Transforming Online Negative Blogs in the Use of Credit Cards in Electronics Transactions into Constructive Action: Basis of Creating Business Spend Analyzer Model

  • Nenita B. Nagarit, DBA
  • Susana C. Bautista, EdD.
  • Ferdinand C. Somido, Dr.
  • Pedrito Jose V. Bermudo, Dr.
  • Antonio R. Yango, Dr.
  • Leomar S. Galicia, Dr.

Abstract

This exploratory qualitative research aimed at combining the negative perception of cardholders to negative blogs in using a credit card purchasing power   in   order   to   develop   a   new   business   model   and   spent   analyzer, i.e., transforming   online   negative   blogs   in   the   use   of   credit   cards   in   electronic transactions   as   basis   for   creating   a   business   spend   analyzer   model. Specifically, it looked into the negative blogs posted by the credit card holders in terms of visa/master cards electronic business transactions, the analysis of negative blogs to produce a useful information for the visa and master cards holder, and the creation of business spend analyzer model. There were 1793 blogs considered and used in the study and 12 themes emerged   namely;   failure   to   transact   payments,   failure   to   reflect   payments, failure to update, failure to give discounts, no reward points,  excessive annual fees, failure to use, no cash out, too many calls, received threats, legal letters and experienced embarrassing situation. Based on the analysis of the online negative   blogs, Semantia   software   had   been   used   and   revealed   that   the sentiment analysis is .024 and generally neutral, however its neutrality tends to be more into negative   as the  number  of negative   blogs is   becoming more evident  against the positive words.   Modifying the model and removing the Acquirer entity can save the credit card holders in paying the hidden cost and can just be converted to savings. The used of spent analyzer is acceptable as it gradually allows the credit card holder to recover from the net of debt.

Downloads

Download data is not yet available.

References

Anderson, L. M., & Bateman, T. S. (2011). Cynicism in the workplace: Some Causes and Effects. Journal of Organizational Behavior, 18(5),449–

Anderson, M.L. (2011).Embodied cognition: a field guide. Artificial Intelligence: Field Review, 149, 91-130.

Bank of America. (2016). The Advantage of Credit Cards. Equal Housing Lender. https://www.bankofamerica.com/credit-cards/education/advantages-of-credit-cards.go.

Bausch, P., Haughey M., & Hourihan M. (2002). We Blog: Publishing Online with Weblogs. Wiley.

Bechara, A., & Damasio, A. (2015). The Somatic Marker Hypothesis: a Neural Theory of Economic Decision-making. Games and Economic Behavior, 52, 336–372. Belk, R. W. (1988). Possessions and extended self. Journal of Consumer Research, 15, 139- 168.

Belk, R. W., & Wallendorf, M. (2000).The scared meanings of money. Journal of Economic Psychology, 11, 35-67.

Bell, D. (1976). The Cultural Contradictions of Capitalis. New York: Basic Books.

Blodgett J., Granbois D.H., Walters R.G. (1993). The effects of perceived justice on complainants negative word-or-mouth behavior and repatronage intentions. Journal Retailing. Vol. 69(4). 399-428.

Burgoyne, C. B. & Routh, D. A. (2011). Constraints on the Use of Money as a Gift at Christmas: The Role of Status and Intimacy. Journal of Economic Psychology.12, 47- 69.

Burns, S.N. & Grove, S.K. (1993). The Practice of Nursing Research. Goodwood: National Book Printers

CA. Citizen Advice (2016). Problem with Credit Cards. Retrieved November 10, 2016 from https://www.citizensadvice.org.uk/debt-and-money/borrowing-money/credit-cards/problems-with-credit-cards/.

