Credit Access Helps US Families Cover $400 Shock Bill in Study

  • JPMorganChase Institute researched financial resilience
  • Most can afford small expense with mix of cash, income, credit

Refrigerators for sale at a store in Orem, Utah.

Photographer: George Frey/Bloomberg
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Cash may be king but it isn’t the only indicator of financial resilience, according to research drawing on the bank records from 5.9 million American households.

Expanded access to short-term credit may provide low-income households with a crucial lifeline when faced with unexpected expenses, according to a report by JPMorganChase Institute released Tuesday.