Another look at credit card pricing and its disclosure: Is the semi-annual pricing data reported by credit card issuers to the Fed helpful to consumers or researchers?
AbstractCredit Card Pricing Developments and Their Disclosure,” a January 2003 Payment Cards Center Discussion Paper, examined the history and dynamics of credit card pricing and how such pricing is described to consumers in Truth in Lending solicitation disclosures. In this paper, we examine credit card pricing as revealed to consumers in a different context: that of a semiannual shopping guide that the Board of Governors publishes pursuant to the Truth in Lending Act. Specifically, we ask two questions: Are the data on credit card pricing in the guide useful to consumers? Are the data collected for the guide (commonly known as Terms of Credit Card Plan [TCCP] data) of value to researchers? With respect to both of these questions, we find that the data are becoming less useful.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Philadelphia in its series Payment Cards Center Discussion Paper with number 06-08.
Date of creation: 2006
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-04-14 (All new papers)
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.:
- Julia S. Cheney, 2005. "Prepaid card models: a study in diversity," Payment Cards Center Discussion Paper 05-03, Federal Reserve Bank of Philadelphia.
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