Interest rate competition and risk-based pricing have created wide price dispersions in credit card interest rates. In this environment, searching for price information on credit cards is critical for many consumers, especially revolvers. 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. The relationship between consumers? search and payoffs measured as annual percentage rate (APR) and dollar savings in interest payments was examined. Increased search paid off for revolvers using both measures. Key Words: credit cards, decision making, information search, survey of consumer finances

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