CARD Act Survey

DRAFT CARD ACT SURVEY

SAMPTYPE	DEFINITION
1	Landline RDD Sample
2	Cell Phone Sample

READ STANDARD INTRO IF SAMPTYPE=1 (LANDLINE):

Hello, I’m (NAME), calling for a US Treasury Department consumer opinion poll. We’re not selling anything, just doing an opinion poll on interesting subjects for the news. Out of all the people age 18 or older who are AT HOME RIGHT NOW, can I please speak to the YOUNGEST (male/female)? (IF NO MALE/FEMALE IN THE HOUSEHOLD, ASK: Then may I please speak to the YOUNGEST (female/male)?)

READ INTRO2 IF SAMPTYPE=2 (CELL PHONE):

Hello, I’m (NAME), calling for a US Treasury Department consumer opinion poll. We’re not selling anything, just doing an opinion poll on interesting subjects in the news. May I please ask if I’ve reached you on a cell phone, or on a regular land-line phone?

1 Cell phone CONTINUE TO QS1

2 Regular land-line phone TERMINATE, DISPO AS “NOT CELL”

DK/No opinion TERMINATE, DISPO AS “NOT CELL”

NA/Refused TERMINATE, DISPO AS A REFUSAL

IF RESPONDENT SITUATION/LOCATION IS INCONVENIENT, E.G. RESPONDENT IS DRIVING, SCHEDULE CALLBACK.

***ASK IF INTRO2=1 (CELL PHONE)***

S1. Are you at least 18 years old, or under 18?

1 Yes, 18+ CONTINUE TO QS2

2 No, Under 18 TERMINATE, DISPO AS “CELL/UNDER 18”

S2. For personal calls, do you only use a cell phone, or do you also have regular land-line telephone service at your home on which I could have reached you?

1 Cell only

2 Also have land-line TERMINATE, DISPO AS “CELL/HAVE LANDLINE”

DK/No opinion TERMINATE, DISPO AS “CELL ONLY DK/REF”

NA/Refused TERMINATE, DISPO AS “CELL ONLY DK/REF”

IF QS2=1 (CELL ONLY), USE STANDARD CO-OP EFFORT AND FALLBACKS.

IF CALL DROPS OR BECOMES UNINTELLIGIBLE, RECALL IN FIVE MINUTES. IF NO ANSWER, TRY AGAIN IN APPROXIMATELY ONE HOUR. IF NO CONNECT, LEAVE MESSAGE: Hello, I’m (NAME) calling for the US Treasury Department consumer opinion poll. Our call dropped earlier. I’ll try you again later. CONTINUE RECALLS EVERY HOUR OR TWO UNTIL SHIFT ENDS. CONTINUE RETRYING WITH NEXT SHIFT.

***ASK IF SAMPTYPE=2 (CELL PHONE)***

D1a. What state do you live in?

1 Alabama 28 Nebraska

2 Alaska 29 Nevada

3 Arizona 30 New Hampshire

4 Arkansas 31 New Jersey

5 California 32 New Mexico

6 Colorado 33 New York

7 Connecticut 34 North Carolina

8 Delaware 35 North Dakota

9 District of Columbia/Washington, DC 36 Ohio

10 Florida 37 Oklahoma

11 Georgia 38 Oregon

12 Hawaii 39 Pennsylvania

13 Idaho 40 Puerto Rico

14 Illinois 41 Rhode Island

15 Indiana 42 South Carolina

16 Iowa 43 South Dakota

17 Kansas 44 Tennessee

18 Kentucky 45 Texas

19 Louisiana 46 Utah

20 Maine 47 Vermont

21 Maryland 48 Virginia

22 Massachusetts 49 Virgin Islands

23 Michigan 50 Washington

24 Minnesota 51 West Virginia

25 Mississippi 52 Wisconsin

26 Missouri 53 Wyoming

27 Montana NA/Refused

[IF D1a= 40 or 49, TERMINATE. ELSE, GO TO Q1.]

1. Do you or your spouse or partner have any general purpose credit cards such as a Visa, MasterCard, Discover, or American Express card? Just to be clear – we are asking about general purpose credit cards, not debit cards or store cards or gasoline cards.

   1. Yes

   2. No

   3. Don’t Know

   4. Refused

[If Q1=Yes, skip to #4; ELSE go to #2]

2. At some time in the past did you have any general purpose credit cards?

   1. Yes

   2. No

   3. Don’t Know

   4. Refused

[If Yes go to #3; ELSE, skip to DEMOGRAPHIC QUESTIONS]

3. Which of the following best describes what happened to the credit cards you used to have?

1. I decided to close the account and make purchases in other ways such as with a debit card

2. I fell behind on my payments and the bank closed my account

3. I closed some accounts and other accounts were closed by the bank

4. Other

[SKIP ALL TO DEMOGRAPHIC QUESTIONS]

[ASK IF Q1=Yes.]

