation
Credit Limit Value on H0
Are you well informed of 3.070 .081 Accept Not
your credit limit? H0 Significant
Do you monitor how much 2.151 .144 Accept Not

you already spend on H0 Significant
credit card?
Do you consider a .663 .416 Accept Not

balance transfer to buy H0 Significant
more time in paying your
debts?
Do you go beyond your .169 .682 Accept Not

credit limit? H0 Significant
Do you immediately pay .427 .514 Accept Not

your credit upon over H0 Significant
limit?
4.13. Credit Limit regarding Civil Status
to pay, when grouped according to civil status using One-way

The credit limit represent the available credit. By itself, it
doesn't have much impact, but the way you use it have an effect
(Bond, 2018).
Table 4.14

in regard to civil status
The interest is imposed at the 1.152 .284 Accept H0 Not Significant
Interest will be charged if my 1.007 .317 Accept H0 Not Significant
payment by the payment due date
Do you use your reward as .000 .986 Accept H0 Not Significant
payment?
Do you consider increase 1.332 .249 Accept H0 Not Significant
points?

4.14. Interest and Rewards regarding Civil Status
credit card debt management practices, specifically to the Interest
and Reward, when grouped according to civil status using One-
way ANOVA. The results shows that the records obtained
significant-values greater than the 0.05 level of significance set for
the study, thus the null hypothesis is accepted.
Interest and rewards doesn’t affect the in the civil status.
Interest and rewards are an effective way to attract cardholders or
convince existing ones to use a specific card for their purchases
and borrowing needs (Landles, 2013).
Table 4.15


company in regard to civil status
accurate?
Is overspending the fault of .002 .965 Accept H0 Not Significant
companies?
Do credit card companies make it hard .964 .327 Accept H0 Not Significant
for people to get out of debts?
Do credit card companies show 2.328 .128 Accept H0 Not Significant
Do you trust your credit card company .004 .949 Accept H0 Not Significant
that will keep your personal spending
information confidential?
4.15. Satisfactory of Credit Company regarding Civil Status
satisfactory of credit company, when grouped according to civil
status using One-way ANOVA. The results shows that the records

significance set for the study, thus the null hypothesis is accepted.
The satisfactory of credit company does not affect civil
status, It is based on the customer’s feeling of pleasure or
disappointment in the result of the service or product (Njanike,
Mukucha, 2010).
Table 4.16

regard to occupational sector
Can you pay on time? 1.342 .263 Accept H0 Not Significant
Are you having difficulty in paying 1.997 .138 Accept H0 Not Significant
your credit card debt?
Do you have a good credit rating? 1.866 .157 Accept H0 Not Significant
Do you experience upgrades in 1.045 .353 Accept H0 Not Significant

credit card because of good credit
standing?
Do credit company communicate 2.686 .070 Accept H0 Not Significant
your unpaid balance?
4.16. Credit Worthiness regarding Occupational Sector

worthiness, when grouped according to occupational sector using
One-way ANOVA. The result shows that the records obtained
Consumer tend to earn majority of the income through
employment. Job stability is a key to financial stability. However
the lender examine the behaviour in finances if you are paying on
time (Chang, 2018).
Table 4.17

regard to occupational sector


Do you have enough 1.598 .204 Accept H0 Not Significant
income to pay your debt?
Do you pay your loan 2.579 .078 Accept H0 Not Significant
immediately?
Do you only use your credit .960 .384 Accept H0 Not Significant
Do you monitor when you 1.575 .209 Accept H0 Not Significant
will pay your debt?
Do you consider on 2.450 .088 Accept H0 Not Significant
minimum payment?
4.17. Ability to Pay regarding Occupational Sector
to pay, when grouped according to occupational sector using One-
Regardless of the occupation it does not affect the ability to
pay of the borrower. Occupation tells us about the person’s

financial health and creditworthiness. However it depends on the
behavior in finances if the borrower is a good payer (Chang,
2018).
Table 4.18

to occupational sector
Are you well informed of your credit .765 .466 Accept H0 Not
limit? Significant
Do you monitor how much you .876 .417 Accept H0 Not

already spend on credit card? Significant
Do you consider a balance transfer .167 .846 Accept H0 Not

to buy more time in paying your Significant
debts?
Do you go beyond your credit limit? 5.300 .006 Reject H0 Significant

Do you immediately pay your credit 2.997 .052 Accept H0 Not
upon over limit? Significant
4.18. Credit Limit regarding Occupational Sector

limit, when grouped according to occupational sector using One-
Regardless of occupation it does not affect the credit limit.
Credit limit is the maximum amount that you can spend before you
pay. The way you spend and pay affect the credit limit (Harkness,
2018).
Table 4.18.1


Variable Occupational Occupational Sig. Value Interpretation
Sector Sector
Do you go Private Government .199 Not Significant
beyond Self-employed .014 Significant
your credit Government Private .199 Not Significant
limit? Self-employed .650 Not Significant
Self-employed Private .014 Significant
Government .650 Not Significant
Table 4.18.1 Post Hoc Analysis regarding Occupational
Sector
Based on the table above, there is a significant difference in
credit limit. The result shows that the records obtained with
Going over credit limit means one is not able to manage
his/her credit. The credit card issuers may see this unfavorably even
though they allowed the debtor to exceed limit (Irby, 2018).
Table 4.19

Differences in the extent of practice for interest and

rewards in regard to occupational sector
Are the interest rates charged on .116 .891 Accept H0 Not
credit card are reasonable? Significant
The interest is imposed at the current .372 .690 Accept H0 Not
interest rate. Significant
Interest will be charged if my payment 2.658 .072 Accept H0 Not
by the payment due date is less than Significant
the total balance due.
Do you use your reward as payment? 1.298 .275 Accept H0 Not
Significant
Do you consider increase 3.498 .032 Reject H0 Significant
points?
4.19. Interest and Rewards regarding Occupational Sector
credit card debt management practices, specifically to the Interest
and Reward, when grouped according to occupational sector
using One-way ANOVA. The results shows that the records
significance set for the study, thus the null hypothesis is accepted.

Regardless of the occupation, it does not affect in the
interest and reward. The reward can be earn in the purchase
made via credit card (Tsosie, 2017).
Table 4.19.1
Variable Occupational Occupational Sig. Interpretation

Sector Sector Value
Do you consider Private Government .479 Not Significant
increase Self-employed .046 Significant
consumption Government Private .479 Not Significant
because of Self-employed .590 Not Significant
reward points? Self-employed Private .046 Significant
sector
interest and reward. The result shows that the records obtained with

Debt is one thing that has to be aware of besides the rewards on
credit cards. If you are always on rewards, then you should gain a
credit card balance that you cannot pay off (Irby, 2018).
Table 4.20

company in regard to occupational sector
Are credit card billing statements 2.956 .054 Accept H0 Not
accurate? Significant
Is overspending the fault of 4.270 .015 Reject H0 Significant
companies?
Do credit card companies make it 3.272 .039 Reject H0 Significant
hard for people to get out of debts?
Do credit card companies show 4.572 .011 Reject H0 Significant
Do you trust your credit card 2.291 .103 Accept H0 Not
company that will keep your Significant
confidential?
4.20. Satisfactory of Credit Company regarding
Occupational Sector

satisfactory of credit company, when grouped according to
occupational sector using One-way ANOVA. The results show
that the records obtained significant-values greater than the 0.05
level of significance set for the study, thus the null hypothesis is
accepted.
The customer’s satisfaction is based on the expectation in
the product or service, it does not affect the occupation of the
customer (Njanike, Mukucha, 2010).
Table 4.20.1


Variable Occupatio Occupational Sig. Interpretation
nal Sector Sector Value
Is Private Government .203 Not Significant
overspendin Self-employed .127 Not Significant
g the fault of Governme Private .203 Not Significant
consumers, nt Self-employed .015 Significant
not of the Self- Private .127 Not Significant
credit card employed Government .015 Significant
companies?
Sector
satisfactory of credit company. The result shows that the records
obtained with significant difference less than 0.05 level of
Overspending by using credit card is easy. Just go to a store
to buy something, and before you know it, you already spent ten
times of budget (Irby, 2018).
Table 4.20.2


Sector Sector Value
Do credit card Private Government .042 Significant
companies Self-employed .999 Not Significant
make it hard for Government Private .042 Significant
people to get Self-employed .162 Not Significant
out of debts? Self-employed Private .999 Not Significant
Sector
According to (Carmella, 2017) the reason why consumer pay
late is the unexpected additional payment.
Table 4.20.3


Sector Sector Value
Do credit card Private Government .038 Significant
companies Self-employed .156 Not Significant
show enough Government Private .038 Significant
concern for Self-employed .916 Not Significant
protecting Self-employed Private .156 Not Significant
consumers’ Government .916 Not Significant
privacy?
Sector
According to (Jordaan, 2016) A few studies have shown that
consumer concern about information privacy may impact on
consumer behaviour in ways directly opposed to the aims of the very
marketing campaigns developed to increase sales.
Table 4.21


regard to monthly salary
Significant
Are you having difficulty in paying 2.490 .061 Accept H0 Not
your credit card debt? Significant
Do you have a good credit rating? .798 .496 Accept H0 Not
Significant
credit card because of good credit Significant
standing?
Do credit company communicate 1.477 .221 Accept H0 Not
your unpaid balance? Significant
4.21. Credit Worthiness regarding Monthly Salary
worthiness, when grouped according to salary per month using
One-way ANOVA. The results show that the records obtained

