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Meet the new borrowers

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Author Info
Sandra E. Black
Donald P. Morgan

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Abstract

Credit card lenders have been writing off loans at sharply higher rates since 1995, suggesting that riskier borrowers are acquiring credit cards. What makes the new borrowers riskier--even more than their personal characteristics and attitudes toward debt--is the fact that they carry higher debt burdens and work in occupations where income may be more cyclical.

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Publisher Info
Article provided by Federal Reserve Bank of New York in its journal Current Issues in Economics and Finance.

Volume (Year): (1999)
Issue (Month): Feb ()
Pages:
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Handle: RePEc:fip:fednci:y:1999:i:feb:n:v.5no.3

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Related research
Keywords: Credit cards ; Risk ; Bank loans;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Peter S. Yoo, 1997. "Charging up a mountain of debt: accounting for the growth of credit card debt," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 3-13. [Downloadable!]
  2. Elizabeth Laderman, 1996. "What's behind problem credit card loans?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue Jul 19. [Downloadable!]
  3. Arthur B. Kennickell & Martha Starr-McCluer & Annika E. Sunden, 1997. "Family finances in the U.S.: recent evidence from the Survey of Consumer Finances," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Jan, pages 1-24. [Downloadable!]
  4. Donald P. Morgan & Ian Toll, 1997. "Bad debt rising," Current Issues in Economics and Finance, Federal Reserve Bank of New York, issue Mar. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Astrid Dick & Andreas Lehnert, 2007. "Personal bankruptcy and credit market competition," Staff Reports 272, Federal Reserve Bank of New York. [Downloadable!]
  2. Jonathan Fisher & Angela Lyons, 2006. "Till Debt do us Part: A Model of Divorce and Personal Bankruptcy," Review of Economics of the Household, Springer, vol. 4(1), pages 35-52, 03. [Downloadable!] (restricted)
  3. Joanna Stavins, 2000. "Credit card borrowing, delinquency, and personal bankruptcy," New England Economic Review, Federal Reserve Bank of Boston, issue Jul, pages 15-30. [Downloadable!]
  4. Heather Boushey & Christian E. Weller, 2006. "Inequality and Household Economic Hardship in the United States of America," Working Papers 18, United Nations, Department of Economics and Social Affairs. [Downloadable!]
  5. Elizabeth Klee, 2006. "Families' use of payment instruments during a decade of change in the U.S. payment system," Finance and Economics Discussion Series 2006-01, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
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