4. How many general purpose credit cards do you currently have?

One

Two

Three

Four or More

5. On average, how many times a month do you use any of your general purpose credit cards?

   1. Once or Twice

   2. Three or Four Times

   3. Five or Six Times

   4. More than Six Times

   5. I do not use any of my general purpose credit cards

[If Q5=“I do not use any…” go to #6; ELSE skip to #7]

6. Do you currently have a balance on any of your general purpose credit cards that you carried over from the prior month?

Yes

No

Don’t Know/Unsure

[If Q6=Yes GO TO #8; else skip to DEMOGRAPHIC QUESTIONS]

[ASK IF Q5=a THROUGH d.]

7. Which of the following best describes the way you use your general purpose credit cards?

   1. I always pay my credit card balances in full on all my cards

   2. I sometimes pay my credit card balances in full and sometimes carry a balance from month to month

   3. I usually carry a balance from month to month on at least one of my cards

   4. Other (explain)

[If answer to #7 is (a) skip to question #10; ELSE go to #8]

[ASK IF Q7=b THROUGH d OR Q6=Yes.]

8. What is the approximate total balance you owe on all of your general purpose credit cards?

DO NOT READ ANSWER CHOICES; CODE APPROPRIATELY

1. Less than $500

2. $500 – $999

3. $1000 – $1999

4. $2000 – $2999

5. $3000 – $3999

6. $4000 – $4999

7. $5000 or more

8. Don’t know

9. Refused/I would prefer not to answer

8(a) Which of the following best describes your usual payments?

[RANDOMIZE A-C]

1. I usually pay only the minimum amount due each month

2. I usually pay the same amount each month

3. I usually pay the same percentage of the bill each month

4. The amount and percentage of the bill that I pay each month varies from month to month

9. Thinking about the general purpose credit card you use most often, how much did you pay in interest on that card in the last year?

RECORD NUMERIC RESPONSE; IF RESPONDENT DOES NOT KNOW, ASK FOR BEST GUESS

[ASK ALL QUALIFIED]

10. And how much did you pay in fees, such as annual fees, late fees, overlimit fees, or other fees in the last year on that card?

RECORD NUMERIC RESPONSE; IF RESPONDENT DOES NOT KNOW, ASK FOR BEST GUESS

10(a) What is the interest rate or APR you are charged on your outstanding balance on that card?

RECORD PERCENTAGE RESPONSE; IF RESPONDENT DOES NOT KNOW, ASK FOR BEST GUESS

[ASK ALL QUALIFIED]

11. Have you noticed any changes in the information contained on your credit card bills in the past year?

    1. Yes

    2. No

    3. Don’t Know

    4. Refused

[If Q11=yes proceed to question #12; ELSE, skip to question #13]

[ASK Q12 if Q11=Yes]

12. What changes have you noticed?

DO NOT READ ANSWER CHOICES; Code open-ended response appropriately

[RANDOMIZE A-C]

1. Changes with respect to information regarding minimum payments

2. Changes with respect to late fee warnings

3. Changes with respect to total interest or fees paid during the year

4. Other

[ASK ALL QUALIFIED]

13. I want to ask you about some specific changes that may have occurred in your credit card bills. Which of the following is true with respect to the credit card bills you receive?

IF RESPONDENT SAYS ONLY SOME BILLS HAVE CHANGED, ASK ABOUT THE CREDIT CARD USED MOST OFTEN

13a The bill contains information about how long it will take to pay off my balance and how much interest I will pay if I pay only the minimum payment

1. Yes

2. No

3. Don’t Know/Unsure

4. Refused

13b The bill contains information about how much I should pay if I want to pay off the balance in three years

1. Yes

2. No

3. Don’t Know/Unsure

4. Refused

13c The bill reports the total amount of interest and fees I paid during the year

1. Yes

2. No

3. Don’t Know/Unsure

4. Refused

[IF Q13a=Yes OR Q13b=Yes OR Q13c=Yes, go to #14; ELSE, skip to #15]

[ASK Q14 IF Q13a=Yes OR Q13b=Yes OR Q13c=Yes]

14. What impact has this information had on your actions?

Read Answer choices. Accept more than one answer

[RANDOMIZE A-E. DO NOT ALLOW F if any response A-E selected]

