Consumer revolving credit pancaked in December as Americans added less than $1 billion from the prior month, impacted by an early Thanksgiving. However, revolving consumer credit did top a record of $876 billion in December, growing at an annual rate of 0.9%. Based on revised figures, revolving debt rose 13.8% in November and 6.4% in October. According to data released by the Federal Reserve, total revolving credit grew $600 million during November to $876.2 billion. Bank credit card debt (excluding store and gas credit cards) at the end of the fourth quarter was about $750 billion or roughly 85% of total revolving credit, according to CardData (www.carddata.com). At the end of December, Americans were $2400.6 billion in debt, excluding home mortgages.
| REVOLVING CREDIT HISTORICAL ($billions) |
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| Dec 06 | Nov 06 | Oct 06 | Sep 06 | Aug 06 | Jul 06 |
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| GRWTH: | 0.9% | 13.8 | 6.4 | 4.3 | 8.9 | 6.7 |
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| $OWED: | $876.2 | 875.6 | 865.6 | 861.0 | 857.0 | 849.8 |
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| Source: Federal Reserve; revised figures as of 2/7/07; |
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| For complete historical data, visit CardData (www.carddata.com) |
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