Higher income means more money available in repayment.
Income does not directly affect the credit score but it does affect
the ability to get a loan approval (Pritchard, 2018).
Table 4.22

regard to monthly salary
Ability to pay Value Value on H0
Do you have enough 1.618 .185 Accept H0 Not Significant
income to pay your debt?
immediately?
Do you only use your 2.790 .041 Reject H0 Significant
credit card when you
need it?
Do you monitor when 1.741 .159 Accept H0 Not Significant
you will pay your debt?
Do you consider on 047 .987 Accept H0 Not Significant
minimum payment?
4.22 Ability to Pay regarding Monthly Salary

worthiness, when grouped according to salary per month using
One-way ANOVA. The results show that the records obtained
Regardless of the income it does not affect on how it will
be helpful in predicting the future repayment (Peterson, 2012).
Table 4.22.1
Variable Monthly Monthly Sig. Value Interpretation

Salary Salary
Do you only use 10 000-30 31 000-50 000 .117 Not Significant
your credit card 000 51 000-70 000 .114 Not Significant
when you need 71 000-above .806 Not Significant
it? 31 000-50 10 000-30 000 .117 Not Significant
000 51 000-70 000 1.000 Not Significant
71 000-above .905 Not Significant
51 000-70 10 000-30 000 .114 Not Significant
000 31 000-50 000 1.000 Not Significant
71 000- 10 000-30 000 .806 Not Significant
above 31 000-50 000 .905 Not Significant
51 000-70 000 .878 Not Significant
Table 4.22.1 Post Hoc Analysis regarding Monthly Salary

ability to pay. The result shows that the records obtained with
It is advised to use one’s credit card at least once to thrice a
month in order to keep credit card active without having risk of being
in a lot of debt (Irby, 2018).
Table 4.23

Differences in the extent of practice for credit limit in regard to

monthly salary
Are you well informed of your .360 .782 Accept H0 Not
credit limit? Significant
Do you monitor how much you 1.426 .235 Accept H0 Not

paying your debts?
Do you go beyond your credit .527 .664 Accept H0 Not

limit? Significant
Do you immediately pay your 610 .609 Accept H0 Not

credit upon over limit? Significant
4.23 Credit Limit regarding Monthly Salary
limit, when grouped according to salary per month using One-way
ANOVA. The results show that the records obtained significant-

thus the null hypothesis is accepted.Except for the records lower
Credit limit is the maximum amount of money that are
allowed in a given time. There is no guarantee that the high
income will result with a high credit limit (Irby, 2018).
Table 4.23.1
Variable Monthly Monthly Sig. Value Interpretation

Salary Salary
Do you consider 10 000-30 31 000-50 000 .897 Not Significant
a balance 000 51 000-70 000 .860 Not Significant
transfer to buy 71 000-above .135 Not Significant
more time in 31 000-50 10 000-30 000 .897 Not Significant
paying your 000 51 000-70 000 .500 Not Significant
debts? 71 000-above .045 Significant
51 000-70 10 000-30 000 .860 Not Significant
000 31 000-50 000 .500 Not Significant
71 000- 10 000-30 000 .135 Not Significant
above 31 000-50 000 .045 Significant
51 000-70 000 .450 Not Significant
Table 4.23.1 Post Hoc Analysis regarding Monthly Salary

in credit limit. The result shows that the records obtained with
study, thus the null is rejected. According to (Irby, 2018)
Transferring a balance to a credit card with a lower interest rate
will give you no finances charges, more of your monthly payment
will go toward reducing your credit card balance, instead of
towards interest.
Table 4.24


in regard to monthly salary
The interest is imposed at the 1.839 .140 Accept H0 Not Significant
Interest will be charged if my .782 .505 Accept H0 Not Significant
payment by the payment due
date is less than the total balance
due.
Do you use your reward as 1.221 .302 Accept H0 Not Significant
payment?
Do you consider increase .906 .438 Accept H0 Not Significant
points?
4.24.1 Interest and Rewards regarding Monthly Salary
to pay, when grouped according to salary per month using One-
way ANOVA. The results show that the records obtained

In order to gain more credit card transaction the credit
company gives reward and to gain more consumers (Landes,
2018).
Table 4.25
Differences in the extent of practice for satisfactory of

credit company in regard to monthly salary
Is overspending the fault of .207 Accept H0 Not
consumers, not of the credit card .891 Significant
companies?
Do credit card companies make it 1.223 .302 Accept H0 Not
hard for people to get out of debts? Significant
Do credit card companies show .788 .502 Accept H0 Not
enough concern for protecting Significant
Do you trust your credit card company 1.010 .388 Accept H0 Not
that will keep your personal spending Significant
4.25 Satisfactory of Credit Company regarding Monthly
Salary

to pay, when grouped according to salary per month using One-
way ANOVA. The results show that the records obtained
The customer satisfaction is a feeling of pleasure or
disappointment resulting from a product or service performance
based to the expectation of the customer. (Njanike, Mukucha,
2010).
Table 4.26
Differences in the extent of practice for credit

worthiness in regard to total credit limit


Significant
Are you having difficulty in paying 1.829 .162 Accept H0 Not
your credit card debt? Significant
Do you have a good credit rating? 2.712 .068 Accept H0 Not
Significant
credit card because of good credit Significant
standing?
Do credit company communicate .636 .530 Accept H0 Not
your unpaid balance? Significant
4.26 Credit Worthiness regarding Total Credit Limit
worthiness, when grouped according to total credit limit using
One-way ANOVA. The results shows that the records obtained

The total credit limit can’t be determined in the credit
history. The credit limit adjust depends on the usage pattern in the
credit card (Herron, 2017).
Table 4.27

regard to total credit limit
Do you have enough income to 2.550 .080 Accept H0 Not Significant
pay your debt?
immediately?
Do you only use your credit card 1.662 .192 Accept H0 Not Significant
when you need it?
Do you monitor when you will .009 .991 Accept H0 Not Significant
pay your debt?
Do you consider on minimum 2.277 .104 Accept H0 Not Significant
payment?
4.27 Ability to Pay regarding Total Credit Limit
to pay, when grouped according to total credit limit using One-

significant-values greater than the 0.05 level of significance set
for the study, thus the null hypothesis is accepted.
Regardless of the amount of the total credit limit, it does not
affect the ability to pay of the consumer. Some of the credit lenders
just following the present credit limit available, it has nothing to do
in the ability to pay (Herron, 2017).
Table 4.28
Differences in the extent of practice for credit limit in

regard to total credit limit
Are you well informed of your 2.486 .085 Accept H0 Not
credit limit? Significant
Do you monitor how much you 751 .473 Accept H0 Not
transfer to buy more time in paying
your debts?
Do you go beyond your credit 1.677 .189 Accept H0 Not
limit? Significant
Do you immediately pay your .933 .395 Accept H0 Not
credit upon over limit? Significant

4.28 Credit Limit regarding Total Credit Limit
to pay, when grouped according to total credit limit using One-way
Total credit limit determine the amount of money that is
willing to lend. While credit limit is the amount of money that can
use for purchase in at given in any time (Gitlen, 2018).

Table 4.28.1
Variable Total Credit Total Credit Sig. Interpretation

Limit Limit Value
Do you 10 000-50 000 51 000- .874 Not Significant
consider a 100 000
balance 101 000-above .004 Significant
transfer to buy 51 000- 10 000-50 000 .874 Not Significant
more time in 100 000 101 000-above .005 Significant
paying your 101 000-above 10 000-50 000 .004 Significant
debts? 51 000- .005 Significant
100 000
Table 4.28.1 Post Hoc Analysis regarding Total Credit
Limit
in total credit limit. The result shows that the records obtained with
According to (Irby, 2018) Transferring a balance to a credit
card with a lower interest rate will give you a chance to make a
bigger dent in your credit card balance. Since you'll have a lower

interest rate and possibly no finances charges, more of your
monthly payment will go toward reducing your credit card balance,
instead of towards interest.
Table 4.29
Differences in the extent of practice for interest and

rewards in regard to total credit limit
Are the interest rates charged on 2.518 .082 Accept H0 Not
credit card are reasonable? Significant
The interest is imposed at the .269 .764 Accept H0 Not
current interest rate. Significant
Interest will be charged if my 1.005 .367 Accept H0 Not
payment by the payment due date Significant
Do you use your reward as 3.734 .025 Reject H0 Significant
payment?
Do you consider increase .357 .700 Accept H0 Not
consumption because of reward Significant
points?
4.29 Interest and Rewards regarding Total Credit Limit

Credit card reward is a way of credit company to increase
the credit card transactions and to attract more consumers
(Caldwell, 2018).
Table 4.29.1

Limit Limit Value
Do you use 10 000-50 000 51 000- .603 Not Significant
your reward 100 000
as payment? 101 000-above .085 Not Significant
51 000- 10 000-50 000 .603 Not Significant
100 000 101 000-above .028 Significant
101 000-above 10 000-50 000 .085 Not Significant
51 000- .028 Significant
100 000

Limit
in interest and reward. The result shows that the records obtained
with significant difference less than 0.05 level of significance set
for the study, thus the null is rejected.
Reward programs on credit cards are available only to
individuals who have the best credit score. This means, one is
not qualified if his/her credit score needs improvement (Irby,
2018).

