Revolving consumer credit remained above the $800 billion mark in July after crossing the milestone in June for the first time ever. However, Americans clipped $1 billion off the figure during July. One-year ago consumers paid off $5.6 billion in revolving debt. According to data released today by the Federal Reserve, Americans owed $805.0 billion in revolving credit at the end of July, compared to $793.5 billion at year-end 2004. One-year ago revolving credit stood at approximately $744.1 billion. The annual growth rate is now -1.5%, compared to 10.8% in the previous month and 9.0% one-year ago. Bank credit card debt (excluding store and gas credit cards) at the mid-year was $664.5 billion, or roughly 83% of total revolving credit, according to CardData (www.carddata.com). At the end of July, Americans were $2156.5 billion in debt, excluding home mortgages.
| REVOLVING CREDIT HISTORICAL ($billions) |
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| Jul 05 | Jun 05 | May 05 | Apr 05 | Mar 05 | Feb 05 |
| GRWTH: | -1.5% | 10.8 | 2.1 | -0.9 | 1.7 | 1.9 |
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| $OWED: | $805.0 | 806.0 | 798.8 | 796.1 | 796.8 | 796.9 |
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| Source: Federal Reserve; revised figures as of 9/08/05; |
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| For complete historical data, visit CardData (www.carddata.com) |
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