ISLAMABAD: More than half of Pakistanis don’t not know what credit is, according to the findings of a survey released on Tuesday.
A nationally representative sample of men and women from across the four provinces was asked: “Do you know what a credit card is?” In response, 53 per cent said they did not know what a credit card was, while 46pc answered in the affirmative. Besides, 1pc did not know or did not wish to respond.
The survey, conducted during June 13 to June 20, was released by Gilani Research Foundation and carried out by Gallup Pakistan, an affiliate of Gallup International.
The sample size was 1,813 people. Error margin was estimated to be around 2-3pc at 95pc confidence level.
Published in Dawn, August 24th, 2016
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Comments (13) Closed
Ghaffar Yusuf UAE
Aug 24, 2016 08:54am
Good survey Do you know what a credit card is?” 53 per cent said they did not know what a credit card was, while 46pc answered in the affirmative. Besides, 1pc did not know or did not wish to respond. (its mean 54 % nothing know about c/card. out 46 % how many have credit cards ? there are no education, poor banking system.
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abood
Aug 24, 2016 08:58am
Sample should say where they took the sample.in villages no one even knows what an Atm card is.they should ask this in the cities.
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Michael Desouza
Aug 24, 2016 09:04am
Yes.......... more than half the Pakistanis don't know what a credit card is because they don't have the income to support it....and ideally they should not own one, especially if you are not educated enough to manage one. Most Pakistanis have experienced the financial TRAP in the past and had ended up digging another hole to fill the previous one. Please spare the common Pakistani.
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illawarrior
Aug 24, 2016 09:44am
Fantastic! So many people get themselves into financial difficulty with credit cards, it is great that so many people don't know about them.
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Faysal
Aug 24, 2016 10:01am
Its a blessing that 53 percent of our population don't know about the curse. Otherwise, the news would be "53 percent of our population don't know that they are being charged minimum 40 to 42 percent interest on their credit cards"
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HADI
Aug 24, 2016 11:08am
Its a very good sign that 53 percent of our population don't know about the curse. Otherwise, the news would be "53 percent of our population don't know that they are being charged minimum 40 to 42 percent interest on their credit cards " Credit cards are always interest on interest and so on.......
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AHA
Aug 24, 2016 11:21am
Good it in positive way that 53 pc don't need any credit and they are self sufficient.
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Kamal Pasha.
Aug 24, 2016 11:26am
Who will issue credit cards to 53% when they are worried about the next meal?
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Lost cause
Aug 24, 2016 12:34pm
Not bad.
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haris
Aug 24, 2016 02:29pm
53% of my fellow citizens don't know what Credit Card is... It's a blessing in disguise.
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Ranade
Aug 24, 2016 10:35pm
This should be considered a good thing! Living within your means may not sound 'cool' but is very important for long term fiscal stability.
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anony
Aug 24, 2016 10:44pm
I know what a credit card is, but I personally choose not to use them.
First because interest is forbidden in my religion.
Second, I'd rather spend what I have than to be in debt. Live within my means.
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illawarrior
Aug 26, 2016 10:30am
@anony If you pay the balance in full each month, no interest is incurred.
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