Banitog, Brigitte C.  <br/><br/>
Uncontrollable spending behavior of credit cardholders :   A qualitative study / 

 - Vol 1 (1) pages 109-135 :  illustrations ; 
<br/><br/> I. ABSTRACT<br/><br/>Behavior is caused. Even uncontrollable spending behavior, too. This study was conducted to<br/>determine credit cardholders' live experiences in using credit cards and the challenges they<br/>have faced in paying off credit card debt. The researchers also want to know how they coped<br/>with the situation. A qualitative descriptive research design was applied to the study, and a<br/>purposive sampling technique was used to select the respondents. The instrument used to<br/>attain the data pertinent to this study was semi-structured interviews designed to assess<br/>relevant information. The data were analyzed using Braun & Clarke's (2006) six steps of<br/>thematic analysis. Based on the study, the following were the findings and conclusions: (1)<br/>Consumer behavior and ease of payment are the live experiences of credit cardholders in<br/>using credit cards; (2) Financial literacy, amortization, and compounding interest are the<br/>challenges faced by the credit cardholders; (3) Debt restructuring and financial management<br/>are the solutions they made in order to pay down their credit card debt. The findings suggest<br/>a need for credit providers to educate clients about the risks of minimum payments and<br/>encourage responsible spending habits. Credit cardholders are advised to prioritize debt<br/>repayment, seek debt restructuring options, and practice effective financial management to<br/>avoid drowning in debt.<br/> 
<br/><br/><label>Subjects--Topical Terms: </label><br/>credit card<br/>uncontrollable spending behavior<br/>credit cardholders