Revolving consumer credit continued to hover at the $800 billion mark in November, down a modest $900 million from the record set in September. Month-to-month, revolving consumer credit increased a mere $300 million. On an annual basis, revolving consumer credit grew at a 0.5% rate. According to data released by the Federal Reserve, total revolving credit was $799.1 billion in November, compared to $798.8 billion for October and $800.7 billion for September. The revised annual rate of growth for October was -2.8%, compared to +8.0% for September. Bank credit card debt (excluding store and gas credit cards) at the end of the third quarter was $671.7 billion or roughly 84% of total revolving credit, according to CardData (www.carddata.com). Managed card loans among the top five U.S. issuers grew 1.9% during the third quarter, compared to one-year ago. At the end of November, Americans were $2156.0 billion in debt, excluding home mortgages.
| REVOLVING CREDIT HISTORICAL ($billions) |
|---|
| Nov 05 | Oct 05 | Sep 05 | Aug 05 | Jul 05 | Jun 05 |
| GRWTH: | 0.5% | -2.8 | 8.0 | 7.0 | -0.8 | 5.7 |
|---|
| $OWED: | $799.1 | 798.8 | 800.7 | 795.2 | 795.6 | 789.3 |
|---|
| Source: Federal Reserve; revised figures as of 1/9/06; |
|---|
| For complete historical data, visit CardData (www.carddata.com) |
|---|