Caldwell, M. (2009). Is it worth having a credit card to earn the rewards? About.com Guide. Retrieved from http://moneyfor20s.about.com/od/creditcards/f/creditcardrewards.htm

CCB. Credit Cards Blog. (2016). Retrieved November 29, 2016 from https://www.google.com.ph/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=blogs%20for%20credit%20cards
Cortina, J.M. (1993). What is coefficient alpha? An of theory and applications" Journal of Applied Psychology. pp. 98–104. http://psychweb.psy.umt.edu/denis/datadecision/front/cortina_alpha.pdf

Feinberg, R.A. (1986). Credit cards as spending facilitating stimuli: a conditioning interpretation. Journal of Consumer Research, 13(3), 348-356. http://dx.doi.org/10.1086/209074

Fiske, J. (2011). Introduction to Communication Studies. London: Routledge

Fiske, S. T., & Taylor, S. E. (2011). Social cognition (2nd ed.). New York: McGraw-Hill.
George, D., & Mallery, P. (2003). SPSS for Windows step by step: A simple guide and reference. 11.0 update (4th ed.). Boston: Allyn & Bacon.

Glimcher, Camerer, Poldrack & Fehr (2011) Neuroeconomics: Decision Making and the Brain. Glimcher Paul W., Camerer Colin, Poldrack Russell, Fehr Ernst (Eds.) Academic Press: London, 2008. ISBN 9780123741769.

Hirschman, E.C. (1979). Differences in consumer purchase behavior by credit card payment system. Journal of Consumer Research, 6 (1), 58-66. http://dx.doi.org/10.1086/208748

Joy, Athena. (2015). A Study on Customer’s Perception Towards Credit Cards. School of Management Studies. 2249-55X. Vol. 5(6).

Jusoh, Zuroni & Lim, Lim Yen. (2012). Personal Knowledge and Card Practices Among Working Adults in Malaysia. International Journal in Social Science, 3(7), 176-185.

Key, James P. (2007). Research Design in Organizational Education. U.S.A.: Oklahoma, Oklahoma University Publishing House.

Lakoff, G., & Johnson, M. (2011). Philosophy In The Flesh: the Embodied Mind and its Challenge to Western Thought. Basic Books. ISBN 0465056741.

Livingstone, S.M. and Lunt, P.K. (1992). Predicting personal debt and debt repayment: psychological, social and economic determinants. Journal of Economic Psychology, 13, 111-134. http://dx.doi.org/10.1016/0167-4870(92)90055-C

Mandell (1990). The Credit Card Industry: A History. Boston: Twayne Publishing House.
McLuhan, Marshall. 1964. Understanding Media: The Extensions of Man. New York: McGraw-Hill.

Mouton, Johann (2011). Understanding Social Research. South Africa: Cape Town Oxford University Press Southern Africa, 2001

O’Keeffe, P.J.L., Desai, A.J., Foroughi, K., Hibbett, G.J., Maxwell, A.F., Sharp, A.C., Taverner, N.H., Ward, M.B. and Willis, F.J.P. (2005). Current developments in embedded value reporting. British Actuarial Journal, 11 (3), 407-479. http://dx.doi.org/10.1017/S1357321700003226

Oullier and Basso (2010). Embodied Economics: How Bodily Information Shapes the Social Coordination Dynamics of Decision-making (http://www.ncbi.nlm.nih.gov/pubmed/20026467) accessed date 18th June 2011.

Parrish, L. (2009). Time Line of Credit Cards. N.p.: Credit Card Flyers.com.

Polit, D.F. & Hungler, B.P. (2013). Research Methodology. USA: New York Harcourt Brace College Publishing House

Ragihurbir & Srivastava (2010) “The Denomination Effect,” Journal of Consumer Research, 36 (4), 701–13.

Reimann & Bechara (2012) The Somatic Marker Framework as a Neurological Theory of Decision-making: Review, Conceptual Comparisons, & Future Neuro-economics Research, Journal of Economic Psychology (2010) Volume: 31, Issue: 5.

Rendahl, S. (2015). Frame analysis: From interpersonal to Mass Communication. Paper Presented to Central State Communication Association, Indianapolis, Indiana. 164

Roberts, J.A. (1996). Green consumers in the 1990s: profile and implications for advertising. Journal of Business Research, 36 (3), 217-231. http://dx.doi.org/10.1016/0148-2963(95)00150-6

RPS. Retailer Payment Systems: Relative Merits of Cash and Payment Cards, Economists Inc., (Nov. 19, 2014).

See-San Juan, M., (2015). Sociological Inquiry into Credit Card Delinquency in the Philippines.

Semantria (2014). Retrieved July 29, 2014 from https://semantria.com/features/themes

Siddiqui, K., Ahmed, Anjum, M. (2013). Perceptions Towards Credit Card Usage: Factor Analytic Finding from Pakistan (September 1, 2013). International Journal of Economics Business and Management Studies. Vol. 2, No. 3. 128-135.
Soman, D. (2001). Effects of Payment Mechanism on Spending Behavior: The role of Rehearsal Immediacy of Payments. Journal of Consumer Research, 27, 460-471.

Soman, D. (2013). The Effect of Payment Transparency on Consumption: Quasi Experiments from the Field. Marketing Letters, 14 (3), 173-183.

Soman, D. and Cheema, A. (2002). The effect of credit on spending decisions: the role of the credit limit and credibility. Marketing Science, 21 (1), 32-53. http://dx.doi.org/10.1287/mksc.21.1.32.155

Soman, D. and Cheema, A. (2002). The effect of credit on spending decisions: the role of the credit limit and credibility. Marketing Science, 21 (1), 32-53. http://dx.doi.org/10.1287/mksc.21.1.32.155

Soman, D. and Cheema, A. (2002). The effect of credit on spending decisions: the role of the credit limit and credibility. Marketing Science, 21 (1), 32-53.

Spector, P. E. (1992). Summated Rating Scale Construction: An introduction, Newbury Park: Sage Publications.

Steele, Jason (2015). Credit.com What’s the Difference Between Visa and Master Card? EVERYDAY MONEY CREDIT CARDS.

Straub, D. W. (1989) "Validating Instruments in MIS Research," MIS Quarterly (13) 2, pp. 147-169

Streiner D. (2003). Starting at the beginning: an introduction to coefficient alpha and internal consistency. Journal of personality assessment. 80:99-103.

Sudhagar, S. (2012). A study on perception and awareness on credit cards among bank customers in India. IOSR Journal of Business and Management. 2278-487X V. 2(3). 14-23.

Tavakol M., & Dennick R. (2011). Making sense of Cronbach’s alpha. International Journal of Medical Education. 2011; 2:53-55 Retrieved June 12, 2014 from http://www.ijme.net/archive/2/cronbachs-alpha.pdf

Thaler R. H. (2012). Toward a Positive Theory of Consumer Choice, in P. E. Earl: Behavioral Economics.

Thaler, R. H. (2012). Mental Accounting & Consumer Choice. Marketing Science, 4, 199-214.

Tversky, A. & Kahneman, D. (2011) Judgment under Uncertainty: Heuristics & Biases Science, New Series, 185 (4157), 1124-1131

Wiggins, O. (2008). Calling on gospel to call off debt. Washington: Washington Post.
Published
2018-01-01
How to Cite
NAGARIT, Nenita B. et al. Transforming Online Negative Blogs in the Use of Credit Cards in Electronics Transactions into Constructive Action: Basis of Creating Business Spend Analyzer Model. Journal of Business & Management (COES&RJ-JBM), [S.l.], v. 6, p. 66-83, jan. 2018. ISSN 2306-7179. Available at: <http://centreofexcellence.net/index.php/JBM/article/view/jbm.2018.6.1.66.83>. Date accessed: 20 july 2019. doi: https://doi.org/10.25255/jbm.2018.6.1.66.83.
Section
Articles

Most read articles by the same author(s)