Consumer revolving credit soared in November, as Americans tacked on more than $8 billion from the prior month. Revolving consumer credit hit a record of nearly $873 billion in November, growing at an annual rate of 11.9%. Based on revised figures, revolving debt rose 4.2% in October and 4.3% in September. According to data released by the Federal Reserve, total revolving credit grew $8.5 billion during November to $872.6 billion. 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 November, Americans were $2389.7 billion in debt, excluding home mortgages.
| REVOLVING CREDIT HISTORICAL ($billions) |
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| Nov 06 | Oct 06 | Sep 06 | Aug 06 | Jul 06 | Jun 06 |
| GRWTH: | 11.9 | 4.2 | 4.3 | 8.9 | 6.7 | 9.8 |
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| $OWED: | $872.6 | 864.1 | 861.0 | 857.0 | 849.8 | 845.9 |
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| Source: Federal Reserve; revised figures as of 1/8/07; |
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| For complete historical data, visit CardData (www.carddata.com) |
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