Table 4.30
Differences in the extent of practice for satisfactory of

credit company in regard to total credit limit

Is overspending the fault of 2.416 Accept H0 Not
consumers, not of the credit card .091 Significant
companies?
Do credit card companies make it 3.426 .034 Reject H0 Significant
hard for people to get out of debts?
Do credit card companies show 1.153 .317 Accept H0 Not
enough concern for protecting Significant
Do you trust your credit card company 7.863 .000 Reject H0 Significant
that will keep your personal spending
4.30 Satisfactory of Credit Company regarding Total Credit
Limit

The satisfaction of the customer is based on the incentives
given by the company and the performance of their service
(Power, 2018).
Table 4.30.1

Limit Limit Value
Do credit card 10 000-50 000 51 000- .741 Not Significant
companies 100 000
make it hard 101 000-above .082 Not Significant
for people to 51 000- 10 000-50 000 .741 Not Significant
get out of 100 000 101 000-above .043 Significant
debts? 101 000-above 10 000-50 000 .082 Not Significant
51 000- .043 Significant
100 000

Limit
Getting out of debt does not occur instantly. Once you have
a debt, it may take time to eliminate it (Egan, 2018).

Chapter 4
Summary of Findings, Conclusions and Recommendations
Summary of Findings
1. Profile of the Respondents
1.1. Age
1.1.1. One hundred eighteen (118) or forty-one point
four percent (41.4%) of the respondents are
twenty-one (21) to thirty (30) years old.
1.1.2. Eighty-nine (89) or thirty-one point two percent
(31.2%) of the respondents are thirty-one (31) to
forty (40) years old.
1.1.3. Sixty-three (63) or twenty-two point one percent
(22.1%) of the respondents are forty-one (41) to
fifty (50) years old.
1.1.4. Fifteen (15) or five point three percent (5.3%) of
the respondents are fifty-one (51) years old and
above.

1.2. Gender
1.2.1. One hundred thirty-eight (138) or forty-eight
point four percent (48.4%) of the respondents
are male.
1.2.2. One hundred forty-seven (147) or fifty-one point
six percent (51.6%) of the respondents are
female.
1.3. Civil Status
1.3.1. One hundred seventy-three (173) or sixty point
seven percent (60.7%) of the respondents are
single.
1.3.2. One hundred twelve (112) or thirty-nine point
three percent (39.3%) of the respondents are
married.

1.4. Occupational Sector
1.4.1. Two hundred sixteen (216) or seventy-five point
eight percent (75.8%) of the respondents are
working on private sectors.
1.4.2. Thirty-six (36) or twelve point six percent (12.6%)
of the respondents are working in the
government.
1.4.3. Thirty-three (33) or eleven point six percent
(11.6%) of the respondents are self-employed.
1.5. Monthly Salary
1.5.1. One hundred one (101) or thirty-five point four
percent (35.4%) of the respondents have
monthly salary of ten thousand pesos (₱ 10 000)
to thirty thousand pesos (₱ 30 000).
1.5.2. Eighty-three (83) or twenty-nine point one
percent (29.1%) of the respondents have

monthly salary of thirty-one thousand pesos (₱
31 000) to fifty thousand pesos (₱ 50 000).
1.5.3. Seventy (70) or twenty-four point six percent
(24.6%) of the respondents have monthly salary
of fifty-one thousand pesos (₱ 51 000) to seventy
thousand pesos (₱ 70 000).
1.5.4. Thirty-one (31) or ten point nine percent (10.9%)
of the respondents have monthly salary of
seventy-one thousand pesos (₱ 71 000) and
above.
1.6. Total Credit Limit
1.6.1. One hundred seventy four (174) or sixty-one
point one percent (61.1%) of the respondents
have credit limit of ten thousand pesos (₱ 10
000) to fifty thousand pesos (₱ 50 000).
1.6.2. Sixty-seven (67) or twenty-three point five
percent (23.5%) of the respondents have credit

limit of fifty-one thousand pesos (₱ 51 000) to
one hundred thousand pesos (₱ 100 000).
1.6.3. Forty-four (44) or fifteen point four percent
(15.4%) of the respondents have credit limit of
one hundred one thousand pesos (₱ 101 000)
and above.
2. Information on Credit Card Usage
2.1. Number of credit cards
2.1.1. Two hundred twenty seven (227) or seventy-nine
point seven percent (79.7%) of the respondents
have one (1) to two (2) credit cards.
2.1.2. Forty-seven (47) or sixteen point five percent
(16.5%) of the respondents have three (3) to four
(4) credit cards.
2.1.3. Eleven (11) or three point nine percent (3.9%) of
the respondents have five (5) to ten (10) credit
cards.

2.2. Frequency on using credit card
2.2.1. Sixteen (16) or five point six percent (5.6%) of
the respondents use credit cards every day.
2.2.2. Fifty-seven (57) or twenty percent (20%) of the
respondents use credit cards two (2) to six (6)
times a week.
2.2.3. One hundred (89) or thirty-five point one percent
(35.1%) of the respondents use credit cards
once a month.
2.2.4. One hundred twelve (112) or thirty-nine point
three percent (39.3%) of the respondents use
credit cards two (2) to three (3) times a month.
2.3. Reason to apply for credit card
2.3.1. Eighty-three (83) or twenty-nine point one
percent (29.1%) of the respondents apply credit
card in order to get discounts during shopping.
2.3.2. Ten (10) or three point five percent (3.5%) of the

respondents apply for credit card to get free gifts.
2.3.3. One hundred five (105) or thirty-six point eight
percent (36.8%) of the respondents apply for
credit card because it is convenient to make
payments.
2.3.4. Eighty-seven (87) or thirty point five percent
(30.5%) of the respondents had other reasons to
apply for credit card.
2.4. Amount of payment using credit card monthly
2.4.1. One hundred fifty seven (157) or fifty-five point
one percent (55.1%) of the respondents spend
below ten thousand pesos (₱ 10 000).
2.4.2. Sixty-five (65) or twenty-two point eight percent
(22.8%) of the respondents spend eleven
thousand pesos (₱ 11 000) to twenty thousand
pesos (₱ 20 000).
2.4.3. Thirty-five (35) or twelve point three percent

(12.3%) spend twenty-one thousand pesos (₱ 21
000) to thirty thousand pesos (₱ 30 000).
2.4.4. Twenty-eight (28) or nine point eight percent
(9.8%) spend thirty-one thousand pesos (₱ 31
000) and above.
2.5. Actual payments that have made via credit card
2.5.1. Sixty-four (64) or twenty-two point five percent
(22.5%) of the respondents use credit card for
travel.
2.5.2. Ninety-six (96) or thirty-three point seven percent
groceries.
2.5.3. Three (3) or one point one percent (1.1%) of the
respondents use credit card for medical purpose.
2.5.4. Four (4) or one point four percent (1.4%) of the
respondents use credit card on insurance.
2.5.5. Eleven (11) or three point nine percent (3.9%) of

the respondents use credit card on
entertainment.
2.5.6. Four (4) or one point four percent (1.4%) of the
respondents use credit card on buying meals.
2.5.7. Thirty-eight (38) or thirteen point three percent
utilities.
2.5.8. Sixty-five (65) or twenty-two point eight percent
(22.8%) of the respondents use credit card on
online shopping.
2.6. Length of credit card usage
2.6.1. One hundred forty-four (144) or fifty point six
percent (50.6%) of the respondents have been
using credit card for one (1) to three (3) years.

2.6.2. Ninety-three (93) or thirty-two point three percent
(32.3%) of the respondents have been using
credit card for four (4) to six (6) years.
2.6.3. Forty-eight (48) or sixteen point eight percent
(16.8%) of the respondents have been using
credit card for more than seven (7) years.
3. What is the extent of debt management practiced by
credit card users in terms of:
3.1. Credit Worthiness
3.1.1. The respondents assessed the extent of Credit
Worthiness as “Moderately Practiced” with a
composite mean of 3.24.
3.1.2. The indicator “Can you pay on time?” obtained a
mean of 3.77 which is interpreted as “Highly
Practiced”.

3.1.3. The indicator “Are you having difficulty in paying
your credit card debt?” obtained a mean of 2.46
which is interpreted as “Poorly Practiced”.
3.1.4. The indicator “Do you have a good credit rating?”
obtained a mean of 3.58 which is interpreted as
“Highly Practiced”.
3.1.5. The indicator “Do you experience upgrades in
credit card because of credit standing?” obtained
a mean of 3.33 which is interpreted as
3.1.6. The indicator “Do credit card company
communicate your unpaid balance?” obtained a
mean of 3.04 which is interpreted as “Moderately
Practiced”.
3.2. Ability to Pay

3.2.1. The respondents assessed the extent of Ability
to Pay as “Highly Practiced” with composite
mean of 3.60.
3.2.2. The indicator “Do you have enough income to
pay your debt?” obtained a mean of 3.72 which
is interpreted as “Highly Practiced”.
3.2.3. The indicator “Do you pay your loan
immediately?” obtained a mean of 3.63 which is
interpreted as “Highly Practiced”.
3.2.4. The indicator “Do you only use your credit card
when you need it?” obtained a mean of 3.64
which is interpreted as “Highly Practiced”.
3.2.5. The indicator “Do you monitor when you will pay
your debt?” obtained a mean of 3.60 which is
3.2.6. The indicator “Do you consider paying on
minimum payment?” obtained a mean of 3.48

which is also interpreted as “Moderately
Practiced”.
3.3. Credit Limit
3.3.1. The respondents assessed the extent of Credit
Limit as “Moderately Practiced” with a composite
mean of 3.16.
3.3.2. The indicator “Are you well informed of your
credit limit?” obtained a mean of 3.79 which is
3.3.3. The indicator “Do you monitor how much you
already spend on credit card?” obtained a mean
of 3.52 which is interpreted as “Highly Practiced”.
3.3.4. The indicator “Do you consider a balance
transfer to buy more time in paying your debts?”

