The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
From: Effects of balance transfer offers on consumer short-term finance: evidence from credit card data
Total payment | Total spending | ΔCCC Bal. | ΔEFX Bal. | ΔPB Bal. | ||||||
---|---|---|---|---|---|---|---|---|---|---|
Coef. | SE | Coef. | SE | Coef. | SE | Coef. | SE | Coef. | SE | |
PD = 6, fee > 0 | ||||||||||
FFL | 88.79 | 47.01* | 0.69 | 17.25 | −145.9 | 53.12*** | −130.28 | 187.19 | −15.03 | 15.17 |
PR | −45.53 | 25.52*** | −0.88 | 9.36 | 87.61 | 28.84*** | 60.29 | 101.64 | 3.55 | 8.24 |
PB balance | 0.2 | 0.02*** | 0.11 | 8.01e−3*** | −0.24 | 0.02*** | −0.08 | 0.08 | −0.2 | 7.12e−3*** |
Finance charge | −37.72 | 1.78*** | −1.66 | 0.65*** | 12.72 | 2.01*** | 3.04 | 7.08 | 4.62 | 0.57*** |
Fee | 64.13 | 2.35*** | −2.7 | 0.86*** | −51.44 | 2.66*** | −19.72 | 9.40*** | 0.09 | 0.76 |
Spending | 4.07 | 0.10*** | 3.12 | 0.03*** | 0.3 | 0.11*** | 1.52 | 0.41 | −0.35 | 0.03*** |
Payment | −0.23 | 0.04*** | 0.23 | 0.02 | 0.12 | 0.04*** | −0.32 | 0.16* | 0.27 | 0.01*** |
Cash spend | 3.62 | 0.47*** | −0.19 | 0.17 | 2.27 | 0.53*** | 8.53 | 1.89*** | −1.02 | 0.15*** |
CCC # | −698.67 | 85.71*** | −15.68 | 31.45 | −543.76 | 96.99*** | 1769.15 | 341.76*** | −100.7 | 27.71*** |
EFX # | 14.66 | 3.81*** | −7.93 | 1.40*** | −18.74 | 4.31*** | −52.19 | 15.18*** | −7.75 | 1.23*** |
EFX limit | 0.002 | 4.77e−4*** | −0.002 | 1.75e−4*** | 0.003 | 5.39e−4*** | 0.01 | 1.89e−3*** | −0.001 | 1.54e−4*** |
CCC limit | 0.31 | 6.91e−3*** | 0.02 | 2.54e−3*** | 0.1 | 7.83e−3*** | 0.16 | 0.03*** | 0.005 | 2.23e−3*** |
Behavior score | −0.62 | 0.19 | 0.12 | 0.07* | 0.69 | 0.22*** | −1.32 | 0.78* | 0.013 | 0.06 |
FICO score | −0.06 | 0.61*** | 0.23 | 0.22 | −7.45 | 0.68*** | −12.54 | 2.41*** | −0.58 | 0.19*** |
CCC U. ratio | 2820.6 | 89.62*** | −287.95 | 32.89*** | −6470.5 | 101.25*** | 261.16 | 356.79 | −491.34 | 28.93*** |
EFX U. ratio | 705.87 | 172.25*** | 24.97 | 63.21 | 3300.34 | 194.75*** | −12,203.6 | 686.23*** | 326.42 | 55.64*** |
Cons | −894.48 | 641.55 | 63.41 | 235.45 | 8430.6 | 724.61*** | 12,136.4 | 2553.26*** | 896.49 | 207.02*** |
PD = 12 | ||||||||||
FFL | 95.7 | 97.01 | −76 | 39.15* | −57.63 | 114.35 | 315.04 | 406.52 | −55.56 | 33.75 |
PR | −76.14 | 80.33 | 80.74 | 32.42*** | −26.8 | 94.68 | −327.62 | 336.58 | 57.03 | 27.94*** |
PB balance | 0.28 | 0.04*** | 0.06 | 0.01*** | −0.28 | 0.04*** | 0.03 | 0.15 | −0.28 | 0.01*** |
Finance charge | −36.53 | 2.89*** | −0.83 | 1.17 | 9.89 | 3.42*** | −25.67 | 12.15*** | 8.03 | 1.01*** |
Fee | 60.93 | 3.95*** | −1.58 | 1.59 | −61.55 | 4.66*** | −12.31 | 16.57 | 1.73 | 1.37 |
Spending | 4.1 | 0.14*** | 3.65 | 0.06*** | 0.13 | 0.16 | 1.85 | 0.60*** | −0.33 | 0.05*** |
Payment | −0.32 | 0.07*** | 0.23 | 0.03*** | 0.38 | 0.08*** | −0.49 | 0.28* | 0.3 | 0.02*** |
