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Why Credit Card Debt Is a Growing Problem for Consumer
Subject area: Management and Commerce · Area of research: Consumer Debt and Financial Behaviour
Abstract
This research investigates the escalating issue of credit card debt among consumers. As credit card usage becomes more prevalent, many individuals encounter financial challenges resulting from overspending, high interest rates, and the pitfalls of minimum payment options. The thesis looks into the psychological, economic, and institutional elements that lead to increasing levels of debt, including consumer habits, income stagnation, and aggressive lending practices. By employing both qualitative and quantitative research methods, this research evaluates trends and provides policy recommendations to address the issue, such as implementing financial literacy initiatives and instituting stricter lending regulations.
How to cite this paper
@article{1708330,
author = {Ananya Kasaudhan },
title = {Why Credit Card Debt Is a Growing Problem for Consumer},
journal = {Iconic Research And Engineering Journals},
year = {2025},
volume = {8},
number = {11},
pages = {307-316},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1708330.pdf},
abstract = {This research investigates the escalating issue of credit card debt among consumers. As credit card usage becomes more prevalent, many individuals encounter financial challenges resulting from overspending, high interest rates, and the pitfalls of minimum payment options. The thesis looks into the psychological, economic, and institutional elements that lead to increasing levels of debt, including consumer habits, income stagnation, and aggressive lending practices. By employing both qualitative and quantitative research methods, this research evaluates trends and provides policy recommendations to address the issue, such as implementing financial literacy initiatives and instituting stricter lending regulations.},
month = {May},
}