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Men tend to have higher credit limits than female borrowers

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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.

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Source cnbc.com

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