There are substantial differences in the credit card offers that banks extend to different potential customers. Less-sophisticated borrowers receive offers with more back-loaded and hidden features, as well as more upfront rewards, visual distractions, and fine print at the end of the offer letter, according to Hong Ru and Antoinette Schoar in their new study, Do Credit Card Companies Screen for Behavioral Biases? (NBER Working Paper No. 22360). Banks also ratchet up these hidden features when their cost of funding increases, and when the credit risk of consumers is lower, which reduces the risk for the banks that customers default once they are hit with the unexpected charges. Hidden fees go up when state unemployment insurance benefits become more generous.
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机译：银行提供给不同潜在客户的信用卡优惠有很大的不同。洪如和Antoinette Schoar在他们的新研究《 Do Credit》中表示，较不老练的借款人在报价书末尾收到的报价具有更多的后加载和隐藏功能，以及更多的前期奖励，视觉干扰和精美的印刷品。卡公司的行为偏见筛查？ （NBER工作文件第22360号）。当资金成本增加，消费者的信用风险降低时，银行还会增加这些隐藏的功能，从而降低了银行一旦客户遭受意外费用打击而违约的风险。当州失业保险金变得更加慷慨时，隐性费用就会上升。
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