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.


This entry was posted in Credit Card News and tagged , , , , by Natalie Rutledge. Bookmark the permalink.
The information contained within this article was accurate as of November 7, 2012. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website.
Editorial Disclosure
LowCards.com is an independent, for-profit web site. LowCards.com participates in the Affiliate Network, and receives compensation from most of the credit card issuers whose offers appear on the site. This compensation helps support our website and enables us to write insightful articles to help you manage your credit card accounts. This compensation, as well as the likelihood of applicants’ credit approval and our own proprietary website guidelines, may impact how and where the cards appear on our site.

LowCards.com does not include all credit card companies or every available credit card offer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Every reasonable effort has been made to maintain accurate information, however credit card offers change frequently. After you click on an offer you will be directed to the credit card issuer’s secure web site where you can review the terms and conditions for your offer.

About Natalie Rutledge

Natalie Rutledge majored in Communications at Mississippi State University. She was in sales for a number of businesses and spent nine years working as a communications advisor to various entities. Natalie can be contacted directly at natalie@lowcards.com