2015年-FCA英国金融行为监管局_ms14_6_2_ccms_annex_3_1_171页_3mb

报告摘要

Credit Card Market Study: Consumer Survey Summary

Core Content

This document outlines the design and implementation of the Consumer Survey conducted by the Financial Conduct Authority (FCA) in 2015. The survey aimed to improve the FCA’s understanding of consumer behavior related to shopping around for credit cards and switching credit cards. The survey was developed with the assistance of independent consultants and fielded by YouGov, with a focus on quantitative data collection through an online format.

The survey was structured into three main sub-samples:

Active users: Those who used a credit card regularly or in the last 12 months.
Inactive users: Those who had a credit card but did not use it in the last 12 months.
Non-users: Those who had no credit cards.

Each group received a tailored version of the questionnaire, with active users receiving the most detailed one. The design process involved modular questions, where respondents were only asked questions relevant to their specific credit card usage or behavior, to ensure relevance and manageable length.

The survey was designed to avoid excessive drop-out by limiting the total interview time to 16 minutes. To achieve this, a modular approach was adopted, where only a random subset of respondents who qualified for multiple modules were selected for each module.

Main Survey Design

2.1 Design Principles

The questionnaire was designed to:

Be unambiguous and structured.
Be suitable for online surveying.
Cover key topics such as:
- Shopping around and switching behavior.
- Motivation for switching or not switching.
- Understanding of product features and complexity.
- Repayment patterns and behavioral biases (e.g., present bias, limited attention, overconfidence).

2.2 Implementing Modules

Two groups of modules were implemented:

Credit card held/usage modules:
- Based on the type of card or usage (e.g., rewards, no/poor credit history, balance transfer).
- Modules were qualified based on the MAIN credit card.
- For balance transfers, the card that received the transfer was the focus of detailed questioning.
Considering and taking out credit cards modules:
- Based on whether respondents had considered or taken out a new credit card in the past 12 months.
- Modules included:
  - Took/Did not look
  - Looked/Took
  - Looked/Did not take

2.3 Module Allocation Algorithms

To ensure representativeness and sample size optimization, allocation algorithms were used for respondents who qualified for multiple modules. These algorithms:

Used random selection.
Prioritized modules with lower expected response rates.

The algorithms were adjusted for single and multiple credit card holders, due to differing response patterns.

2.4 Omnibus Survey for Testing

An Omnibus survey was conducted to test qualification criteria and estimate module sample sizes. It involved 2,128 interviews and provided:

Insight into response rates and confusion.
Feedback that led to refinements in the final questionnaire.

2.5 Questionnaire Length and Recall Time

The recall period was reduced from two years to 12 months to improve accuracy.
This change also reduced eligibility for some modules, thus affecting sample sizes.

2.6 Answer Scales

A variety of answer scales were used in the final survey, including:

3-point scales (e.g., Too much; Enough; Too limited)
4-point scales (e.g., Very concerned; Slightly concerned; Not really concerned; Not at all concerned)
5-point scales (e.g., A lot more than expected; About as much as expected; A little less; A lot less)

These scales were selected based on the type of question and the level of granularity required for analysis.

Pilot Survey Feedback

The pilot survey (March 16–17) involved 1,009 interviews and identified several issues:

Some questions were too long or complex, leading to drop-out.
Free-text options were removed in the final version due to length concerns.
Terminology and question clarity were improved based on feedback.
Repetition of questions was noted, particularly when respondents were asked about non-MAIN cards.

Based on these findings, several changes were made in the main survey, including:

Simplifying question formats.
Changing the time horizon for recall to 12 months.
Modifying answer options and question routing.
Dropping some questions and adding new ones to better capture behavior and motivations.

Main Survey Changes

The main survey incorporated changes from the pilot, including:

Module qualification based on MAIN credit card.
Revised question structures and answer options.
New questions on interest payments, balance transfers, and card usage.
Reduction of free-text options to improve survey efficiency.
Adjustment of recall periods to 12 months.

Key Information

The final questionnaire was designed to ensure relevance and manageable length.
Modular design allowed for targeted questioning without overwhelming respondents.
Random allocation was used for multiple-qualified respondents to maintain representativeness.
Omnibus survey played a crucial role in estimating sample sizes and refining the module allocation process.
The survey results are representative of respondents' experiences with their MAIN credit card, not all cards they may have held.