Cash spend | 3.31 | 0.81*** | 0.07 | 55.76 | 2.46 | 0.96*** | 0.44 | 3.43 | −0.02 | 0.28 |
CCC # | −887.05 | 138.17*** | −66.53 | 2.45 | −540.83 | 163.17*** | 1492.69 | 580.07*** | −6.83 | 48.15 |
EFX # | 12.72 | 6.07*** | −8.29 | 3.18e−4*** | −33.69 | 7.14*** | −20.41 | 25.40 | −9.02 | 2.11*** |
EFX limit | 0.003 | 7.89e−4*** | −0.001 | 4.4e−3*** | 0.006 | 9.29e−4*** | 1.58e−3 | 3.33e−3 | −0.001 | 2.74e−4*** |
CCC limit | 0.29 | 0.01*** | 0.01 | 0.12*** | 0.08 | 0.01*** | 0.07 | 0.04 | −0.009 | 3.8e−3*** |
Behavior score | −0.7 | 0.29*** | −0.09 | 0.39 | 0.22 | 0.34 | −3.86 | 1.23*** | −0.003 | 0.10 |
FICO score | −0.54 | 0.96 | 1.04 | 58.89*** | −5.59 | 1.14*** | −7.12 | 4.06* | 0.41 | 0.34 |
CCC U. ratio | 2703.43 | 145.92*** | −265.58 | −4.51*** | −6451.12 | 172.06*** | 793.52 | 611.69 | −553.7 | 50.78*** |
EFX U. ratio | 633.96 | 282.43*** | 153.82 | 113.99 | 3950.92 | 333.01*** | −10,809.1 | 1183.84*** | 443.67 | 98.28*** |
Cons | −278.12 | 925.53 | 8.56 | 373.54 | 7007.85 | 1091.57*** | 7998.88 | 3880.50*** | 333.21 | 322.16 |
PD = 6, fee = 0 | ||||||||||
FFL | 64.47 | 48.86 | 7.5 | 19.01 | −101.83 | 54.32* | 124.68 | 189.93 | −21.63 | 15.08 |
PR | −140.44 | 36.20*** | 4.91 | 14.09 | 22.05 | 40.25 | −182.03 | 140.73 | 12.64 | 11.17 |
PB balance | 0.16 | 0.03*** | 0.07 | 0.01*** | −0.27 | 0.03*** | −0.05 | 0.11 | −0.21 | 8.89e−3*** |
Finance charge | −38.44 | 2.27*** | 0.26 | 0.88 | 18.64 | 2.52*** | 18.45 | 8.83*** | 4.93 | 0.70*** |
Fee | 61.9 | 3.08*** | −1.47 | 1.19 | −55.71 | 3.42*** | −0.23 | 11.98 | 1.1 | 0.95 |
Spending | 4.27 | 0.12*** | 3.49 | 0.04*** | −0.32 | 0.13*** | 0.91 | 0.48* | −0.25 | 0.03*** |
Payment | −0.1 | 0.05* | 0.21 | 0.02*** | 0.38 | 0.06*** | −0.1 | 0.21 | 0.24 | 0.02*** |
Cash spend | 1.58 | 0.45*** | 0.04 | 0.17 | 2.47 | 0.50*** | 2.78 | 1.76 | −0.26 | 0.14* |
CCC # | −797.83 | 109.85*** | −40.62 | 42.76 | −219.16 | 122.47* | 1709.87 | 428.22*** | −43.61 | 34.01 |
EFX # | 12.72 | 4.82*** | −8.29 | 1.87*** | −33.69 | 5.35*** | −20.41 | 18.73 | −9 | 1.48*** |
EFX limit | 10.16 | 6.21e−4*** | −7.83 | 2.42e−4*** | −32.94 | 6.91e−4*** | −41.99 | 2.41e−3*** | −4.35 | 1.92e−4*** |
CCC limit | 0.31 | 8.88e−3*** | 0.01 | 3.46e−3*** | 0.07 | 9.88e−3*** | 0.04 | 0.03 | 0.001 | 2.74e−3 |
Behavior score | −0.85 | 0.25*** | −0.08 | 0.10 | 0.71 | 0.27*** | −1.45 | 0.96 | −0.06 | 0.08 |
FICO score | 0.62 | 0.77 | 0.97 | 0.30*** | −6.8 | 0.85*** | −8.42 | 3.00*** | −0.15 | 0.24 |
CCC U. ratio | 2715.78 | 113.86*** | −236.64 | 44.32*** | −6662.5 | 126.61*** | −604.9 | 442.70 | 430.19 | 35.15*** |
EFX U. ratio | 1191.27 | 224.55*** | 147.73 | 87.41* | 3658.87 | 249.80*** | −11,667.4 | 873.40*** | 409.52 | 69.36*** |
Cons | −891.97 | 685.38 | −390.55 | 266.80 | 7433.67 | 762.64*** | 9412.06 | 2666.51*** | 530.25 | 211.76*** |