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Credit card pricing developments and their disclosure

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Author Info
Mark Furletti
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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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;

Cited by:
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  1. 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. [Downloadable!]
  2. Paul S. Calem & Michael B. Gordy & Loretta J. Mester, 2005. "Switching costs and adverse selection in the market for credit cards: new evidence," Working Papers 05-16, Federal Reserve Bank of Philadelphia. [Downloadable!]
    Other versions:
  3. Jonathan Zinman, 2005. "Debit or credit?," Conference Series ; [Proceedings], Federal Reserve Bank of Boston. [Downloadable!]
  4. 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. [Downloadable!]
  5. Andrew Kish, 2006. "Perspectives on recent trends in consumer debt," Payment Cards Center Discussion Paper 06-05, Federal Reserve Bank of Philadelphia. [Downloadable!]
  6. Kartik Athreya & Xuan S. Tam & Eric R. Young, 2008. "A quantitative theory of information and unsecured credit," Working Paper 08-06, Federal Reserve Bank of Richmond. [Downloadable!]
  7. 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. [Downloadable!]
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