1. It has led me to pay more than the minimum balance each month

2. Although I usually paid more than the minimum balance, it has led me to pay even more each month

3. It has led me to limit my use of credit cards

4. It has led me to review my credit card bills more carefully

5. It has led me to pay less than I used to pay each month

6. It has had no effect on me

[ASK ALL QUALIFIED]

15. I want to ask you about two other changes you may have noticed in your credit card bills. Which of the following is true with respect to the credit card bills you receive:

IF RESPONDENT SAYS ONLY SOME BILLS HAVE CHANGED, ASK ABOUT THE CREDIT CARD USED MOST OFTEN

15a The bill contains a warning about the late fee that will be charged if I am late

1. Yes

2. No

3. Don’t Know/Unsure

4. Refused

15b The due date for the bill is the same day of the month each month

1. Yes

2. No

3. Don’t Know/Unsure

4. Refused

15c The time between when I receive the bill and when my payment is due is longer than it used to be

1. Yes

2. No

3. Don’t Know/Unsure

4. Refused

[IF Q15a=Yes OR Q15b=Yes OR Q15c=Yes, go to #16; ELSE, skip to #17]

[ASK Q16 IF Q15a=Yes OR Q15b=Yes OR Q15c=Yes]

16. What impact have these changes had on your actions?

Read Answer choices. Accept more than one answer (but not C with A or B)

[IF Q16=c, then Q16≠a or b]

1. I have been more careful to make sure my payment is received on time

2. They have made it easier for me to avoid being late

3. They have had no effect on me

[ASK ALL QUALIFIED]

17. Is your credit card bill easier to read and understand now than it used to be?

IF RESPONDENT SAYS ONLY SOME BILLS HAVE CHANGED, ASK ABOUT THE CREDIT CARD USED MOST OFTEN

1. Yes

2. No

3. Don’t Know/Unsure

4. Refused

18. Are the terms for using the card clearer now than they used to be?

    1. Yes

    2. No

    3. Don’t Know/Unsure

    4. Refused

19. Do you trust credit card companies more or less than you did a year ago?

More

Less

The Same

Don’t know/Unsure

20. How fairly or unfairly have your credit card companies treated you, in general, over the past year?

Very fairly

Somewhat fairly

Neither fairly nor unfairly

Somewhat unfairly

Very unfairly

Don’t know/Unsure

21. What is your level of satisfaction or dissatisfaction with the interest rates and fees charged on credit cards?

Extremely Satisfied

Somewhat Satisfied

Neither Satisfied nor Dissatisfied

Somewhat Dissatisfied

Extremely Dissatisfied

22. And what is your level of satisfaction or dissatisfaction with the other terms of credit cards?

Extremely Satisfied

Somewhat Satisfied

Neither Satisfied nor Dissatisfied

Somewhat Dissatisfied

Extremely Dissatisfied

23. Have you taken advantage of a balance transfer offer in the past year?

Yes

No

Unsure

24. During the past twelve months did you apply for a general purpose credit card?

Yes

No

Unsure

[If Q24=yes, go to #25; ELSE, skip to Q31]

25. For how many credit cards did you apply?

26. Which of the following best describes how you heard about the [IF Q25=1, “card”; IF Q25>1, “cards”] for which you applied?

READ ANSWER CHOICES

[RANDOMIZE A-F]

1. I received something in the mail or via e-mail about the [IF Q25=1, “card”; IF Q25>1, “cards”]

2. I saw an advertisement on the Internet

3. I saw an advertisement on TV or in a newspaper or magazine

4. I heard about it from a friend or co-workers

5. Someone at my bank told me about it

6. Someone at a store at which I was shopping told me about it

7. Other

27. Which of the following better describes how you decided to apply for [IF Q25=1, “this”; IF Q25>1, “these”] credit cards?

Read Answer choices. Accept more only one answer

1. I shopped around and compared several different cards before selecting the [IF Q25=1, “card”; IF Q25>1, “cards”] for which I applied

2. I applied for [IF Q25=1, “a card”; IF Q25>1, “cards”] that I had read or heard about and that seemed attractive to me but I did not do a lot of comparative shopping

3. I applied for a number of cards because I needed credit and was not sure who would approve my application

4. Other

[IF Q27=A go to #28; IF Q27=B AND Q27≠A, skip to #29; ELSE skip to Q31]

[ASK #28 IF Q27=a]

28. How easy or difficult did you find it to be to compare credit cards to determine which has the lower costs, best benefit, or least risks for you

Very easy

Somewhat easy

Somewhat difficult

Very difficult

Unsure

[ASK #29 IF Q27=a or Q27=b]

29. On a scale of 1 to 5, with 5 being extremely important and 1 being not at all important, how important were each of the following factors in your decision to apply for the credit card

