Real Estate

Men tend to have higher credit limits than female borrowers


skynesher | E+ | Getty Images

It’s no secret that there is a gender pay gap in the U.S.

Women earned just 84% of what men made in 2020, according to the Pew Research Center. Consequently, it would take female workers an extra 42 days to make the same income men did that year.

Now, research from the Federal Reserve Bank of Philadelphia points to another potential gap between genders with regard to total bank card borrowing limits.

An “unexplained gender difference in bankcard limits” of about $1,323 exists, with male borrowers having higher limits, the research found. That was after controlling for credit score, income and demographic characteristics.

More from Personal Finance:
Buying a home…


0 0 votes
Article Rating

Rivian pre-order customers made over $240 million in profit on IPO pop

Previous article

Berkshire Hathaway BRK earnings Q3 2021

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Real Estate