CFPB report on U.S. credit card market

The Bureau has blogged about a recent data point report that explores patterns of revolving and repayment of credit card accounts in the United States. The report offers insights on how consumers use their credit cards as a line of credit rather as a payment mechanism, a topic which has not been the subject of extensive prior research. Main findings include:

• Two thirds of actively used credit card accounts carry a revolving balance
• Accounts show variation in repayment patterns
• There is a substantial geographic variation in revolving rates and the duration of sustained debt periods