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Article Abstract  

Credit Cards and the Poor


  Author: Edward J. Bird, Paul A. Hagstrom, Robert Wild
Publisher: Institute for Research on Poverty
Publication:
Document Date:                  October 01, 1997
Category: Family Economics > Household Management
Related Categories:
Family Economics > Economic Hardship
Family Economics > Family Income
Family Economics > Poverty
Public Policy > Welfare
 

This paper discusses the increasingly frequent use of credit cards by poor families and finds that credit card use and debt have increased dramatically among the poor.  It suggests that this easy access to credit may be softening the impact of welfare reform, and seeks to understand why the credit card market has been expanded to include economically disadvantaged families.

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