Compulsive Buying Behaviour of Credit Card Users and Affecting Factors Such as Financial Knowledge, Prestige and Retention Time: A Cross-sectional Research

Rahul Khandelwal, Ashutosh Kolte, Nitin Veer and Pratik Sharma

Vision, 2022, vol. 26, issue 2, 172-180

Abstract: A leading concern in client and vender relations is that the rising new situation of influence deploying of the credit card market. This situation is accountable for compulsive buying, which has disapprovingly exaggerated consumers, leading to impossible debt levels. Financial counsellors search for why and how individuals get themselves into financial debt. Compulsive buying behaviour and credit card could have a powerful effect on consumers’ financial stability. Further, in place of comprehending credit card usage and compulsive buying, this study correlates them with wealth attitudes such as power-prestige, financial knowledge and retention time. A cross-sectional descriptive research design using convenience sampling and non-probability sampling with quota samples of 313 credit cardholders was surveyed. The outcome showed that those with power-prestige money attitudes are likely to have free usage of credit cards through compulsive spending. Results also showed that those with a higher financial understanding have lower compulsive spending off the credit card.

Keywords: Credit Card Usage; Compulsive Buying; Money Attitude; Financial Literacy (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:sae:vision:v:26:y:2022:i:2:p:172-180

DOI: 10.1177/0972262920981428

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