3.3.5. The indicator “Do you go beyond your credit
limit?” obtained a mean of 1.97 which is
interpreted as “Poorly Practiced”.
3.3.6. The indicator “Do you immediately pay your
credit upon over limit?” obtained a mean of 3.25
which is interpreted as “Moderately Practiced”.
3.4. Interest and Rewards
3.4.1. The respondents assessed the extent of Interest
and Rewards as “Moderately Practiced” with a
composite mean of 3.00.
3.4.2. The indicator “Are the interest rates charged on
credit card are reasonable?” obtained a mean of
3.25 which is interpreted as “Moderately
Practiced”.
3.4.3. The indicator “The interest is imposed at the
current interest rate” obtained a mean of 3.25
which is interpreted as “Moderately Practiced”.

3.4.4. The indicator “Interest will be charge if my
payment by the payment due date is less that the
total balance due” obtained a mean of 3.29 which
is interpreted as “Moderately Practiced”.
3.4.5. The indicator “Do you use your reward as
payment?” obtained a mean of 3.03 which is
3.4.6. The indicator “Do you consider increase
consumption because of reward points?”
obtained a mean of 2.18 which is also interpreted
as “Poorly Practiced”.
3.5. Satisfactory of Credit Card Company
3.5.1. The respondents assessed the extent of
Satisfactory of Credit Card Company as
“Moderately Practiced” with a composite mean of
3.42.

3.5.2. The indicator “Are credit card billing statements
accurate?” obtained a mean of 3.72 which is
3.5.3. The indicator “Is overspending the fault of
consumers, not of the credit card companies?”
“Highly Practiced”.
3.5.4. The indicator “Do credit card companies make it
hard for people to get out of debts?” obtained a
mean of 3.05 which is interpreted as “Moderately
Practiced”.
3.5.5. The indicator “Do credit card companies show
enough concern for protecting consumers
privacy?” obtained a mean of 3.23 which is
3.5.6. The indicator “Do you trust your credit card
company that will keep your personal spending

information confidential?” obtained a mean of
3.49 which is also interpreted as “Moderately
Practiced”.
4. Is there a significant difference in debt management
practiced by credit card users when grouped
according to the profile?
4.1. Credit Worthiness regarding Age Group
4.1.1. The test of difference using ANOVA obtained a
significance value of .835. The significance value
of .835 is greater than .05 level of significance
set for the study, thus the null hypothesis is
accepted. There is no significant difference in the
extent of practice for credit worthiness in regard
to age group.
of .013 is less than .05 level of significance set

for the study, thus the null hypothesis is rejected.
There is significant difference in the extent of
practice for credit worthiness in regard to age
group.
to age group.

to age group.
to age group.
4.2. Ability to Pay regarding Age Group
extent of practice for ability to pay in regard to
age group.

age group.
age group.

age group.
practice for ability to pay in regard to age group.
4.3. Credit Limit regarding Age Group
extent of practice for credit limit in regard to age
group.

group.
practice for credit limit in regard to age group.

group.
practice for credit limit in regard to age group.
4.4. Interest and Rewards regarding Age Group
extent of practice for interest and rewards in
regard to age group.


4.5. Satisfactory of Credit Company regarding Age
Group

extent of practice for satisfactory of credit
company in regard to age group.
practice for satisfactory of credit company in

practice for satisfactory of credit company in
4.6. Credit Worthiness regarding Gender

to gender.
to gender.

to gender.
to gender.
to gender.

4.7. Ability to Pay regarding Gender
gender.
gender.

gender.
gender.

practice for ability to pay in regard to gender.
4.8. Credit Limit regarding Gender
extent of practice for credit limit in regard to
gender.
gender.

practice for credit limit in regard to gender.
gender.

gender.
4.9. Interest and Rewards regarding Gender
regard to gender.
regard to gender.

regard to gender.
regard to gender.

regard to gender.
4.10. Satisfactory of Credit Company regarding
Gender
4.10.1. The test of difference using ANOVA obtained
a significance value of .328. The significance
value of .328 is greater than .05 level of
significance set for the study, thus the null
hypothesis is accepted. There is no significant
difference in the extent of practice for
gender.

gender.
gender.

gender.
gender.
4.11. Credit Worthiness regarding Civil Status

difference in the extent of practice for credit
worthiness in regard to civil status.

4.12. Ability to Pay regarding Civil Status

difference in the extent of practice for ability to
pay in regard to civil status.

value of .023 is less than .05 level of significance
rejected. There is significant difference in the
civil status.

4.13. Credit Limit regarding Civil Status
difference in the extent of practice for credit limit
in regard to civil status.


4.14. Interest and Rewards regarding Civil Status
difference in the extent of practice for interest
and rewards in regard to civil status.


4.15. Satisfactory of Credit Company regarding Civil
Status
status.

status.
status.

status.
status.
4.16. Credit Worthiness regarding Occupational
Sector

worthiness in regard to occupational sector.

4.17. Ability to pay regarding occupational sector

pay in regard occupational sector.
rejected. There is significant difference in the
occupational sector.

pay in regard to occupational sector.

4.18. Credit Limit regarding occupational sector
in regard to occupational sector.

hypothesis is accepted. There is significant

4.19. Interest and Reward regarding occupational
sector
and reward in regard to occupational sector.
a significance value of.690. The significance
value of.690 is greater than .05 level of


4.20. Satisfactory of credit company regarding
occupational sector

satisfactory in regard to occupational sector.

4.21. Credit Worthiness regarding monthly salary

worthiness in regard to age group.
rejected. There is no significant difference in the
to monthly salary.
worthiness in regard to monthly salary.

4.22. Ability to pay regarding monthly salary

pay in regard to monthly salary.
value of .993is less than .05 level of significance
rejected. There is no significant difference in the
monthly salary.

4.23. Credit Limit regarding monthly salary

value of .782is greater than .05 level of
in regard to monthly salary.

4.24. Interest and Reward regarding monthly salary

and reward in regard to monthly salary.


4.25. Satisfactory of credit company regarding
monthly salary
monthly salary.

monthly salary.
monthly salary.

monthly salary.
monthly salary.
4.26. Credit Worthiness regarding total credit limit
worthiness in regard to total credit limit.

a significance value of .443. The significance value
of .443 is greater than .05 level of significance set

There is no significant difference in the extent of
practice for credit worthiness in regard to total
credit limit.
4.27. Ability to pay regarding Total credit limit

pay in regard to total credit limit.
value of.613 is greater than .05 level of

4.28. Credit Limit regarding Total credit limit


4.29. Interest and Reward regarding Total credit limit

a significance value of.082. The significance

of .700 is greater than .05 level of significance set
There is no significant difference in the extent of
practice for credit worthiness in regard to total

credit limit.
4.30. Satisfactory of credit company regarding Total
credit limit
credit limit.

credit limit.
credit limit.

credit limit.
credit limit.
2. Conclusions
Based on the findings of the study, the researchers came
up to the following conclusions:
2.1 Majority of the respondents are female, from ages 21 to
30 years, single, working on private sectors, have monthly
salary of ₱ 10 000 to ₱ 30 000, and credit limit of ₱ 10 000
to ₱50 000.

2.2 Majority of the respondents have 1 – 2 credit cards, are
using credit cards 2 to 3 times a month, apply for credit
card because it is convenient to make payments, spend
below ₱ 10 000 monthly, using credit card for groceries,
and have been using credit card for 1 to 3 years.
2.3 Ability to Pay is evaluated as highly practiced, while Credit
Worthiness, Credit Limit, Interest and Rewards, and
Satisfactory of Credit Company are evaluated as
moderately practiced.
3. Recommendations
Based on the findings and conclusion of the study, the following
are the recommendations drawn:
Figure 2
Credit Card Debt Management Improvement Framework
Credit card debt Recommendations

management for Improvements
practices

Credit Worthiness
Pay on time
Ability to Pay
Having enough income in
paying debt
Credit Limit
Monitoring on how much
you already spend.
Interest and Rewards
Interest rates charged

on credit card are
Satisfactory of Credit reasonable
Company
credit card billing

statement should be
accurate to avoid errors.
3.1 For better assessment and improvement of framework as
to credit worthiness. Pay on time to avoid late payment that cause
the increase in finance charges. Making credit card payments on

time is important to avoid penalties and create good credit
standing.
to ability to pay. One important factor in paying debt is having
enough income. Income is important to know how much the
consumer earn in order to know how much the consumer can
afford to spend and save money.
to credit limit. Monitor the expenditure in the credit card by making
a debt list to track the expenditures that the consumer made. This
may help to know how much the total expenditure to avoid
overspending of the consumer.
to interest and reward. Interest in credit card should be
reasonable. Choose a credit card that suit in the need of the
consumer it should have a good credit card benefits include low

interest rate, getting points in every purchase and freebies like gift
cards and free meals.
to satisfactory of credit company. The credit card billing statement
should be accurate to avoid errors. It contain transactions that the
consumer made within a month. Also the credit company should
have security features to protect the private information of the
consumer.
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APPENDICES

