Article2013

Exploring the factors influencing credit card spending behavior among Malaysians

Wendy Ming Yen Teoh · Siong Choy Chong · Shi Yong

53 citations0/0 files storedInternational Journal of Bank Marketing

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Financial Literacy, Pension, Retirement Analysis Consumer Behavior and Marketing Influence Financial Literacy and Behavior

Abstract

Purpose This paper explores factors affecting spending behavior of credit card holders in Malaysia. Specifically, variables such as demographic factors, banks’ policies, and credit card holders’ attitudes toward money are examined. Design/methodology/approach A cross‐sectional survey through the use of a structured questionnaire was administered on 150 credit card holders based on the area sampling and convenience snowball sampling techniques. Findings The results indicate that age, income, and marital status have significant correlation with credit card holders’ spending behavior. The same goes to two of the three items identified under banks’ policies (benefits given and payment policies) and attitudes toward money (willingness to pay and awareness of the total debt owed). Occupation, qualifications to apply for credit card, and management of income vs expenses are not significantly related to credit card spending behavior among Malaysians. Research limitations/implications The study serves as a guide for researchers to extend the research work covering more variables in different economies in light of the low R 2 value. The small sample size raises the issue of generalizability, which future studies should address. Practical implications The results could be used as a guide by emerging market economies or even developed countries where credit card usage is a widespread phenomenon. It also provides insights to the credit card issuing banks in terms of understanding their target consumers, preferences, and the effect of their policies on credit card application and use. Originality/value This study sheds light on credit card spending behavior, particularly among Malaysians.

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References

1989Compulsive Buying: A Phenomenological Exploration 1991The Failure of Competition in the Credit Card Market 1996Mental Budgeting and Consumer Decisions 2001Money Attitudes, Credit Card Use, and Compulsive Buying among American College Students 1982The Development of a Money Attitude Scale 1992The meaning of money revisited 1986Credit Cards as Spending Facilitating Stimuli: A Conditioning Interpretation 2001Effects of Payment Mechanism on Spending Behavior: The Role of Rehearsal and Immediacy of Payments

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