CFED Scorecard

CFED Assets & Opportunity Scorecard

Financial Assets & Income
Access to Revolving Credit
Definition

Percentage of credit users with a credit card or a home equity line of credit, Quarter 4, 2014. Credit users are defined as adults over the age of 18 with a credit file and a credit score with Equifax.

Description

Credit is a necessity in today’s economy. However, not all consumers have timely access to credit. Revolving credit, or products such as credit cards or home equity lines of credit, provide flexible options for consumers to access credit and borrow money when they need it, given that they have not exceeded their credit limit.

In the absence of revolving credit, households may resort to using high-interest or predatory loans and other alternative credit products that effectively inhibit their ability to save, and do little to help them build the safe credit history required to purchase a car, rent a home or start a small business.

For more information and data on credit behavior and the credit economy, including data at the county level, see the Federal Reserve Bank of New York’s interactive data tool, Community Credit: A New Perspective on America's Communities.

67.9% of United States credit users have access to a revolving line of credit

Access to Revolving Credit, Quarter 4, 2014

StatePercent of Credit Users with
Open Line of Revolving Credit (%)
Rank
United States 67.9%
Alabama 55.8% 50
Alaska 77.6% 1
Arizona 67.8% 33
Arkansas 56.7% 47
California 71.3% 22
Colorado 75.1% 7
Connecticut 72.8% 12
Delaware 69.6% 26
District of Columbia 72.4% 14
Florida 69.0% 29
Georgia 60.9% 42
Hawaii 74.7% 9
Idaho 69.6% 26
Illinois 68.2% 32
Indiana 63.3% 39
Iowa 69.8% 25
Kansas 66.6% 34
Kentucky 59.2% 44
Louisiana 56.1% 48
Maine 68.7% 30
Maryland 72.3% 15
Massachusetts 75.2% 5
Michigan 64.4% 38
Minnesota 75.9% 2
Mississippi 49.3% 51
Missouri 64.6% 37
Montana 71.6% 19
Nebraska 71.9% 16
Nevada 68.6% 31
New Hampshire 73.3% 10
New Jersey 75.6% 3
New Mexico 61.2% 41
New York 74.9% 8
North Carolina 66.6% 34
North Dakota 75.3% 4
Ohio 66.6% 34
Oklahoma 56.1% 48
Oregon 70.8% 23
Pennsylvania 69.6% 26
Rhode Island 71.9% 16
South Carolina 59.5% 43
South Dakota 72.7% 13
Tennessee 58.3% 45
Texas 61.9% 40
Utah 75.2% 5
Vermont 71.4% 21
Virginia 71.6% 19
Washington 73.2% 11
West Virginia 57.6% 46
Wisconsin 71.9% 16
Wyoming 70.7% 24