Appendix A
Letter of Acceptance for Adviser

Appendix B
Letter for Survey for Evaluators

Appendix C

Appendix D

Appendix E
Survey Instrument


Appendix F
Letter to Respondents

Appendix G
Certificate of Statistician

Appendix H
Certificate of Turnitin






Appendix I
Certificate of Grammarian

Appendix J
Relevant Raw Statistical Result
D1
Frequency Percent Valid Percent Cumulative Percent
1 15 5.3 5.3 5.3
2 63 22.1 22.1 27.4
Valid 3 89 31.2 31.2 58.6
4 118 41.4 41.4 100
Total 285 100 100
D2
Valid 1 147 51.6 51.6 51.6
2 138 48.4 48.4 100.0

total 285 100.0 100.0
D3
Frequency Percent Valid Cumulative
Percent Percent
Vali 1 112 39.3 39.3 39.3
d
2 173 60.7 60.7 100.0
total 285 100.0 100.0
D4
Frequenc Percent Valid Cumulative
y Percent Percent
Valid 1 33 11.6 11.6 11.6
2 36 12.6 12.6 24.2

3 216 75.8 75.8 100.0
total 285 100.0 100.0

D5
1 31 10.9 10.9 10.9
2 70 24.6 24.6 35.4
Valid 3 83 29.1 29.1 64.6
4 101 35.4 35.4 100
Total 285 100 100
D6
1 44 15.4 15.4 15.4
2 67 23.5 23.5 38.9
Valid
3 174 61.1 61.1 100
Total 285 100 100
D7
1 11 3.9 3.9 3.9
2 47 16.5 16.5 20.4
Valid
3 227 79.6 79.6 100
Total 285 100 100
D8
1 112 39.3 39.3 39.3
2 100 35.1 35.1 74.4
3 1 0.4 0.4 74.7
Valid
4 56 19.6 19.6 94.4
5 16 5.6 5.6 100
Total 285 100 100
D9
1 87 30.5 30.5 30.5
2 105 36.8 36.8 67.4
Valid 3 10 3.5 3.5 70.9
4 83 29.1 29.1 100
Total 285 100 100
D10
1 28 9.8 9.8 9.8
2 35 12.3 12.3 22.1
Valid 3 65 22.8 22.8 44.9
4 157 55.1 55.1 100
Total 285 100 100

D11
1 65 22.8 22.8 22.8
2 38 13.3 13.3 36.1
3 4 1.4 1.4 37.5
4 11 3.9 3.9 41.4
Valid 5 4 1.4 1.4 42.8
6 3 1.1 1.1 43.9
7 96 33.7 33.7 77.5
8 64 22.5 22.5 100
Total 285 100 100
D12
1 48 16.8 16.8 16.8
2 93 32.6 32.6 49.5
Valid
3 144 50.5 50.5 100
Total 285 100 100
Descriptive Statistic
N Minimum Maximum Mean Std. Deviation
AP1 285 1 4 3.72 0.554
AP2 285 1 4 3.63 0.551
AP3 285 1 4 3.64 0.582
AP4 285 1 4 3.6 0.713
AP5 285 1 4 3.42 0.759
CL1 285 1 4 3.79 0.499
CL2 285 1 4 3.52 0.7
CL3 285 1 4 3.26 0.905
CL4 285 1 4 1.97 1.043
CL5 285 1 4 3.25 0.982
I&R1 285 1 4 3.25 0.694
I&R2 285 1 4 3.25 0.712
I&R3 285 1 4 3.29 0.698
I&R4 285 1 4 3.03 0.993
I&R5 285 1 4 2.18 1.111
SCC1 285 1 4 3.72 0.51
SCC2 285 1 4 3.6 0.552
SCC3 285 1 4 3.05 0.728
SCC4 285 1 4 3.23 0.76
SCC5 285 1 4 3.49 0.71
Valid N
285
(listwise)

ANOVA - D1
Sum of Squares df Mean Square F Sig.
Between Groups 0.228 3 0.076 0.287 0.835
CW1 Within Groups 74.488 281 0.265
Total 74.716 284
Between Groups 11.479 3 3.826 3.667 0.013
Total 304.702 284
Between Groups 0.268 3 0.089 0.181 0.909
Total 139.312 284
Between Groups 1.493 3 0.498 0.68 0.565
Total 206.996 284
Between Groups 0.402 3 0.134 0.106 0.957
Total 355.649 284
Between Groups 0.174 3 0.058 0.187 0.905
AP1 Within Groups 86.928 281 0.309
Total 87.102 284
Between Groups 1.502 3 0.501 1.658 0.176
Total 86.316 284
Between Groups 1.546 3 0.515 1.533 0.206
Total 96.049 284
Between Groups 2.037 3 0.679 1.34 0.261
Total 144.4 284
Between Groups 9.468 3 3.156 5.759 0.001
Total 163.474 284
Between Groups 0.764 3 0.255 1.022 0.383
CL1 Within Groups 70.022 281 0.249
Total 70.786 284
Between Groups 1.38 3 0.46 0.939 0.422
Total 139.102 284
Between Groups 9.36 3 3.12 3.924 0.009
Total 232.786 284
Between Groups 1.249 3 0.416 0.38 0.767
Total 308.716 284
Between Groups 9.46 3 3.153 3.352 0.019
Total 273.811 284
Between Groups 1.849 3 0.616 1.283 0.28
I&R1 Within Groups 134.958 281 0.48
Total 136.807 284
Between Groups 2.022 3 0.674 1.336 0.263
I&R2
Within Groups 141.789 281 0.505

Total 143.811 284

Between Groups 1.623 3 0.541 1.111 0.345
I&R3 Within Groups 136.784 281 0.487
Total 138.407 284
Between Groups 6.205 3 2.068 2.125 0.097
Total 279.775 284
Between Groups 7.688 3 2.563 2.101 0.1
Total 350.512 284
Between Groups 0.282 3 0.094 0.358 0.783
SCC1 Within Groups 73.697 281 0.262
Total 73.979 284
Between Groups 3.242 3 1.081 3.652 0.013
Total 86.4 284
Between Groups 0.524 3 0.175 0.327 0.806
Total 150.407 284
Between Groups 2.339 3 0.78 1.354 0.257
Total 164.175 284
Between Groups 4.45 3 1.483 3.004 0.031
Total 143.207 284
ANOVA - D2
Between Groups 0.059 1 0.059 0.222 0.638
Total 74.716 284
Between Groups 2.005 1 2.005 1.875 0.172
Total 304.702 284
Between Groups 0.572 1 0.572 1.166 0.281
Total 139.312 284
Between Groups 0.427 1 0.427 0.586 0.445
Total 206.996 284
Between Groups 1.749 1 1.749 1.399 0.238
Total 355.649 284
Between Groups 0.254 1 0.254 0.828 0.364
Total 87.102 284
Between Groups 0.01 1 0.01 0.033 0.857
Total 86.316 284
Between Groups 0.038 1 0.038 0.112 0.739
Total 96.049 284

Between Groups 0.068 1 0.068 0.133 0.715

Total 144.4 284
Between Groups 3.549 1 3.549 6.281 0.013
Total 163.474 284
Between Groups 0.005 1 0.005 0.018 0.893
Total 70.786 284
Between Groups 0.531 1 0.531 1.084 0.299
Total 139.102 284
Between Groups 3.232 1 3.232 3.985 0.047
Total 232.786 284
Between Groups 1.507 1 1.507 1.388 0.24
Total 308.716 284
Between Groups 0.018 1 0.018 0.019 0.891
Total 273.811 284
Between Groups 0.366 1 0.366 0.759 0.384
I&R1 Within Groups 136.441 283 0.482
Total 136.807 284
Between Groups 0 1 0 0.001 0.982
Total 143.811 284
Between Groups 0.007 1 0.007 0.014 0.905
Total 138.407 284
Between Groups 0.018 1 0.018 0.018 0.893
I&R4 Within Groups 279.758 283 0.989
Total 279.775 284
Between Groups 0 1 0 0 0.985
I&R5 Within Groups 350.512 283 1.239
Total 350.512 284
Between Groups 0.25 1 0.25 0.961 0.328
Total 73.979 284
Between Groups 0.046 1 0.046 0.149 0.7
Total 86.4 284
Between Groups 0.041 1 0.041 0.077 0.782
Total 150.407 284
Between Groups 0.004 1 0.004 0.007 0.935
Total 164.175 284
Between Groups 0.075 1 0.075 0.148 0.701
Total 143.207 284

ANOVA - D3
Between Groups 0.708 1 0.708 2.707 0.101
Total 74.716 284
Between Groups 0.703 1 0.703 0.654 0.419
Total 304.702 284
Between Groups 0.887 1 0.887 1.813 0.179
Total 139.312 284
Total 206.996 284
Total 355.649 284
Between Groups 0.136 1 0.136 0.444 0.506
Total 87.102 284
Between Groups 0.267 1 0.267 0.879 0.349
Total 86.316 284
Between Groups 0.251 1 0.251 0.741 0.39
Total 96.049 284
Between Groups 0.021 1 0.021 0.042 0.839
Total 144.4 284
Between Groups 2.948 1 2.948 5.198 0.023
Total 163.474 284
Between Groups 0.76 1 0.76 3.07 0.081
Total 70.786 284
Between Groups 1.049 1 1.049 2.151 0.144
Total 139.102 284
Between Groups 0.544 1 0.544 0.663 0.416
Total 232.786 284
Between Groups 0.184 1 0.184 0.169 0.682
Total 308.716 284
Between Groups 0.412 1 0.412 0.427 0.514
Total 273.811 284
Between Groups 0.004 1 0.004 0.008 0.929
I&R1 Within Groups 136.803 283 0.483
Total 136.807 284
Between Groups 0.583 1 0.583 1.152 0.284
I&R2 Within Groups 143.228 283 0.506
Total 143.811 284

