Journal Article

Changing Credit Profile of Consumers: Aging Versus the Business Cycle


Abstract: The average consumer credit score reached a record high recently. While some commentators attributed this development to the cyclical rebound from the Great Recession, I find that the changing age distribution of credit applicants also played a significant role. Changes in demographics alone can explain 43 percent of the increase in the average score from 1999:Q1 to 2017:Q2.

Keywords: Recession; Consumers; Credit scores; Business cycles;

Access Documents

Authors

Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Macro Bulletin

Publication Date: 2017-10-18

Pages: 1-4