Young Borrowers' Usage of Cosigned Credit Cards and Long Run Outcomes
Abstract: In the United States, access to credit is an important channel for smoothing consumption and building wealth. However, establishing and building a credit history can take time. Parents may be able to help their children build credit early and ensure good credit behavior, such as paying on time, by being a cosigner on a credit card.
Part of Series: FEDS Notes
Publication Date: 2022-07-14