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Credit card pricing developments and their disclosure

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  • Mark Furletti
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    Abstract

    Public data, proprietary issuer data, and data collected by the author from a review of over 150 lender-borrower contracts from 15 of the largest issuers in the U.S. suggest that, over the past 10 years, credit card issuers have drastically changed the way that they price their product. This paper outlines the history and dynamics of credit card pricing over the past 10 years and examines how new pricing methods are addressed by current regulatory disclosure requirements.

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    File URL: http://www.phil.frb.org/pcc/papers/2003/CreditCardPricing_012003.pdf
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    Bibliographic Info

    Paper provided by Federal Reserve Bank of Philadelphia in its series Payment Cards Center Discussion Paper with number 03-02.

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    Date of creation: 2003
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    Handle: RePEc:fip:fedpdp:03-02

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    Related research

    Keywords: Credit cards;

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    Cited by:
    1. Kartik B. Athreya & Hubert P. Janicki, 2006. "Credit exclusion in quantitative models of bankruptcy: does it matter?," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 17-49.
    2. Kartik Athreya & Xuan S. Tam & Eric R. Young, 2011. "A quantitative theory of information and unsecured credit," Working Paper 08-06, Federal Reserve Bank of Richmond.
    3. Athreya, Kartik B., 2008. "Default, insurance, and debt over the life-cycle," Journal of Monetary Economics, Elsevier, vol. 55(4), pages 752-774, May.
    4. Calem, Paul S. & Gordy, Michael B. & Mester, Loretta J., 2006. "Switching costs and adverse selection in the market for credit cards: New evidence," Journal of Banking & Finance, Elsevier, vol. 30(6), pages 1653-1685, June.
    5. Viktar Fedaseyeu, 2012. "Debt Collection Agencies and the Supply of Consumer Credit," Working Papers 442, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
    6. Zinman, Jonathan, 2009. "Debit or credit?," Journal of Banking & Finance, Elsevier, vol. 33(2), pages 358-366, February.
    7. Massoud, Nadia & Saunders, Anthony & Scholnick, Barry, 2011. "The cost of being late? The case of credit card penalty fees," Journal of Financial Stability, Elsevier, vol. 7(2), pages 49-59, June.
    8. Kartik B. Athreya & Andrea L. Waddle, 2007. "Implications of some alternatives to capital income taxation," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 31-55.
    9. Athreya, Kartik & Tam, Xuan S. & Young, Eric R., 2009. "Unsecured credit markets are not insurance markets," Journal of Monetary Economics, Elsevier, vol. 56(1), pages 83-103, January.
    10. Andrew Kish, 2006. "Perspectives on recent trends in consumer debt," Payment Cards Center Discussion Paper 06-05, Federal Reserve Bank of Philadelphia.
    11. Jonathan Zinman, 2004. "Why use debit instead of credit? Consumer choice in a trillion-dollar market," Staff Reports 191, Federal Reserve Bank of New York.

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