    1. The introductory interest rate on balance transfers and/or purchases

[RECORD 1 – 5]

2. The permanent interest rate after the end of the introductory period

[RECORD 1 – 5]

3. The bonus I could earn by applying or by making a few purchases

[RECORD 1 – 5]

4. The rewards I could earn if I continue to use the card

[RECORD 1 – 5]

5. The fees charged on the card,

[RECORD 1 – 5]

6. Other

[RECORD 1 – 5]

[IF on Q29 RESPONDENT SELECTED gave more than one attribute (A though F) his highest rating (for example, Q29a=5 AND Q29d=5, OR Q29a=4 and Q29b=4 and Q29C-F≠5) THEN ASK Q30 for attributes given highest rating on Q29 (For example Q29a and Q29d in the first example above and Q29a and Q29b in the second example above); ELSE, SKIP TO DEMOGRAPHIC QUESTIONS]

30. Which factor was the most important in your decision to apply for the credit card?

    1. The introductory interest rate on balance transfers and/or purchases

    2. The permanent interest rate after the end of the introductory period

    3. The bonus I could earn by applying or by making a few purchases

    4. The rewards I could earn if I continue to use the card

    5. The fees charged on the card,

    6. Other

CARD ACT QUESTIONS [ASK ALL QUALIFIED]

31. One year ago, a new law took effect called the Credit CARD Act which strengthens consumer protection in the credit card market. How familiar would you say you are with this law?

    1. Very Familiar

    2. Somewhat Familiar

    3. Not Very Familiar

    4. Not At all Familiar

[If Not at All Familiar skip to DEMOGRAPHIC QUESTIONS; ELSE go to #32]

32. And how helpful do you think this law has been to you personally?

Very helpful

Somewhat helpful

Neither helpful nor unhelpful

Somewhat unhelpful

Very Unhelpful

Unsure

[DEMOGRAPHIC QUESTIONS – ASK ALL]

I now want to ask you a few questions strictly for statistical purposes

QD1. May I please have your age as of your last birthday? (DO NOT READ LIST UNLESS RESPONDENT HESITATES)

1. Under 25

2. 25 to 34

3. 35 to 44

4. 45 to 49

5. 50 to 54

6. 55 to 59

7. 60 to 64

8. 65 to 69

9. 70 to 74

10. 75 to 84

11. 85 or older

12. Refused

QD2. What was the last grade of school you completed? (DO NOT READ)

1. Completed grade school or less

2. Some high school, not completed

3. Completed high school

4. Some college, not completed

5. Completed college

6. Post graduate work (such as a masters degree, PhD, MD or law degree, whether started or completed)

7. Refused

QD3. Are you married?

1. Yes

2. No

3. Refused

QD4. How many people live in your household at the present time? Please include yourself and any children.

1. Record exact number ______

2. Refused

QD5. Are you of Hispanic or Latino origin?

1. Yes

2. No

3. Don’t know

4. Refused

QD6. I am going to read a list of racial categories. Please choose one or more categories that best indicates your race. Are you? (READ AND RANDOMIZE 1 – 5. ENTER YES/NO FOR EACH. IF PERSON REFUSES TO ANSWER ON FIRST TWO RACES READ, CODE “REFUSED” ON REMAINING RACES AND SKIP TO QD8)

1. White

2. Black or African American

3. American Indian or Alaska Native

4. Asian

5. Native Hawaiian or Other Pacific Islander

6. Some other race (ASK ONLY IF NO OR DK OR REF TO ALL PARTS 1 - 5)

7. Don’t Know

8. Refused

QD7 How good do you believe your credit rating is?

1. Excellent

2. Good

3. Fair

4. Poor

[IF RESPONDENT IS QUALIFIED, ASK QD8. IF RESPONDENT IS NOT QUALIFIED, SKIP TO QD10]

QD8 To make ends meet do you sometimes have to skip making your monthly payment or pay less than the minimum?

1. Yes

2. No

QD9 How confident are you that you could come up with $2000 if an unexpected need arose within the next month?

1. I am certain I could up with the full $2000

2. I could probably come up with $2000

3. I could probably not come up with $2000

4. I am certain I could not raise the full $2000

QD10. Now I would like to read a series of income groups. Please stop me when I read the group which describes your total household income, from all sources, over the past year.

1. Under $15,000

2. $15,000 to less than $20,000

3. $20,000 to less than $25,000

4. $25,000 to less than $30,000

5. $30,000 to less than $40,000

6. $40,000 to less than $50,000

7. $50,000 to less than $75,000

8. $75,000 to less than $100,000

9. $100,000 or more

10. Don’t know

11. Refused

QD11. What is your gender? (By Observation)

1. Male

2. Female