Does Materialism Affect Compulsive Buying Behavior Among Multiple Credit Card Users in Jakarta?

Financial technology is no exception, with non-cash payment devices such as credit cards being one example. Credit cards, on the other hand, can serve as a driving factor in the formation of sensations of satisfaction, pleasure, or socioeconomic position in addition to their role as a means of payment. Credit cards, on the one hand, can operate effectively, but they can also be abused because their usage is uncontrollable. The goal of this research is to find and analyze whether materialism affects the mindset of many credit card owners toward using and buying compulsively. SmartPLS 4.0 was employed in this study's SEM-PLS modeling with 135 multiple credit card users in Jakarta. A Likert scale questionnaire ranging from 1 (strongly disagree) to 5 (strongly agree) was distributed at random. This investigation demonstrates that all hypotheses are correct. Materialism and materialism both have a direct and considerable influence on impulsive purchasing. Not only that but using a credit card mindset demonstrates a considerable link between consumerism and obsessive purchasing. Meanwhile, it is obvious that credit card attitudes have an influence on compulsive buying. Other characteristics, such as hedonism, luxury, or prestige, may be deemed beneficial for future research. The study's limitations stem from the characteristics of utilizing credit cards, notably materialism. Other traits, such as hedonism, extravagance, or status, might be considered complimentary for future research. In addition, the number of credit limits on credit cards possessed is entered for a more in-depth assessment. Similarly, the sample size can be increased to cover a larger and more diversified area.