We investigate bank relationships in a rarely-considered context – consumer and small business credit cards. Using over one million accounts, we find during normal times, consumer relationship customers enjoy relatively favorable credit terms, consistent with the bright side of relationships,...

We investigate how relationship borrowers fare relative to others in loan contract terms (spread, collateral, maturity, amount) during times of need using the COVID-19 quasi-natural experiment. COVID-19 is superior for such analysis because it primarily affects borrowers rather than banks. Our...