Change in Access to Revolving Credit

Change in Access to Revolving Credit (%)
StateQ4 2005Q4 2006Q4 2007Q4 2008Q4 2009Q4 2010Q4 2011Q4 2012Q4 2013Q4 2014
United States 72.8% 73.0% 74.0% 73.2% 68.3% 67.6% 67.4% 67.6% 67.2% 67.9%
Alabama 64.4% 64.1% 65.5% 63.6% 57.0% 57.0% 55.7% 55.7% 55.2% 55.8%
Alaska 78.1% 79.1% 79.7% 78.7% 76.2% 75.9% 76.1% 76.8% 77.1% 77.6%
Arizona 72.9% 74.2% 75.1% 74.6% 69.2% 67.8% 67.0% 67.0% 67.0% 67.8%
Arkansas 65.7% 65.1% 67.2% 65.0% 57.7% 57.3% 56.3% 56.9% 56.2% 56.7%
California 73.9% 74.9% 75.3% 75.6% 71.1% 70.2% 70.2% 70.3% 70.4% 71.3%
Colorado 77.7% 78.0% 79.1% 78.3% 74.7% 74.1% 73.8% 74.1% 74.1% 75.1%
Connecticut 75.3% 75.0% 76.0% 76.1% 73.3% 73.0% 73.0% 73.0% 72.4% 72.8%
Delaware 73.5% 73.9% 74.6% 73.5% 68.0% 67.9% 68.9% 69.0% 66.8% 69.6%
District of Columbia 71.1% 73.9% 73.7% 72.7% 69.7% 69.9% 70.1% 71.1% 71.1% 72.4%
Florida 73.4% 74.0% 74.5% 74.1% 68.4% 67.6% 67.1% 67.5% 67.8% 69.0%
Georgia 66.8% 67.1% 67.6% 66.0% 60.3% 59.7% 59.0% 59.7% 59.7% 60.9%
Hawaii 77.6% 76.4% 78.3% 77.7% 74.6% 74.7% 75.5% 75.6% 74.3% 74.7%
Idaho 74.1% 74.7% 75.9% 74.9% 70.8% 70.0% 69.5% 69.6% 69.0% 69.6%
Illinois 72.8% 73.3% 75.5% 74.6% 69.9% 68.8% 68.6% 69.6% 67.7% 68.2%
Indiana 70.0% 70.4% 71.8% 70.6% 64.9% 64.3% 64.0% 63.9% 63.1% 63.3%
Iowa 75.3% 74.8% 76.5% 75.4% 71.3% 70.8% 70.7% 70.0% 69.2% 69.8%
Kansas 72.9% 72.2% 73.6% 72.4% 67.4% 66.6% 66.8% 66.8% 66.0% 66.6%
Kentucky 65.6% 66.7% 68.1% 66.7% 60.2% 59.8% 59.3% 59.5% 58.6% 59.2%
Louisiana 62.5% 62.1% 64.5% 62.8% 56.6% 56.2% 55.4% 55.8% 55.1% 56.1%
Maine 75.8% 74.9% 75.7% 75.6% 70.6% 69.8% 69.5% 69.8% 68.6% 68.7%
Maryland 75.0% 76.7% 77.0% 76.1% 72.0% 71.6% 71.5% 71.9% 71.4% 72.3%
Massachusetts 79.5% 79.1% 79.9% 79.4% 75.7% 75.4% 75.7% 75.8% % 75.2%
Michigan 74.2% 74.1% 73.9% 72.5% 67.2% 66.1% 65.2% 65.2% 64.2% 64.4%
Minnesota 79.6% 79.5% 80.9% 79.9% 76.4% 75.8% 75.7% 75.6% 75.4% 75.9%
Mississippi 60.3% 60.1% 62.5% 59.9% 52.4% 51.0% 49.3% 49.3% 48.6% 49.3%
Missouri 72.4% 72.1% 73.1% 71.6% 66.1% 65.3% 64.7% 64.8% 64.0% 64.6%
Montana 75.8% 76.0% 77.1% 76.1% 71.7% 71.1% 71.4% 71.8% 70.9% 71.6%
Nebraska 76.7% 76.3% 77.7% 76.7% 72.8% 72.1% 72.2% 72.0% 71.5% 71.9%
Nevada 73.7% 74.8% 75.4% 74.4% 68.8% 67.2% 66.2% 66.7% 67.2% 68.6%
New Hampshire 78.3% 77.7% 78.6% 78.5% 74.2% 73.4% 73.4% 73.8% 72.5% 73.3%
New Jersey 78.4% 78.7% 79.7% 79.1% 75.4% 74.8% 75.5% 75.9% 75.3% 75.6%
New Mexico 68.5% 68.1% 68.7% 67.7% 62.3% 61.8% 60.9% 61.0% 60.4% 61.2%
New York 77.7% 77.8% 78.7% 78.1% 74.6% 74.3% 74.8% 75.2% 74.8% 74.9%
North Carolina 71.9% 72.3% 72.3% 71.7% 66.2% 66.3% 65.7% 66.1% 65.9% 66.6%
North Dakota 78.6% 78.8% 80.3% 79.0% 75.2% 74.5% 75.2% 75.1% 74.6% 75.3%
Ohio 72.4% 73.2% 74.6% 73.3% 68.1% 67.5% 67.2% 67.2% 66.2% 66.6%
Oklahoma 64.9% 64.7% 65.9% 64.6% 57.7% 56.9% 56.1% 56.2% 55.5% 56.1%
Oregon 74.2% 74.5% 75.7% 75.2% 71.5% 70.8% 70.6% 70.5% 70.2% 70.8%
Pennsylvania 74.6% 73.8% 75.1% 74.5% 69.0% 68.9% 69.3% 69.8% 69.1% 69.6%
Rhode Island 78.0% 77.4% 78.3% 77.1% 72.3% 71.9% 72.1% 72.3% 71.6% 71.9%
South Carolina 67.1% 67.2% 67.2% 66.2% 60.3% 59.7% 58.7% 59.3% 59.2% 59.5%
South Dakota 77.2% 76.9% 78.0% 76.8% 73.1% 72.8% 73.2% 73.0% 72.4% 72.7%
Tennessee 65.7% 65.4% 66.8% 65.2% 58.4% 57.7% 57.3% 57.8% 57.5% 58.3%
Texas 67.7% 67.5% 68.2% 67.4% 61.7% 60.8% 60.0% 60.8% 60.8% 61.9%
Utah 74.4% 75.1% 77.1% 77.6% 75.1% 74.4% 73.9% 74.5% 74.6% 75.2%
Vermont 76.1% 74.9% 76.0% 75.6% 71.8% 71.0% 71.0% 71.5% 70.9% 71.4%
Virginia 74.3% 75.3% 75.8% 75.4% 71.0% 70.5% 70.4% 71.0% 70.7% 71.6%
Washington 75.6% 76.2% 77.1% 76.8% 73.3% 72.7% 72.8% 73.1% 72.6% 73.2%
West Virginia 66.4% 67.5% 68.7% 66.5% 60.1% 59.7% 58.9% 58.9% 57.8% 57.6%
Wisconsin 76.9% 76.8% 79.1% 78.2% 74.5% 73.2% 73.0% 72.4% 71.6% 71.9%
Wyoming 75.9% 75.6% 76.5% 75.8% 72.1% 71.3% 71.1% 70.9% 70.2% 70.7%

Definition

Percentage of credit users with a credit card or a home equity line of credit, Quarter 4, 2014. Credit users are defined as adults over the age of 18 with a credit file and a credit score with Equifax.

Source

Community Credit: A New Perspective on America’s CommunitiesSource: The New York Fed Consumer Credit Panel/Equifax. New York: Federal Reserve Bank of New York, 2015.

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