Dépôt numérique

Credit Card Debt and the Provision of Financial Support to Kin in the US

Pugliese, Maude ORCID logoORCID: https://orcid.org/0000-0002-2248-7433; Le Bourdais, Céline et Clark, Shelley (2021). Credit Card Debt and the Provision of Financial Support to Kin in the US Journal of Family and Economic Issues , vol. 42 . pp. 616-632. DOI: 10.1007/s10834-020-09731-7.

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Credit card debt stands at over $1 trillion in the US and grows continuously. Scholars have argued that high (and growing) levels of credit card debt are attributable in part to rising economic vulnerabilities, combined with a thinning public safety net, credit cards being increasingly employed to make ends meet in this context. This paper extends this line of work by stressing that individuals and households do not rely on their credit cards only to mitigate their own financial hardships, but also those experienced by their non-coresidential kin members. More specifically, building on the notion that kin networks can constitute a source of negative social capital, we argue that individuals often accumulate credit card debt as they attempt to provide monetary assistance to their relatives in need. We also show that this effect is particularly strong in lower-income groups and in African American communities, in which need levels are especially high. Based on random and fixed effects analyses of data from the Panel Study of Income Dynamics, these insights extend scholarship on both kin networks of support and the sources of credit card debt.

Type de document: Article
Mots-clés libres: carte de crédit; dette; parent; parenté; réseau; vulnérabilité économique; États-Unis
Centre: Centre Urbanisation Culture Société
Date de dépôt: 15 mars 2022 17:38
Dernière modification: 15 mars 2022 17:38
URI: https://espace.inrs.ca/id/eprint/12251

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