The inclusive credit card boom of the 1990s
Evolution of credit card possession and average debt levels for U.S. households by income quintile, 1989–2001. During this period, lower-income households opened credit card accounts in increasing numbers and multiplied their debt levels. Each gray curve represents twice as much aggregate debt as the one below it. All figures are adjusted for inflation to 2001 dollars.
Source: Appendix B of Draut & Silva (2003) based on data from the Survey of Consumer Finances