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Changing Credit Profile of Consumers: Aging Versus the Business Cycle

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  • Taeyoung Doh

Abstract

The average consumer credit score reached a record high recently. While some commentators attributed this development to the cyclical rebound from the Great Recession, I find that the changing age distribution of credit applicants also played a significant role. Changes in demographics alone can explain 43 percent of the increase in the average score from 1999:Q1 to 2017:Q2.

Suggested Citation

  • Taeyoung Doh, 2017. "Changing Credit Profile of Consumers: Aging Versus the Business Cycle," Macro Bulletin, Federal Reserve Bank of Kansas City, pages 1-4, October.
  • Handle: RePEc:fip:fedkmb:00058
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