Discussion Paper

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.

https://doi.org/10.17016/2380-7172.3165

Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: FEDS Notes

Publication Date: 2022-07-14

Number: 2022-07-14-1