Briefing
How Risky Are Young Borrowers?
Abstract: Young borrowers are conventionally considered the most prone to making financial mistakes. This has spurred efforts to limit their access to credit, particularly via credit cards. Recent research suggests, however, that young borrowers are actually among the least likely to experience a serious credit card default. One reason why people obtain credit cards early in life may be to build a strong credit history.
Keywords: Access to Credit; Consumer Finance; Credit Cards; Financial Markets; Financial Regulation;
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Bibliographic Information
Provider: Federal Reserve Bank of Richmond
Part of Series: Richmond Fed Economic Brief
Publication Date: 2013
Issue: Dec