As income levels increase, numerous households will consider investing in risky assets. Credit availability, especially for high-income households, is playing an increasingly important role in enhancing households holdings of risky assets (HHRA). The purpose of this study is to investigate the impact of credit availability on HHRA. In this study, the data from the China Household Finance Survey in 2017 is utilized, and the approach of logit regression is employed to produce more accurate estimates. Meanwhile, this study also explores the heterogeneous roles of household income. The results show that the impact of credit availability on HHRA varies by household income. As household income increases from low to high, the effect of credit availability on HHRA transfers from negative to positive. Besides, the results also suggest that for high-income households, credit availability moderated with the attention to financial and economic information positively contributes to HHRA. Thus, it implies that policymakers and financial institutions are encouraged to expand access for households to invest in risky assets, enhance households’ availability of credit, and build more financing channels.