Payment Card News

Feb Debt

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Consumer revolving credit jumped by $2.5 billion in February after a very sluggish January wherein Americans added $1.3 billion from the prior month. Revolving consumer credit set a new record of nearly $884 billion in February, growing at an annual rate of 3.4%. Based on revised figures, revolving debt rose 1.7% in January and 4.0% in December. According to data released by the Federal Reserve, total revolving credit has expanded by $3.8 billion since the start of the new year. 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”:http://www.carddata.com). At the end of February, Americans were $2409.7 billion in debt, excluding home mortgages.

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|_7. REVOLVING CREDIT HISTORICAL ($billions) |
|_. | Feb 07| Jan 07| Dec 06 | Nov 06 | Oct 06| Sep 06 |
|_. GRWTH: | 3.4% | 1.7 | 4.0 | 14.7 | 6.4 | 7.4 |
|_. $OWED: | $883.9 | 881.4 | 880.1 | 877.2 | 865.6 | 861.2 |
|_7. Source: Federal Reserve; revised figures as of 4/6/07; |
|_7. For complete historical data, visit CardData (“www.carddata.com”:http://www.carddata.com) |

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