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The Effects of the COVID-19 Shutdown on the Consumer Credit Card Market: Revolvers versus Transactors

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Abstract

The consumer credit card market has experienced dramatic, unprecedented changes in the wake of the COVID-19 shutdown of the U.S. economy. Revolving credit in the G.19 Consumer Credit statistical release fell by an annualized rate of 32 percent in the second quarter of 2020.

Suggested Citation

  • Robert M. Adams & Vitaly M. Bord, 2020. "The Effects of the COVID-19 Shutdown on the Consumer Credit Card Market: Revolvers versus Transactors," FEDS Notes 2020-10-21-1, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2020-10-21-1
    DOI: 10.17016/2380-7172.2792
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    File URL: https://www.federalreserve.gov//econres/notes/feds-notes/the-effects-of-the-covid-19-shutdown-on-the-consumer-credit-card-market-revolvers-versus-transactors-20201021.htm
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    Cited by:

    1. Berger, Allen N. & Demirgüç-Kunt, Asli, 2021. "Banking research in the time of COVID-19," Journal of Financial Stability, Elsevier, vol. 57(C).
    2. Selena T. Garrison & Shelli D. Rampold & Katherine Vasquez & Martie Gillen & Lauri M. Baker, 2022. "Parents' employment, income, and finances before and during the COVID‐19 pandemic," Journal of Consumer Affairs, Wiley Blackwell, vol. 56(1), pages 276-291, March.
    3. Albuquerque, Bruno & Varadi, Alexandra, 2022. "Consumption effects of mortgage payment," Bank of England working papers 963, Bank of England.
    4. Akos Horvath & Benjamin S. Kay & Carlo Wix, 2021. "The COVID-19 Shock and Consumer Credit: Evidence from Credit Card Data," Finance and Economics Discussion Series 2021-008, Board of Governors of the Federal Reserve System (U.S.).

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