Between Groups 0.491 1 0.491 1.007 0.317

I&R3 Within Groups 137.916 283 0.487
Total 138.407 284
I&R4 Within Groups 279.775 283 0.989
Total 279.775 284
Between Groups 1.642 1 1.642 1.332 0.249
I&R5 Within Groups 348.871 283 1.233
Total 350.512 284
Between Groups 0.069 1 0.069 0.265 0.607
Total 73.979 284
Between Groups 0.001 1 0.001 0.002 0.965
Total 86.4 284
Between Groups 0.51 1 0.51 0.964 0.327
Total 150.407 284
Between Groups 1.34 1 1.34 2.328 0.128
Total 164.175 284
Between Groups 0.002 1 0.002 0.004 0.949
Total 143.207 284
ANOVA - D4
Between Groups 0.704 2 0.352 1.342 0.263
Total 74.716 284
Between Groups 4.256 2 2.128 1.997 0.138
Total 304.702 284
Between Groups 1.819 2 0.91 1.866 0.157
Total 139.312 284
Between Groups 1.523 2 0.762 1.045 0.353
Total 206.996 284
Between Groups 6.647 2 3.324 2.686 0.07
Total 355.649 284
Between Groups 0.976 2 0.488 1.598 0.204
Total 87.102 284
Between Groups 1.551 2 0.775 2.579 0.078
Total 86.316 284
Between Groups 0.65 2 0.325 0.96 0.384
Total 96.049 284
Between Groups 1.595 2 0.798 1.575 0.209
AP4
Within Groups 142.805 282 0.506

Total 144.4 284

Between Groups 2.791 2 1.396 2.45 0.088
Total 163.474 284
Between Groups 0.382 2 0.191 0.765 0.466
Total 70.786 284
Between Groups 0.859 2 0.43 0.876 0.417
Total 139.102 284
Between Groups 0.275 2 0.138 0.167 0.846
Total 232.786 284
Between Groups 11.183 2 5.591 5.3 0.006
Total 308.716 284
Between Groups 5.698 2 2.849 2.997 0.052
Total 273.811 284
Between Groups 0.112 2 0.056 0.116 0.891
I&R1 Within Groups 136.695 282 0.485
Total 136.807 284
Between Groups 0.378 2 0.189 0.372 0.69
I&R2 Within Groups 143.432 282 0.509
Total 143.811 284
Between Groups 2.561 2 1.28 2.658 0.072
I&R3 Within Groups 135.846 282 0.482
Total 138.407 284
Between Groups 2.552 2 1.276 1.298 0.275
I&R4 Within Groups 277.223 282 0.983
Total 279.775 284
Between Groups 8.485 2 4.243 3.498 0.032
I&R5 Within Groups 342.027 282 1.213
Total 350.512 284
Between Groups 1.519 2 0.759 2.956 0.054
Total 73.979 284
Between Groups 2.54 2 1.27 4.27 0.015
Total 86.4 284
Between Groups 3.412 2 1.706 3.272 0.039
Total 150.407 284
Between Groups 5.156 2 2.578 4.572 0.011
Total 164.175 284
Between Groups 2.29 2 1.145 2.291 0.103
Total 143.207 284
ANOVA - D5
CW1 Between Groups 0.173 3 0.058 0.217 0.884

Within Groups 74.543 281 0.265

Total 74.716 284
Between Groups 7.891 3 2.63 2.49 0.061
Total 304.702 284
Between Groups 1.176 3 0.392 0.798 0.496
Total 139.312 284
Between Groups 1.327 3 0.442 0.604 0.613
Total 206.996 284
Between Groups 5.519 3 1.84 1.477 0.221
Total 355.649 284
Between Groups 1.479 3 0.493 1.618 0.185
Total 87.102 284
Between Groups 0.028 3 0.009 0.03 0.993
Total 86.316 284
Between Groups 2.778 3 0.926 2.79 0.041
Total 96.049 284
Between Groups 2.636 3 0.879 1.741 0.159
Total 144.4 284
Between Groups 0.081 3 0.027 0.047 0.987
Total 163.474 284
Between Groups 0.271 3 0.09 0.36 0.782
Total 70.786 284
Between Groups 2.086 3 0.695 1.426 0.235
Total 139.102 284
Between Groups 7.159 3 2.386 2.972 0.032
Total 232.786 284
Between Groups 1.728 3 0.576 0.527 0.664
Total 308.716 284
Between Groups 1.773 3 0.591 0.61 0.609
Total 273.811 284
Between Groups 1.298 3 0.433 0.897 0.443
I&R1 Within Groups 135.509 281 0.482
Total 136.807 284
Between Groups 2.77 3 0.923 1.839 0.14
I&R2 Within Groups 141.041 281 0.502
Total 143.811 284
Between Groups 1.145 3 0.382 0.782 0.505
I&R3 Within Groups 137.262 281 0.488
Total 138.407 284
I&R4 Between Groups 3.599 3 1.2 1.221 0.302

Within Groups 276.176 281 0.983

Total 279.775 284
Between Groups 3.358 3 1.119 0.906 0.438
I&R5 Within Groups 347.154 281 1.235
Total 350.512 284
Between Groups 0.979 3 0.326 1.256 0.29
SCC1 Within Groups 73 281 0.26
Total 73.979 284
Between Groups 0.191 3 0.064 0.207 0.891
Total 86.4 284
Between Groups 1.938 3 0.646 1.223 0.302
Total 150.407 284
Between Groups 1.369 3 0.456 0.788 0.502
Total 164.175 284
Between Groups 1.528 3 0.509 1.01 0.388
Total 143.207 284
ANOVA - D6
Between Groups 0.524 2 0.262 0.996 0.371
Total 74.716 284
Between Groups 3.902 2 1.951 1.829 0.162
Total 304.702 284
Between Groups 2.629 2 1.315 2.712 0.068
Total 139.312 284
Between Groups 1.191 2 0.596 0.816 0.443
Total 206.996 284
Between Groups 1.597 2 0.799 0.636 0.53
Total 355.649 284
Between Groups 1.547 2 0.774 2.55 0.08
Total 87.102 284
Between Groups 0.3 2 0.15 0.491 0.613
Total 86.316 284
Between Groups 1.119 2 0.559 1.662 0.192
Total 96.049 284
Between Groups 0.01 2 0.005 0.009 0.991
Total 144.4 284
Between Groups 2.598 2 1.299 2.277 0.104
Total 163.474 284

Between Groups 1.226 2 0.613 2.486 0.085

Total 70.786 284
Between Groups 0.737 2 0.369 0.751 0.473
Total 139.102 284
Between Groups 10.353 2 5.177 6.563 0.002
Total 232.786 284
Between Groups 3.628 2 1.814 1.677 0.189
Total 308.716 284
Between Groups 1.799 2 0.9 0.933 0.395
Total 273.811 284
Between Groups 2.4 2 1.2 2.518 0.082
I&R1 Within Groups 134.407 282 0.477
Total 136.807 284
Between Groups 0.274 2 0.137 0.269 0.764
I&R2 Within Groups 143.537 282 0.509
Total 143.811 284
Between Groups 0.979 2 0.49 1.005 0.367
I&R3 Within Groups 137.428 282 0.487
Total 138.407 284
Between Groups 7.218 2 3.609 3.734 0.025
I&R4 Within Groups 272.558 282 0.967
Total 279.775 284
Between Groups 0.886 2 0.443 0.357 0.7
Total 350.512 284
Between Groups 0.556 2 0.278 1.068 0.345
Total 73.979 284
Between Groups 1.456 2 0.728 2.416 0.091
Total 86.4 284
Between Groups 3.568 2 1.784 3.426 0.034
Total 150.407 284
Between Groups 1.331 2 0.666 1.153 0.317
Total 164.175 284
Between Groups 7.565 2 3.782 7.863 0
Total 143.207 284

Post Hoc Tests

Multiple Comparisons
Scheffe
Mean 95% Confidence Interval
Dependent
(I) D1 (J) D1 Difference Std. Error Sig. Lower
Variable Upper Bound
(I-J) Bound
41-50 0.66032 0.29348 0.17 -0.1651 1.4857
51-above 31-40 .91910* 0.28512 0.017 0.1172 1.721
21-30 0.75085 0.28002 0.068 -0.0367 1.5384
51-above -0.66032 0.29348 0.17 -1.4857 0.1651
41-50 31-40 0.25878 0.16819 0.501 -0.2143 0.7318
21-30 0.09053 0.15939 0.956 -0.3578 0.5388
CW2
51-above -.91910* 0.28512 0.017 -1.721 -0.1172
31-40 41-50 -0.25878 0.16819 0.501 -0.7318 0.2143
21-30 -0.16825 0.14342 0.711 -0.5716 0.2351
51-above -0.75085 0.28002 0.068 -1.5384 0.0367
21-30 41-50 -0.09053 0.15939 0.956 -0.5388 0.3578
31-40 0.16825 0.14342 0.711 -0.2351 0.5716
41-50 -0.1746 0.21269 0.879 -0.7728 0.4236
51-above 31-40 -0.46067 0.20663 0.177 -1.0418 0.1205
21-30 -.57627* 0.20293 0.047 -1.147 -0.0055
51-above 0.1746 0.21269 0.879 -0.4236 0.7728
41-50 31-40 -0.28607 0.12189 0.141 -0.6289 0.0567
21-30 -.40167* 0.11552 0.008 -0.7266 -0.0768
AP5
51-above 0.46067 0.20663 0.177 -0.1205 1.0418
31-40 41-50 0.28607 0.12189 0.141 -0.0567 0.6289
21-30 -0.1156 0.10394 0.744 -0.4079 0.1767
51-above .57627* 0.20293 0.047 0.0055 1.147
21-30 41-50 .40167* 0.11552 0.008 0.0768 0.7266
31-40 0.1156 0.10394 0.744 -0.1767 0.4079
41-50 0.41905 0.25618 0.446 -0.3015 1.1396
51-above 31-40 0.34307 0.24888 0.594 -0.3569 1.043
21-30 0.01751 0.24443 1 -0.6699 0.705
51-above -0.41905 0.25618 0.446 -1.1396 0.3015
41-50 31-40 -0.07598 0.14681 0.966 -0.4889 0.3369
21-30 -.40153* 0.13914 0.042 -0.7929 -0.0102
CL3
51-above -0.34307 0.24888 0.594 -1.043 0.3569
31-40 41-50 0.07598 0.14681 0.966 -0.3369 0.4889
21-30 -0.32556 0.12519 0.082 -0.6776 0.0265
51-above -0.01751 0.24443 1 -0.705 0.6699
*
21-30 41-50 .40153 0.13914 0.042 0.0102 0.7929
31-40 0.32556 0.12519 0.082 -0.0265 0.6776
41-50 0.14603 0.27866 0.965 -0.6377 0.9298
51-above 31-40 0.4 0.27072 0.536 -0.3614 1.1614
21-30 -0.02373 0.26587 1 -0.7715 0.724
51-above -0.14603 0.27866 0.965 -0.9298 0.6377
41-50 31-40 0.25397 0.1597 0.471 -0.1952 0.7031
21-30 -0.16976 0.15134 0.739 -0.5954 0.2559
CL5
51-above -0.4 0.27072 0.536 -1.1614 0.3614
31-40 41-50 -0.25397 0.1597 0.471 -0.7031 0.1952
21-30 -.42373* 0.13617 0.023 -0.8067 -0.0407
51-above 0.02373 0.26587 1 -0.724 0.7715
21-30
41-50 0.16976 0.15134 0.739 -0.2559 0.5954

