Consumer revolving credit remained flat in January as Americans added less than $1 billion from the prior month. However, revolving consumer credit did set a new record of $879 billion in January, growing at an annual rate of 1.1%. Based on revised figures, revolving debt rose 1.9% in December and 13.8% in November. According to data released by the Federal Reserve, total revolving credit grew $800 million during January to $879.4 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 January, Americans were $2411.4 billion in debt, excluding home mortgages.
| REVOLVING CREDIT HISTORICAL ($billions) |
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| Jan 07 | Dec 06 | Nov 06 | Oct 06 | Sep 06 | Aug 06 |
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| GRWTH: | 1.1% | 1.9 | 14.7 | 6.4 | 4.3 | 8.9 |
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| $OWED: | $879.4 | 878.6 | 877.2 | 865.6 | 861.0 | 857.0 |
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| Source: Federal Reserve; revised figures as of 3/7/07; |
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| For complete historical data, visit CardData (www.carddata.com) |
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