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Consumer Experiences with Credit Cards

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Abstract

This article examines consumers' behavior, experiences, and attitudes regarding credit cards in the aftermath of the Great Recession and the implementation of the Credit Card Accountability Responsibility and Disclosure Act of 2009. The data for the article are primarily from a nationwide consumer survey sponsored by the Federal Reserve that was conducted in February 2012. The article discusses economic conditions in the period leading up to the survey because recent events may greatly influence survey responses. Many survey questions were identical or similar to those in earlier consumer surveys, making it possible to track changes in consumer experiences with, and attitudes about, this important financial product.

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  • Glenn B. Canner & Gregory E. Elliehausen, 2013. "Consumer Experiences with Credit Cards," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 99(5), December.
    • Handle: RePEc:fip:fedgrb:00001
    DOI: 10.17016/bulletin.2013.99-5
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    File URL: http://www.federalreserve.gov/pubs/bulletin/2013/pdf/consumer-experiences-with-credit-cards-201312.pdf
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    Cited by:

    1. Elliehausen, Gregory & Hannon, Simona M., 2018. "The Credit Card Act and consumer finance company lending," Journal of Financial Intermediation, Elsevier, vol. 34(C), pages 109-119.
    2. J. Paul Leavell, 2016. "Point redemption matters: A response to Murthi et al (2011)," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 21(4), pages 298-307, December.
    3. Gregory E. Elliehausen & Simona Hannon, 2017. "The Credit Card Act and Consumer Finance Company Lending," Finance and Economics Discussion Series 2017-072, Board of Governors of the Federal Reserve System (U.S.).
    4. Dotsey, Michael & Guerron-Quintana, Pablo A., 2016. "Interest rates and prices in an inventory model of money with credit," Journal of Monetary Economics, Elsevier, vol. 83(C), pages 71-89.
    5. Elif Incekara-Hafalir, 2015. "Credit Card Competition and Naive Hyperbolic Consumers," Journal of Financial Services Research, Springer;Western Finance Association, vol. 47(2), pages 153-175, April.
    6. Hannon, Simona, 2024. "Essays on consumer finance," Other publications TiSEM 4958b451-b30a-4957-9763-1, Tilburg University, School of Economics and Management.
    7. Gregory E. Elliehausen & Simona Hannon & Thomas W. Miller, Jr., 2021. "A New Look at the Effects of the Interest Rate Ceiling in Arkansas," Finance and Economics Discussion Series 2021-045r1, Board of Governors of the Federal Reserve System (U.S.), revised 05 May 2023.
    8. Jae Min Lee & Narang Park & Wookjae Heo, 2019. "Importance of Subjective Financial Knowledge and Perceived Credit Score in Payday Loan Use," IJFS, MDPI, vol. 7(3), pages 1-21, September.

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