Using the 1995 Survey of Consumer Finances, payoff to consumers' search was estimated. A measure of potential savings was calculated based on the range of credit card interest rates. Increased search paid off for revolvers using both measures. Jinkook Lee, Associate Professor, Department of Housing and Consumer Economics, University of Georgia, Athens, GA 30602. The analysis and conclusions set forth are those of the authors and do not necessarily indicate concurrence of the Board of Governors, the Federal Reserve Banks, or members of their staff.
All errors remain the sole responsibility of the authors.