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Meet the New Borrowers, Volume 5, Issue 3

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Meet the New Borrowers, Volume 5, Issue 3

DATE: February 1999

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ABSTRACT: 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.

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Federal Reserve Bank of New York. Research and Statistics Group. "Meet the New Borrowers, Volume 5, Issue 3," Current Issues in Economics and Finance (February 1999). https://fraser.stlouisfed.org/title/6879/item/627902, accessed on March 28, 2023.

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