Consumer Credit Increases 6.2 Percent in October

Consumer added more debt again in October according to the latest monthly report from the Federal Reserve.

Consumer credit rose by a seasonally adjusted $14.2 billion, a larger increase than economists had predicted. This is the third straight monthly increase.

An increase in non-revolving credit, such as auto and student loans, was the main factor in this increase. Non-revolving credit increased 6.9 percent, jumping $10.7 billion in October after a $14.4 billion gain in September.

Revolving credit, the majority of which is credit cards, increased 4.7 percent or $3.4 billion after decreasing nearly $2.2 billion in September. Revolving credit now totals $857.6 billion.

Discover it® Apply Now

See Details

Discover it®

Special Offer: 0% Intro APR* on purchases and balance transfers for 14 months

Editor Rating:

Chase Slate® Apply Now

See Details

Chase Slate®

Special Offer: 0% intro APR for 15 months plus no balance transfer fees within the first 60 days

Editor Rating:

Chase Freedom® Apply Now

See Details

Chase Freedom®

Special Offer: $100 bonus after you spend $500 on purchases within the first 3 months of account opening plus 0% intro APR for 15 months!

Editor Rating:

Citi® Platinum Select® / AAdvantage® World MasterCard® Apply Now

See Details

Citi® Platinum Select® / AAdvantage® World MasterCard®

Special Offer: No annual fee the first 12 months of cardmembership

Editor Rating:

Barclaycard® Ring MasterCard® Apply Now

See Details

Barclaycard® Ring MasterCard®

Special Offer: Low 8% (V) APR on purchases and balance transfers

Editor Rating: