Consumer revolving credit grew again in July after topping the $900 billion milestone for the first time in June. Americans tacked on $5.0 billion in net new revolving debt in July after racking up new debt of $4.7 billion in June. Revolving consumer credit has now reached a record $907.4 billion and is growing by 6.6% per annum. Based on revised figures, revolving debt rose 6.0% in June and 10.9% in May. According to data released by the Federal Reserve, total revolving credit has expanded by $31 billion since the start of the new year. Bank credit
card debt (excluding store and gas credit cards) at the end of the second quarter was about $740 billion or roughly 82% of total revolving credit, according to CardData (www.carddata.com). Store and gas credit cards had about $105 billion in outstandings at year-end 2006. At the end of July, Americans were $2457 billion in debt, excluding home mortgages.
| REVOLVING CREDIT HISTORICAL ($billions) |
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| Jul 07 | Jun 07 | May 07 | Apr 07 | Mar 07 | Feb 07 |
| GRWTH: | 6.6% | 6.6 | 10.9 | 1.5 | 6.0 | 2.9 |
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| $OWED: | $907.4 | 902.4 | 897.7 | 887.6 | 889.5 | 880.9 |
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| Source: Federal Reserve; revised figures as of 9/10/07; |
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| For complete historical data, visit CardData (www.carddata.com) |
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