Another Look at Credit Card Pricing and Its Disclosure: Is the Semi-Annual Pricing Data Reported by Credit Card Issuers to the Fed Helpful to Consumers or Researchers?

Mark J. Furletti, Christopher J Ody

Research output: Working paperDiscussion paper

Abstract

Credit Card Pricing Developments and Their Disclosure, a January 2003 Payment Cards Center Discussion Paper, examined the history and dynamics of credit card pricing and how such pricing is described to consumers in Truth in Lending solicitation disclosures. In a new paper, co-authors Mark Furletti and Christopher Ody examine credit card pricing as revealed to consumers in a different context: a semiannual shopping guide that the Board of Governors publishes pursuant to the Truth in Lending Act. Specifically, the authors ask two questions: Are the data on credit card pricing in the guide useful to consumers? Are the data collected for the guide (commonly known as Terms of Credit Card Plan [TCCP] data) of value to researchers? With respect to both of these questions, the authors find that the data are becoming less useful.
Original languageEnglish (US)
PublisherSocial Science Research Network (SSRN)
Number of pages44
StatePublished - Jul 2006

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Disclosure
Pricing
Credit cards
Lending
Payment card
Shopping

Cite this

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title = "Another Look at Credit Card Pricing and Its Disclosure: Is the Semi-Annual Pricing Data Reported by Credit Card Issuers to the Fed Helpful to Consumers or Researchers?",
abstract = "Credit Card Pricing Developments and Their Disclosure, a January 2003 Payment Cards Center Discussion Paper, examined the history and dynamics of credit card pricing and how such pricing is described to consumers in Truth in Lending solicitation disclosures. In a new paper, co-authors Mark Furletti and Christopher Ody examine credit card pricing as revealed to consumers in a different context: a semiannual shopping guide that the Board of Governors publishes pursuant to the Truth in Lending Act. Specifically, the authors ask two questions: Are the data on credit card pricing in the guide useful to consumers? Are the data collected for the guide (commonly known as Terms of Credit Card Plan [TCCP] data) of value to researchers? With respect to both of these questions, the authors find that the data are becoming less useful.",
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