Credit card debt among young Malaysians: A conceptual framework

The credit card industry in Malaysia has grown, as more businesses accept credit card for financial transactions. However, majority of young adults today are burdened by credit card debts. Hence, this study investigates the factors that affect credit card debt among young adults in Malaysia. This research details a conceptual framework, sheds light on the reasons why young Malaysians fall into credit card debt trap, and provides strategies for helping them to use credit cards appropriately. Six independent variables will be used to develop arguments, and hypotheses for the specific effects of credit card debt. The six independent variables are compulsive buying, impulse buying, social support, interest rate, education, and beliefs on credit card. This framework would be helpful for assessing the key factors affecting credit card debts in Malaysia and could provide some bases for further investigation involving larger stakeholders.