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@article{193340,
        author = {Aditya Kathekar and Prof. Saroj Dayashankar Jha and Owais patel and Abdul patel and Krish Yadav and Indrajeet mahato},
        title = {Credit card usage and debt management},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {12},
        number = {10},
        pages = {32-40},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=193340},
        abstract = {The increasing use of credit cards has significantly transformed consumer spending behavior in modern economies. Credit cards provide convenience, purchasing flexibility, and short-term credit facilities, but improper usage can lead to excessive debt and financial instability. This study aims to examine credit card usage patterns and debt management practices among consumers, with a focus on spending behavior, repayment habits, and awareness of interest rates and associated charges.
This research paper examines the patterns of credit card usage and evaluates debt management practices adopted by consumers. The study is based on primary data collected through a structured questionnaire and secondary data gathered from academic journals, books, and institutional reports. The analysis focuses on spending behavior, repayment habits, and awareness levels related to credit card operations.  that limited financial literacy, impulsive spending, and dependence on minimum payment options are the major contributors to credit card debt. The study concludes with practical suggestions to promote responsible credit card usage and effective debt management.
The findings reveal that credit cards are widely used for routine expenses such as online shopping, bill payments, and lifestyle consumption rather than emergency needs. A significant proportion of respondents rely on partial or minimum payments, which results in the accumulation of interest and prolonged debt cycles. The study also highlights a lack of adequate awareness regarding interest rates, penalty charges, and repayment conditions among many users, leading to ineffective debt management.
The study concludes that while credit cards serve as a useful financial instrument, their benefits can only be realized through responsible usage, financial discipline, and timely repayment. Improved financial literacy, transparent communication by financial institutions, and responsible consumer behavior are essential for reducing credit card debt and promoting long-term financial stability. The results of this study provide valuable insights for consumers, financial institutions, and policymakers in developing strategies to encourage responsible credit card usage and effective debt management.},
        keywords = {},
        month = {March},
        }