Credit Card Minimum Payment Disclosures Cardholder Interview Results, an E-supplement to GAO-06-434

GAO-06-611SP Published: Apr 21, 2006. Publicly Released: Apr 21, 2006.
Jump To:
Skip to Highlights
Highlights

As part of a study GAO conducted to determine the feasibility and usefulness of providing customized minimum payment disclosures to credit cardholders, we interviewed a total of 112 cardholders in three U.S. cities on their views of various minimum payment disclosures. This document represents a facsimile of the interview guide that we administered to cardholders and includes the results to the closed-ended interview questions. The cardholders recruited for the interviews generally resembled the demographic makeup of the U.S. population in terms of age, education level, and income. However, because our sample did not form a random, statistically representative sample of the U.S. population, the results of our interviews can not be generalized to the entire U.S. population of credit cardholders. Additionally, we selected proportionally more cardholders who typically carry card balances (revolvers) than those who typically pay their outstanding balance in full every month (convenience users). Our sample of 112 cardholders consisted of 74 revolvers (66 percent) and 38 convenience users (34 percent). In administering this guide, cardholders were shown three different sample credit card disclosure statements on the consequences of making minimum payments. We rotated the order in which we showed the disclosure statements to cardholders to control for the learning that could occur during the interview session that could influence their answers in the latter part of the interview. While these one-on-one interviews were administered in-person by an interviewer reading aloud from this guide, respondents were also simultaneously shown cards that listed available answer choices for the closed-ended questions that had several possible answer choices. The interviews were conducted in December 2005 in accordance with generally accepted government auditing standards. A more detailed discussion of our scope and methodology is contained in our report, Credit Cards: Customized Minimum Payment Disclosures Would Provide More Information to Consumers, but Impact Could Vary GAO-06-434.

Supplemental Material

As part of a study GAO conducted to determine the feasibility and usefulness of providing customized minimum payment disclosures to credit cardholders, we interviewed a total of 112 cardholders in three U.S. cities on their views of various minimum payment disclosures. This document represents a facsimile of the interview guide that we administered to cardholders and includes the results to the closed-ended interview questions. The cardholders recruited for the interviews generally resembled the demographic makeup of the U.S. population in terms of age, education level, and income. However, because our sample did not form a random, statistically representative sample of the U.S. population, the results of our interviews can not be generalized to the entire U.S. population of credit cardholders. Additionally, we selected proportionally more cardholders who typically carry card balances (revolvers) than those who typically pay their outstanding balance in full every month (convenience users). Our sample of 112 cardholders consisted of 74 revolvers (66 percent) and 38 convenience users (34 percent).

In administering this guide, cardholders were shown three different sample credit card disclosure statements on the consequences of making minimum payments. We rotated the order in which we showed the disclosure statements to cardholders to control for the learning that could occur during the interview session that could influence their answers in the latter part of the interview. While these one-on-one interviews were administered in-person by an interviewer reading aloud from this guide, respondents were also simultaneously shown cards that listed available answer choices for the closed-ended questions that had several possible answer choices. The interviews were conducted in December 2005 in accordance with generally accepted government auditing standards. A more detailed discussion of our scope and methodology is contained in our report, Credit Cards: Customized Minimum Payment Disclosures Would Provide More Information to Consumers, but Impact Could Vary GAO-06-434.


Instructions for Viewing this Survey

 

How to View The Survey

  • This site provides a copy of the survey instrument and links to responses for each question. Below is information that will help you understand how this site is constructed.
  • Click on the Interview Guide and Results link located in the lower right of this screen. To read to the bottom of the screen, you may need to use your scroll bar on the right side of this screen.

How to View the Responses for Each Question

  • To view the responses to each question, click on links to survey questions that look like this:  etc.).
  • After viewing the responses to each question, click on the "x" in the upper right corner of your screen to close that window and return to the interview guide.

How to Print the Tables of Results

  • If you print the tables of results you may want to set your printer to Landscape. For example, on Internet Explorer you can change the printer settings by going to File, select Page Setup and Landscape.

How to Make the Font Larger on Your Screen

  • You can make the font larger by changing your browser setting. For example, on Internet Explorer you can change the font size by going to View and selecting Text Size.
The Interview Guide and Results