Credit Crisis Rate Caps

Credit availability has seen massive changes over the last 60 years, evolving from a system primarily managed by local banks to a vast, complex market characterized by widespread consumer access, securitization of debt, and sophisticated data analysis (credit scores).
Key Shifts in Credit Availabilit. In the 1960s, consumer credit was a smaller part of American finance.
By the end of the 1990s, the majority of American households used some form of revolving credit, like credit cards. This shift was driven by technological innovations and a cultural change that normalized "buy now, pay later".
More recently, buy Now, Pay Later (BNPL) services like Affirm, Klarna, and Afterpay command a significant slice, with around 15-30% of U.S. adults using them in 2024-2025.
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