The relationship of financial education and optimism in the use of credit cards

The wide availability of credit cards requires concern about how people can use this credit instrument facing potential negative consequences due to misuse and mismanagement of credit. Thus, this paper analyzes the influence of financial education and optimism in the number of cards of individuals through an ordered logit model to confirm this relationship. We analyzed the responses of 559 individuals and shown that people with higher financial literacy tend to have significantly less credit cards, with similar results for the optimists.