Consumer Experiences with Credit Cards

This article examines consumers' behavior, experiences, and attitudes regarding credit cards in the aftermath of the Great Recession and the implementation of the Credit Card Accountability Responsibility and Disclosure Act of 2009. The data for the article are primarily from a nationwide consumer survey sponsored by the Federal Reserve that was conducted in February 2012. The article discusses economic conditions in the period leading up to the survey because recent events may greatly influence survey responses. Many survey questions were identical or similar to those in earlier consumer surveys, making it possible to track changes in consumer experiences with, and attitudes about, this important financial product.