The Use and Abuse of Credit Cards

3360 WordsFeb 22, 201813 Pages
According to Singh, (2011), defined department store as a retail establishment that specialties in satisfying wide range of customers personal and durable product needs. With today’s fast lifestyles, retail shopper have demanded efficiency and flexibility in financial transactions through the use of cashless payment. Cards are certainly important for consumers and retailers because using checks or holding cash often more time consuming compare to retail oriented electronic payment technology.Therefore Lo and Harvey(2011), implies that availability of cards permits compulsive shoppers to satisfy desires for buying, to ignore budget constraints and hence, to overspend over different shoppers. According to Ryan (2009), customers likely to use credit card payment because it often get better services, regular charge customers of department store receive advance notices of sales and special offers that not obtainable to general public and if there’s a problem with a purchases, payment can be withhold until it is resolved. Also Rich (2009) said retail stores, gas stations, department store and other companies cater consumers usually provide and offer own store charge cards. In the transactions of consumer the amount of available either increase or decrease as funds are borrowed and repaid. Purchasing anything using cards is just like taking an unsecured loan that require to be paid back. Using credit cards create life easier and convenient but the downside of using cards is a
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