Credit Card Usage drops for 27th Straight Month

Credit Card Usage drops for 27th Straight Month

January 8, 2011         Written By Lynn Oldshue

Credit card usage fell for the 27th straight month according to Federal Reserve’s Report on consumer credit. The report says November credit card borrowing decreased $4.2 billion, or 6.3%, to $796.5 billion. The last time credit-card debt rose was August 2008.

Overall consumer credit outstanding increased $1.3 billion, or 0.7%, to $2.40 trillion.

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The information contained within this article was accurate as of January 8, 2011. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Lynn Oldshue

Lynn Oldshue has written personal finance stories for for twelve years. She majored in public relations at Mississippi State University.
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