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An index of late-payment rates hit a record low in the third quarter, as consumer spent less to fill their gas tanks.
January 8 -
The financial crisis scarred many Americans. Now that they have given themselves permission to spend again, they will do so responsibly.
January 7 -
The long-awaited rebound in credit card loans has arrived, fueled by looser credit standards and a larger appetite for debt among U.S. households.
June 26
Revolving consumer credit in the U.S. fell in November by the largest amount in a year, according to a report Thursday from the Federal Reserve Board.
The monthly report found that revolving consumer credit outstanding, which is mostly made up of credit card loans, fell on a seasonally adjusted basis by about $1 billion to $882 billion. That was the largest such drop in 12 months.
The decline interrupted a trend that's been welcomed by the credit card industry
Meanwhile, nonrevolving consumer credit continued to grow in November, rising by $15 billion on a seasonally adjusted basis. Nonrevolving credit includes auto loans and student loans, but not mortgages.
Overall, consumer credit, excluding mortgages, rose at a seasonally adjusted annual rate of 5.1% in November, the report found.