31-40 .42373* 0.13617 0.023 0.0407 0.8067

41-50 -0.10476 0.15629 0.93 -0.5443 0.3348
51-above 31-40 -0.01648 0.15184 1 -0.4435 0.4106
21-30 -0.25367 0.14912 0.41 -0.6731 0.1657
51-above 0.10476 0.15629 0.93 -0.3348 0.5443
41-50 31-40 0.08828 0.08957 0.808 -0.1636 0.3402
21-30 -0.14891 0.08488 0.382 -0.3876 0.0898
SCC2
51-above 0.01648 0.15184 1 -0.4106 0.4435
31-40 41-50 -0.08828 0.08957 0.808 -0.3402 0.1636
21-30 -.23719* 0.07637 0.023 -0.452 -0.0224
51-above 0.25367 0.14912 0.41 -0.1657 0.6731
21-30 41-50 0.14891 0.08488 0.382 -0.0898 0.3876
31-40 .23719* 0.07637 0.023 0.0224 0.452
41-50 -0.04762 0.20189 0.997 -0.6154 0.5202
51-above 31-40 -0.05993 0.19613 0.993 -0.6115 0.4917
21-30 -0.30226 0.19263 0.483 -0.844 0.2395
51-above 0.04762 0.20189 0.997 -0.5202 0.6154
41-50 31-40 -0.01231 0.1157 1 -0.3377 0.3131
21-30 -0.25464 0.10965 0.148 -0.563 0.0537
SCC5
51-above 0.05993 0.19613 0.993 -0.4917 0.6115
31-40 41-50 0.01231 0.1157 1 -0.3131 0.3377
21-30 -0.24233 0.09866 0.113 -0.5198 0.0351
51-above 0.30226 0.19263 0.483 -0.2395 0.844
21-30 41-50 0.25464 0.10965 0.148 -0.0537 0.563
31-40 0.24233 0.09866 0.113 -0.0351 0.5198
T-Test
Group Statistics
D2 N Mean Std. Deviation Std. Error Mean
female 147 3.3129 0.79211 0.06533
AP5
male 138 3.5362 0.70617 0.06011
female 147 3.1565 0.94869 0.07825
CL3
male 138 3.3696 0.84643 0.07205
Independent Samples Test

Levene's Test for Equality
t-test for Equality of Means
of Variances
F Sig. t df
Equal variances
1.96 0.163 -2.506 283
assumed
AP5
Equal variances
-2.515 282.258
not assumed
Equal variances
1.66 0.199 -1.996 283
assumed
CL3
Equal variances
-2.003 282.28
not assumed


95% Confidence Interval of
Sig. (2- Mean Std. Error
the Difference
tailed) Difference Difference
Lower
Equal
variances 0.013 -0.22331 0.0891 -0.39869
assumed
AP5 Equal
variances
0.012 -0.22331 0.08878 -0.39806
not
assumed
Equal
variances 0.047 -0.2131 0.10675 -0.42323
assumed
CL3 Equal
variances
0.046 -0.2131 0.10637 -0.42248
not
assumed
Group Statistics
Std. Std. Error
D3 N Mean
Deviation Mean
married 112 3.2946 0.83438 0.07884
AP5
single 173 3.5029 0.6957 0.05289

Levene's Test for t-test for Equality of
Equality of Variances Means
F Sig. t df
Equal
variances 1.925 0.166 -2.28 283
assumed
AP5 Equal
variances
-2.193 206.419
not
assumed


Levene's Test for Equality
of Variances
F Sig. t df
Equal
variances 1.925 0.166 -2.28 283
assumed
AP5 Equal
variances
-2.193 206.419
not
assumed
95%
Confidence
Sig. (2- Mean Std. Error
Interval of the
tailed) Difference Difference
Difference
Lower
Equal
variances 0.023 -0.20825 0.09134 -0.38804
assumed
AP5 Equal
variances
0.029 -0.20825 0.09494 -0.39542
not
assumed
Scheffe
Mean
Dependent
(I) D4 (J) D4 Difference Std. Error Sig.
Variable
(I-J)
government 0.2298 0.24755 0.65
self employed
private .56313* 0.19198 0.014
self employed -0.2298 0.24755 0.65
CL4 government
private 0.33333 0.18491 0.199
self employed -.56313* 0.19198 0.014
Private
government -0.33333 0.18491 0.199
government 0.27273 0.26541 0.59
self employed
private .51347* 0.20584 0.046
self employed -0.27273 0.26541 0.59
government
private 0.24074 0.19826 0.479
IR5
self employed -.51347* 0.20584 0.046
Private
government -0.24074 0.19826 0.479
government -.38384* 0.13142 0.015
self employed
private -0.20791 0.10192 0.127
SCC2
self employed .38384* 0.13142 0.015
government
private 0.17593 0.09817 0.203

self employed 0.20791 0.10192 0.127

private
government -0.17593 0.09817 0.203
government -0.33333 0.174 0.162
self employed
private -0.00463 0.13494 0.999
self employed 0.33333 0.174 0.162
SCC3 government
private .32870* 0.12997 0.042
self employed 0.00463 0.13494 0.999
private
government -.32870* 0.12997 0.042
government -0.07576 0.18097 0.916
self employed
private 0.27146 0.14035 0.156
self employed 0.07576 0.18097 0.916
SCC4 government
private .34722* 0.13518 0.038
self employed -0.27146 0.14035 0.156
private
government -.34722* 0.13518 0.038
Scheffe
Dependent
(I) D5 (J) D5 Mean Difference (I-J) Std. Error Sig.
Variable
51000-70000 0.1023 0.12429 0.878

71000-above 31000-50000 0.09094 0.12127 0.905
10000-30000 -0.11721 0.11829 0.806
71000-above -0.1023 0.12429 0.878
51000-70000 31000-50000 -0.01136 0.09349 1
10000-30000 -0.21952 0.0896 0.114
AP3
71000-above -0.09094 0.12127 0.905
31000-50000 51000-70000 0.01136 0.09349 1
10000-30000 -0.20816 0.08536 0.117
71000-above 0.11721 0.11829 0.806
10000-30000 51000-70000 0.21952 0.0896 0.114
31000-50000 0.20816 0.08536 0.117
51000-70000 -0.31475 0.19332 0.45
71000-above 31000-50000 -.53867* 0.18861 0.045
10000-30000 -0.43596 0.18399 0.135
71000-above 0.31475 0.19332 0.45
51000-70000 31000-50000 -0.22392 0.14541 0.5
10000-30000 -0.12122 0.13936 0.86
CL3
71000-above .53867* 0.18861 0.045
31000-50000 51000-70000 0.22392 0.14541 0.5
10000-30000 0.10271 0.13276 0.897
71000-above 0.43596 0.18399 0.135
10000-30000 51000-70000 0.12122 0.13936 0.86
31000-50000 -0.10271 0.13276 0.897

Scheffe
Dependent
(I) D6 (J) D6 Mean Difference (I-J) Std. Error Sig.
Variable
51000-100000 -.56988* 0.17233 0.005

101000-above
10000-50000 -.50366* 0.14987 0.004
*
101000-above .56988 0.17233 0.005
CL3 51000-100000
10000-50000 0.06622 0.12769 0.874
101000-above .50366* 0.14987 0.004
10000-50000
51000-100000 -0.06622 0.12769 0.874
51000-100000 -.51221* 0.19077 0.028
101000-above
10000-50000 -0.36991 0.16589 0.085
IR4 101000-above .51221* 0.19077 0.028
51000-100000
10000-50000 0.14231 0.14135 0.603
101000-above 0.36991 0.16589 0.085
10000-50000
51000-100000 -0.14231 0.14135 0.603
51000-100000 -.35380* 0.14002 0.043
101000-above
10000-50000 -0.27351 0.12177 0.082
*
101000-above .35380 0.14002 0.043
SCC3 51000-100000
10000-50000 0.08029 0.10375 0.741
101000-above 0.27351 0.12177 0.082
10000-50000
51000-100000 -0.08029 0.10375 0.741
51000-100000 -0.19132 0.13458 0.365
101000-above
10000-50000 -.42738* 0.11703 0.001
101000-above 0.19132 0.13458 0.365
SCC5 51000-100000
10000-50000 -0.23606 0.09972 0.062
101000-above .42738* 0.11703 0.001
10000-50000
51000-100000 0.23606 0.09972 0.062

Curriculum Vitae

Bulan, Cyramil Jade C.

