Payment Card News

March Debt

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Revolving consumer credit continued to hover at the $800 billion level in March after peaking in the prior two months at nearly $806 billion. On an annual basis, revolving consumer credit, mostly credit card debt, slipped by a rate of 0.2%. According to data released Friday by the Federal Reserve, total revolving credit stood at $805.8 billion at the end of March, compared to a revised $805.9 billion for February and January. The revised annual rate of growth for February was 0.1% and 1.9% for January. Bank credit card debt (excluding store and gas credit cards) at the end of the fourth quarter was $710.9 billion or roughly 88% of total revolving credit, according to CardData (“www.carddata.com”:http://www.carddata.com). At the end of March, Americans were $2161.4 billion in debt, excluding home mortgages.

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|_7. REVOLVING CREDIT HISTORICAL ($billions)|
|_. | Mar 06| Feb 06| Jan 06| Dec 05 | Nov 05 | Oct 05|
|_. GRWTH: | -0.2% | 0.1 | 1.9 | -0.1 | 1.6 | -1.5|
|_. $OWED: | $805.8 | 805.9 | 805.9 | 804.6 | 801.4 | 801.3|
|_7. Source: Federal Reserve; revised figures as of 5/5/06;|
|_7. For complete historical data, visit CardData (“www.carddata.com”:http://www.carddata.com)|

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