Table 6 Result of the main models for “fully paid” borrowers

Intercept

 − 0.128^†

(0.069)

0.088

(0.055)

0.106

(0.210)

0.058

(0.124)

0.029

(0.041)

 − 0.041

(0.058)

0.049

(0.190)

0.092

(0.268)

0.044

(0.202)

Loan

 − 48.188**

(5.834)

 − 41.402**

(5.073)

 − 35.188^†

(21.132)

 − 26.782*

(11.017)

 − 43.548**

(3.804)

 − 33.559**

(6.083)

 − 47.409*

(18.823)

 − 38.393

(23.516)

 − 33.996^†

(19.484)

Loan²

1352.214**

(120.367)

1377.359**

(101.545)

1224.617**

(431.974)

993.159**

(240.924)

1356.752**

(75.014)

1051.521**

(135.141)

1494.990**

(410.588)

1276.214*

(504.738)

1082.683*

(432.668)

Income

9.518**

(1.394)

4.885**

(1.118)

4.468

(4.553)

3.935

(2.515)

7.476**

(0.830)

7.720**

(1.201)

5.658

(4.577)

4.820

(5.799)

4.586

(4.473)

Income²

 − 46.388**

(6.105)

 − 21.748**

(4.024)

 − 22.077

(17.547)

 − 21.149*

(9.915)

 − 32.107**

(3.23)

 − 35.506**

(4.613)

 − 22.270

(18.444)

 − 21.313

(22.402)

 − 21.923

(17.670)

DTI

 − 2.121**

(0.102)

 − 3.052**

(0.066)

 − 3.129**

(0.293)

 − 2.882**

(0.202)

 − 2.787**

(0.057)

 − 2.49**

(0.072)

 − 3.101**

(0.298)

 − 3.133**

(0.369)

 − 3.029**

(0.320)

Rev balance

6.682**

(0.972)

8.367**

(0.681)

7.375*

(2.924)

7.280**

(1.574)

10.475**

(0.506)

9.544**

(0.750)

8.506**

(2.924)

8.434*

(3.732)

8.961**

(3.060)

Rev util

 − 0.193**

(0.039)

0.100**

(0.031)

0.115

(0.129)

0.086

(0.067)

 − 0.027

(0.019)

 − 0.077*

(0.032)

0.070

(0.116)

0.078

(0.154)

0.050

(0.132)

Tot balance

 − 5.337**

(0.740)

 − 7.226**

(0.589)

 − 7.461**

(2.323)

 − 7.507**

(1.489)

 − 6.033**

(0.435)

 − 5.958**

(0.723)

 − 7.761**

(2.550)

 − 7.875**

(2.940)

 − 7.907**

(2.198)

Tot balance²

1.288

(0.800)

 − 0.447

(0.572)

0.086

(2.261)

0.461

(1.604)

0.265

(0.426)

1.047

(0.773)

 − 0.642

(2.709)

 − 0.553

(3.025)

 − 0.442

(2.568)

Cred limit

5.141**

(0.572)

6.858**

(0.420)

6.966**

(1.788)

6.975**

(1.137)

5.296**

(0.301)

5.146**

(0.505)

7.224**

(1.699)

7.375**

(2.285)

7.575**

(1.589)

Loan per Income

 − 0.720**

(0.211)

 − 1.142**

(0.175)

 − 1.288^†

(0.669)

 − 1.322**

(0.351)

 − 1.124**

(0.131)

 − 1.143**

(0.186)

 − 1.007^†

(0.601)

 − 1.184

(0.793)

 − 1.143^†

(0.610)

Tot balance per Income

 − 0.008

(0.016)

0.020†

(0.010)

0.021

(0.046)

0.019

(0.025)

0.027**

(0.007)

0.021

(0.013)

0.038

(0.043)

0.034

(0.051)

0.025

(0.041)

Job

 ≥ 10 years

0.032*

(0.015)

0.004

(0.010)

 − 0.001

(0.041)

0.005

(0.026)

 − 0.002

(0.007)

0.008

(0.011)

0.003

(0.045)

 − 0.006

(0.046)

0.007

(0.042)

Home

 Own

 − 0.026

(0.027)

 − 0.121**

(0.019)

 − 0.102

(0.078)

 − 0.114*

(0.047)

 − 0.160**

(0.012)

 − 0.150**

(0.020)

 − 0.097

(0.070)

 − 0.124

(0.096)

 − 0.124

(0.076)

 Rent

 − 0.213**

(0.020)

 − 0.300**

(0.014)

 − 0.284**

(0.060)

 − 0.257**

(0.037)

 − 0.303**

(0.009)

 − 0.255**

(0.017)

 − 0.284**

(0.055)

 − 0.301**

(0.071)

 − 0.267**

(0.055)

Purpose

 Debt consolidation

0.037^†

(0.020)

0.003

(0.014)

0.024

(0.064)

0.013

(0.035)

0.016†

(0.009)

0.016

(0.017)

0.026

(0.057)

0.021

(0.064)

0.032

(0.065)

 Credit card

0.027

(0.026)

 − 0.006

(0.017)

0.004

(0.067)

 − 0.019

(0.039)

0.014

(0.012)

 − 0.008

(0.021)

0.023

(0.061)

0.024

(0.085)

0.021

(0.071)

Grade

 A

1.342**

(0.029)

1.368**

(0.019)

1.352**

(0.074)

1.359**

(0.042)

1.375**

(0.015)

1.372**

(0.024)

1.350**

(0.088)

1.344**

(0.093)

1.324**

(0.089)

 B

0.816**

(0.023)

0.823**

(0.014)

0.810**

(0.056)

0.801**

(0.032)

0.836**

(0.012)

0.803**

(0.016)

0.814**

(0.057)

0.808**

(0.068)

0.795**

(0.057)

 C

0.386**

(0.021)

0.408**

(0.013)

0.402**

(0.063)

0.388**

(0.029)

0.417**

(0.010)

0.394**

(0.018)

0.400**

(0.060)

0.398**

(0.059)

0.393**

(0.064)

N

96,996

202,968

11,606

31,936

359,604

138,118

11,630

8,130

12,290