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Consumer credit declined 60 basis points in October, the sharpest decline in more than 14 years. However, revolving consumer credit soared to a record of more than $863 billion in October. The decline was driven by a sharp drop in non-revolving credit which includes loans for automobiles, mobile homes, education, boats, trailers, or vacations. Based on revised figures revolving debt rose 4.9% in September and 8.9% in August. The growth slowed down to an annual rate of 4.1% in October. According to data released by the Federal Reserve, total revolving credit grew nearly $3 billion during October, compared to a revised $860.5 billion for September. Bank credit card debt (excluding store and gas credit cards) at the end of the third quarter was about $737 billion or roughly 86% of total revolving credit, according to CardData (www.carddata.com). At the end of September, Americans were $2378.4 billion in debt, excluding home mortgages.