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Credit card incentive on consumer borrowing is the process by which the credit card lenders provide credit balance to the consumers (Agarwal et al., 2015). The credit balance is provided to the consumers on the basis of credit limits and rate of interest. Credit card companies also use different types of promotional activities to increase the sale of credit cards. Low rate of interest and various discounts offers increases the popularity of the credit card (Jiang & Dunn, 2013). Credit card incentives also develop the economy of any country as a whole. The buying behaviors of the customer also have a huge impact on the credit card consumer borrowing.
Credit cards have a huge impact on the buying behavior of the customers. Moreover, these cards have created a new mentality in the minds of the people. Credit cards have given an opportunity to the customers where they can spend more and save less (Chan et al., 2015). However through credit card, the savings of the customer has shown a gradual decline. This affects the savings attitude of the customers. Therefore, in this research, the level of consumer borrowing will be identified through appropriate research methodologies.
The most important significance of credit card incentive is increasing the level of consumer borrowing. This has a huge impact on the buying behavior of the consumer and in business. The credit card companies can also increase their revenue through credit card offerings (Zinman, 2013). Any product which is purchased through credit card is costly for the consumers. On the other hand, credit card increases the sale of the profitability of the credit card companies. Though it seems that credit card increases the purchasing power of an individual but in the long term, it reduces the purchasing power of the individual.
The aim of the research activity is to find out the impact of credit card incentive on the purchasing power of the individuals.
H0: Significant relationship exists between the borrowing attitudes of a consumer and incentive packages provided by a credit card companies.
H1: Significant relationship does not exist between the borrowing attitudes of a consumer and incentive packages provided by a credit card companies.
In this assignment the researcher has discussed the effect of the credit card incentive on consumer borrowing. Credit cards initially increase the purchasing power of the consumers but in the long-term, the purchasing power will be reduced. Excessive uses of credit cards will help the credit card companies to increase the revenue generation of the credit card organization. The credit card companies have also introduced different offers and cash discounts to attract the customers. The researcher will use research methodology structure to complete the survey process.
Agarwal, S., Chomsisengphet, S., Liu, C. &Souleles, N.S., (2015). Do consumers choose the right credit contracts?. Review of Corporate Finance Studies, p.cfv003.
Anfara Jr, V. A., & Mertz, N. T. (2014). Theoretical frameworks in qualitative research. Sage Publications.
Arango, C., Huynh, K.P. &Sabetti, L., (2015). Consumer payment choice: Merchant card acceptance versus pricing incentives. Journal of Banking & Finance, 55, pp.130-141.
Carlton, D.W. & Winter, R.A., (2014). Competition Policy &Regulation in Credit Card Markets: Insights from Single-Sided Market Analysis. Available at SSRN 2532166.
Chan, S., Haughwout, A., Hayashi, A.T. & Van der Klaauw, W., (2015). Determinants of mortgage default & consumer credit use: the effects of foreclosure laws & foreclosure delays. FRB of New York taff Report, (732).
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