Understanding Why Temporally Myopic People Have More Credit Card Debt: Two Complementary Explanations

Past research has shown that consideration of future consequences (CFC) may influence financial decision making. The present research examines whether individual differences in CFC predict actual credit card debt and attraction to credit card offers. Study 1 revealed that individuals high in concern with immediate consequences were more likely have higher credit card debt and that compulsive buying fully mediated this effect. Study 2 revealed that individuals concerned with immediate consequences were more attracted to a credit card offer that promised an immediate reward but a high interest rate.


Jeremy Kees, Jeff Joireman, and David Sprott (2009) ,"Understanding Why Temporally Myopic People Have More Credit Card Debt: Two Complementary Explanations", in NA - Advances in Consumer Research Volume 36, eds. Ann L. McGill and Sharon Shavitt, Duluth, MN : Association for Consumer Research, Pages: 880-881.


Jeremy Kees, Villanova University, USA
Jeff Joireman, Washington State University, USA
David Sprott, Washington State University, USA


NA - Advances in Consumer Research Volume 36 | 2009

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