Blk 32 Lot 5 Soldiers Hills Village, Putatan,
Muntinlupa City
09975476518
cyramil.23@gmail.com
Personal Information
 Age : 22
 Birthday : June 23, 1996
 Nationality : Filipino
 Civil Status : Single
 Religion : Roman Catholic
 Language : Filipino and English
Educational Background
 University of Perpetual Help System Dalta
Alabang-Zapote Road, Pamplona III, Las City
2015-Present
 Adamson University
900 San Marcelino St., Ermita, Manila
Bachelor of Science
2012-2015

 Binangonan Catholic College

59 M.L. Quezon, Libis, Binangonan, Rizal
2008-2012
 Maries Christian School

Blk 32 Lot 36 Mabuhay Homes, Pantok, Binangonan, Rizal
2002-2008
Organizational Affiliates
 Junior Philippine Institute of Accountants
Member
2016-2017
 Physics Society of Adamson University
Officer
2014-2015
Skills and Qualifications
 Proficient in Microsoft Word, Excel, and Powerpoint
 Has knowledge in basic HTML web design
 Can provide exceptional contributions and strive for
excellence

Mercado, Mary
Rose D.
B 19 L 2 8th Extension Golden Gate
Subdivision
Talon Tres, Las Piñas City
+639294722877
mmaryrose172@gmail.com
PERSONAL INFORMATION
 Age: 18
 Birthday: September 17, 1999
 Nationality: Filipino
 Birthplace: Muntinlupa City
 Height: 5’0
 Weight: 122 lbs.
 Civil Status: Single
 Religion: Roman Catholic
 Language: Filipino & English
EDUCATIONAL BACKGROUND
 University of Perpetual Help System DALTA
Alabang-Zapote Road, Pamplona III, Las Piñas City, 1740
Bachelor of Science in Accountancy

2015 – Present
 Rizal Experimental Station and Pilot School of Cottage

Industries
Admiral Village, Talon Tres Las Piñas City
2011 – 2015
 MES-MIKESELL ELEMENTARY SCHOOL ANNEX

Felimon St. Mikesell Subdivision
2005-2010
 Almanza Elementary School

Real St. Almanza Uno Las Piñas City
 2010-2011
SEMINARS TRAININGS ATTENDED

 LUMINANCE: Across the Accounting Panorama
Fr. Bellarmine Baltasar Gymnasium
San Beda College Alabang
August 16, 2017
 ASCEND: ELEVATING JPIANS TOWARDS GREATER

HEIGHTS
INSPIRATIONAL AND MOTIVATIONAL SEMINAR
Ernesto Palanca Crisostomo Hall
University of Perpetual Help System Dalta
Pamplona, Las Pinas City
January 7, 2018

 ASCEND: ELEVATING JPIANS TOWARDS GREATER

HEIGHTS
RECRUITMENT TALK
Ernesto Palanca Crisostomo Hall
University of Perpetual Help System Dalta
Pamplona, Las Pinas City
January 7, 2018
 PICPA-MMR ACCOUNTANCY CONGRESS: “TOWARDS THE

APEX”
University of Makati Grand Theater
University of Makati
J.P. Rizal Extension, Makati City
March 8, 2018

APEX”
CPA LICENSURE EXAMINATION NEW TAXATION TOPIC:
LOCAL BUSINESS TAX
March 8, 2018

APEX”
PERSONAL LEADERSHIP AND CAREER DEVELOPMENT
March 8, 2018


APEX”
TAX REFORM ACCELERATION AND INCLUSION ACT
(TRAIN)
March 8, 2018
SKILLS AND QUALIFICATIONS
 Inclined for being a good listener who takes

information verbally and in writing
 Aptitude in giving the best in work
Conserving the honesty and loyalty behavior

 Perseverance and diligence filled my personality
CHARACTER REFERENCES
I hereby certify that the above information is true and
correct according to my knowledge and belief.

Pascual, Mark
Vincent C.
Blk 3 Lot 6 Phase 1 Ecotrend
Subdivision San Nicolas,
Bacoor Cavite
+639275294893
markvincentpascual97@gmail.com
 Age: 20
 Birthday: September15, 1997
 Nationality: Filipino
 Birthplace: Manila
 Height: 5’6
 Weight: 105.82 lbs.
 Civil Status: Single
 Religion: Roman Catholic
 Language: Filipino & English
 University of Perpetual Help System DALTA

Alabang-Zapote Road, Pamplona III, Las Piñas City, 1740

2015– Present
 St. Michael's Institute – Bacoor Cavite

Poblacion Bacoor Cavite
2011–2015
 Young Shepherd’s School – Bacoor Cavite

San Nicolas 1 Bacoor Cavite
2004 – 2011
ORGANIZATIONAL AFFILIATES
 University of Perpetual Help System DALTA - Junior
Philippine Institute of Accountants
o Member | Federation Year 2015-2016, 2018
SEMINARS AND TRAININGS ATTENDED

 Accountancy and Business Research Form
University of Perpetual Help System DALTA
July 15, 2017
 IN FOCUS: Jumpstarting your CFO career
San Beda College Alabang
September 16, 2018


 An individual who can have time management, priorities and
be organized.
 Determined to do well on all tasks assigned.
 Conserving the honesty and loyalty behavior
 Character references are available upon request


Shara Louiecy Payopas

Block 24 Lot 15 Camella Cerritos Heights
Molino 4, Bacoor, Cavite
09677061604
Shara.payopas@gmail.com
 Date of Birth July 05, 1999
 Age 18 years old
 Place of Birth Molino Bacoor, Cavite
 Father Ricky T. Payopas
 Mother Marilu C.
Payopas
 Religion Roman Catholic
 Sex female
 Civil Status Single
 Language/Dialect Spoken English and Filipino
 University Of Perpetual Help Systems DALTA
Las Pinas, City Bachelor of Science in Accounting

Technology
2015-Present

 Green Valley Academy
Green Valley Molino 2, Bacoor, Cavite

2010-2015
 Marville Center Of Education
Magdiwang Molino 2, Bacoor Cavite

2003-2010

 Proficient in Microsoft Word, Excel, and Powerpoint.
 Has basic knowledge in basic HTML web design.
 scheduling
 Time management
 Character references are available upon request


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University of Perpetual Help System Dalta Page |

Las Piñas Campus i

CREDIT CARD DEBT MANAGEMENT PRACTICES OF

An Accounting Technology Research

Bulan, Cyramil Jade C.

College of Business Administration and Accountancy

This undergraduate thesis entitled “CREDIT CARD DEBT

RYAN JAY CARASCO, CPA AMIR T. AUDITOR, CPA, MSA

ORAL EXAMINATION COMMITTEE

RAQUEL A ALBAN, CPA ANTONIO V. MAICO JR. CPA

DR. LORNA C. CONDES

Accepted in partial fulfillment of the requirements for the degree of Bachelor

LETICIA C. GAMAD, MBA, MAED, DBA

College of Business Administration and Accountancy

The researchers would like to express their deepest

appreciation and utmost gratitude to the people who provided

support and assistance for the improvement of this humble piece of

work. The researchers would like to give thanks to the following

LETICIA C. GAMAD, MBA, MAED, CFNP, DBA, College of

Business Administration and Accountancy of University of Perpetual

the researchers to do well while writing the thesis paper.

MR. AMIR T. AUDITOR, CPA, MSA for sharing his

knowledge to give the researchers a better understanding to the

College of Business Administration and Accountancy

MR. RYAN JAY J. CARASCO, CPA the researchers’

BETINA T. CONDE, PHD, the researchers’ grammarian who

not only checked the study, but give valuable suggestions to

enhance the paper.

Dr. LORNA C. CONDES, the researcher’s statistician for the

inspiration, understanding, and unselfish devotion to share his

mathematical expertise as well as the correction of mistakes.

TO RESPONDENTS, for their willing to participate and time

to answer the questionnaires despite of having busy schedule.

College of Business Administration and Accountancy

TO FAMILIES AND FRIENDS, for the understanding and

unconditional support, both financial and emotionally. They are the

reason why the researchers completed all the requirements and;

And most of all TO ALMIGHTY GOD, for the wisdom and

perseverance that He bestowed upon the researchers before,

during, and after the completion of the study.

College of Business Administration and Accountancy

Name of : University of Perpetual Help System

Address : Pamplona, Las Piñas City

Title : CREDIT CARD DEBT MANAGEMENT

PROFESSIONALS IN LAS PIÑAS

CITY: AN ASSESSMENT AND

IMPROVEMENT FRAMEWORK FOR

CREDIT CARD DEBT MANAGEMENT

Authors : Cyramil Jade C. Bulan

Mary Rose D. Mercado

Mark Vincent C. Pascual

Shara Louiecy C. Payopas

College of Business Administration and Accountancy

Degree : Bachelor of Science in Accounting

Date Completed : October 2018

This study indicates the best credit card management

practices on selected professionals in Las Pinas City in terms of