Meet the new borrowers
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.
Volume (Year): 5 (1999)
Issue (Month): Feb ()
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References listed on IDEAS
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- 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.
- Elizabeth Laderman, 1996. "What's behind problem credit card loans?," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue jul19.
- 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.
- Donald P. Morgan & Ian Toll, 1997. "Bad debt rising," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 3(Mar).