Abstract
The credit card market has witnessed tremendous growth resulting from a paradigm shift in technology. The genuine usage of credit cards as a form of convenience has diverged to overspending, irresponsibility, revolving liability and bankruptcy. This implies that possession of credit cards has brought about a change in users’ repayment behavior. Thus, this study aims to determine academicians’ credit card repayment pattern in a private tertiary institution in Malaysia. The dependent variable is the repayment pattern and the independent variables that serve as the attributes include personal attitude and spending pattern, while, gender and parenthood serve as the moderating variables. Findings revealed that personal attitude and spending pattern were important attributes in determining the repayment pattern among the academicians. Gender and parenthood were found to play a moderating role in the repayment pattern. Findings from this study is expected to facilitate the government and credit card companies to work towards nurturing a financially healthier and informed society, and also to each out positively to the younger generations through the influence of the academicians.
Highlights
The usage of credit card as a medium of payment has evolved tremendously since their introduction in the United States in the early 20th century (Ahmed, Ismail, Sohail, Tabsh, & Alias, 2010)
The results showed that personal attitude and spending pattern were significant attributes of the credit card repayment pattern of academicians
Only two variables were included in this study, which could indicate that the findings may not be generalizable
Summary
The usage of credit card as a medium of payment has evolved tremendously since their introduction in the United States in the early 20th century (Ahmed, Ismail, Sohail, Tabsh, & Alias, 2010). Credit cards provide an easy and convenient mode of payment to users. A credit card user is only required to present a plastic card loaded with a pre-approved amount to merchants upon transaction at the checkout counter to enjoy the benefits of goods and services. No cash payment is required at the point of purchase. The demand for credit cards accelerated when users began to realize such benefits credit cards offered. Huebner, Fuchs and Ilic (2018) supported the credit card payment mechanism as a direct result of the development of a cashless society The demand for credit cards accelerated when users began to realize such benefits credit cards offered. Huebner, Fuchs and Ilic (2018) supported the credit card payment mechanism as a direct result of the development of a cashless society
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