A Conceptual Framework on Social Platform, Compulsive Buying and Responsible Use towards Credit Card Debt among Young Adult

Purpose – The purpose of this study is to investigate the current situation of credit card debt among young Adult who are actively involved in social media. Design/Methodology – This article will form a platform of discussion for recent discoveries towards credit card debt. Selected articles from a few journals will be scrutinized for the findings. A comparison would be made with other articles and the conclusion will be discussed towards the end of this article. The respondents came from various countries such as Taiwan, America and China. Finding - As a conclusion, this article has discovered that compulsive buying and social platform such as hot sales event, social marketing, social entertainment and especially social media have evolved. More in-depth discussion in terms of external factor of the surrounding environment should be investigated rather than looking at the psychological and behavioral aspects. Credit card debt has also evolved from traditional shopping towards social commerce. The external factors such as credit card responsible use, financial knowledge and social upbringing should be included instead of source of income of the customer and the expenses incurred. Then, social media is a contributing factor in compulsive buying. The compilation of the articles in recent years has shown an increase of compulsive buying in online shopping. It is one of the factors for behavioral aspect. Furthermore, young adult have always shown the tendency of turning to debt for material possession. The findings of one study interestingly showed that even when one has a sound financial knowledge, the tendency for debt making is still high.