Credit Card Debt Jumps in March

Credit Card Debt Jumps in March

May 7, 2015         Written By John H. Oldshue

Consumers are borrowing once again.

The latest Consumer Credit report from the Federal Reserve showed that consumer debt grew at an annual rate of 7.4% in March, which is the largest increase in 11 months. Total outstanding debt, not including mortgages, saw a $20.5 billion increase in March to $3.363 trillion.

Revolving credit, which is made up mostly of credit card debt, jumped $4.4 billion, after declines in both January and February. This was the largest increase since July of last year and represented an annualized increase of 5.9% Revolving credit now totals $889.4 billion.

But credit card debt actually fell during the first quarter of 2015. Revolving credit was down at an annualized rate of 0.3% in the first quarter.



The information contained within this article was accurate as of May 7, 2015. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


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About John H. Oldshue

John Oldshue is the creator of LowCards.com. He worked for over 15 years in television and won an Emmy award for his reporting. He covers credit card rate issues for LowCards.com.
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