Credit Card Use Declines in September

Consumers cut back on their use of credit cards again in September.

The latest report on Consumer Credit released today by the Federal Reserve shows that revolving credit, made up mostly of credit card debt, fell $2.9 billion to $852.0 billion during the month of September. This represents a 4.1 percent decline on an annualized rate.

This was the third decrease in revolving credit in the past four months.

For the third quarter of 2012, revolving credit decreased at an annual rate of 1.6 percent.

Non-revolving credit, such as auto loans and student loans, increased by an annual rate of 6.6 percent during the third quarter, including a very strong 9.9 percent increase in the month of September.

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: 15 month 0% intro APR plus $100 bonus after your first $500 in purchases within the first 3 months of cardmembership

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: