Consumer Payment Card News

Sept Debt

Revolving consumer credit crossed the $800 billion mark in September, marking the first time Americans have crossed that threshold. During the third quarter consumers added $5.3 billion in revolving debt, mostly credit card debt, although the increase is modest compared to prior years. According to data released this week by the Federal Reserve, total revolving credit grew in September to $801.5 billion. The annual rate of growth for September was 4.7%, compared to 4.2% for August and -0.8% in July. Bank credit card debt (excluding store and gas credit cards) at the mid-year was $664.5 billion or roughly 83% of total revolving credit, according to CardData (www.carddata.com). Managed card loans among the top five U.S. issuers grew 1.9% during the third quarter, compared to one-year ago. At the end of September, Americans were $2160.1 billion in debt, excluding home mortgages.

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|_7. REVOLVING CREDIT HISTORICAL ($billions)|
|_. | Sep 05 | Aug 05 | Jul 05| Jun 05 | May 05| Apr 05|
|_. GRWTH: | 4.7% | 4.2 | -0.8 | 4.6 | 2.1 | -0.9|
|_. $OWED: | $801.5 | 798.4 | 795.6 | 796.2 | 789.3 | 786.6|
|_7. Source: Federal Reserve; revised figures as of 11/7/05;|
|_7. For complete historical data, visit CardData (www.carddata.com)|

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