CardTrak.com - Most Trusted Source of Credit Cards Since 1986

Driven by robust holiday sales, revolving consumer credit debt picked-up in January as Americans added $1.8 billion from the prior month. On an annual basis, revolving consumer credit, mostly credit card debt, grew by a rate of 2.6%. According to data released yesterday by the Federal Reserve, total revolving credit stood at $804.0 billion at the end of January, compared to a revised $802.2 billion for December and a revised $802.8 billion for November. The revised annual rate of growth for December was -0.9%, and 1.6% for November. Bank credit card debt (excluding store and gas credit cards) at the end of the fourth quarter was $710.9 billion or roughly 88% of total revolving credit, according to CardData (www.carddata.com). At the end of January, Americans were $2162.4 billion in debt, excluding home mortgages.