消费者信用卡市场报告致国会

Report to Congress Table of contents Table of contents.........................................................................................................2 Executive summary.....................................................................................................4 1.1Report mandate ........................................................................................ 71.2Data sources............................................................................................ 101.3Data limitations ...................................................................................... 121.4Inflation adjustments ............................................................................. 131.5Definitions .............................................................................................. 14 2.Use of credit ........................................................................................................18 2.1Cardholders ............................................................................................ 182.2Purchase volume..................................................................................... 232.3Credit card balances ............................................................................... 33 3.Cost of credit.......................................................................................................38 3.1Total cost of credit ..................................................................................383.2Interest....................................................................................................403.3Fees .........................................................................................................60 4.Payments, debt, and collections .......................................................................67 4.1Payments ................................................................................................ 674.2Non-payment.......................................................................................... 784.3Debt collection........................................................................................80 5.Market dynamics.................................................................................................98 5.1Issuer segmentation ...............................................................................985.2Credit union issuers.............................................................................. 1005.3Bank issuers.......................................................................................... 103 6.Availability of credit..........................................................................................107 6.1New accounts........................................................................................ 1076.2Credit lines.............................................................................................127 7.Practices of credit card issuers.......................................................................138 7.1Rewards ................................................................................................ 1387.2Installment plans...................................................................................1477.3Deferred interest.................................................................................... 1517.4Balance transfers ...................................................................................1617.5Cash advances....................................................................................... 1637.6Account servicing.................................................................................. 165 8.Innovation .........................................................................................................177 8.1Innovation reflecting digital engagement .............................................1778.2Competitive products and innovation.................................................. 187 Appendix A:Supporting figures .........................................................................191 Executive summary This report represents the Consumer Financial Protection Bureau’s (CFPB’s or Bureau’s)seventh biennial review of the consumer credit card market as directed by the Credit CardAccountability Responsibility and Disclosure Act (CARD Act) of 2009.1Credit cards areinstrumental to the financial lives of 208 million American consumers. For many people theyare a convenient way to make everyday purchases, to manage expenses with flexible paymentterms, to help build credit history, and to help smooth income and expense shocks. In this report, we review how consumers use credit cards, practices of credit card issuers, andhow the credit card market is changing. We revisit topics covered in earlier reports, such asdeferred interest and innovations in the marketplace, while introducing new areas of focus thisyear. We analyze how cardholders spend by merc