Factors Affecting Credit Card Debts: A Study among Executives in Sri Lanka

This study explores credit card revolving debt and credit card instalment debt behaviours among credit card holders and examines how demographic and socio economic factors, attitude factors, personality factors and security factors influenced revolving credit and instalment plan of credit cards and discerned the specific roles of each kind of factors. The study was conducted by using online mail-in questionnaires, which were sent to credit card holders who was using or had used either revolving credit or instalmentplans. Thefindings of this research indicate respondents debt behaviour is influenced by demographics and socio economics variables are significantly. Going depth further, it proves that the Females preference forsecurityimprove the credit card transitions. Moreover, females who have distrust characteristics would be a heavy revolver or heavy instalment plan consumers than males. Another finding of this research says Age above 35 years are using credit card daily for power and prestige. People who use credit cards more than 5 years, have less usage indicates that people would not frequently consume credit cards long time.