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Consumer Credit as of June 2011
On August 5th, the Federal Reserve released its latest preliminary findings of revolving consumer credit, better known as credit card debt. Credit card debt was up for the month of June 2011 by a whopping 7.9 percent. That was the largest growth in credit card debt this year.
Unfortunately, non-revolving consumer credit went up as well by 7.6 percent in June. That means that the amount of auto loans, student loans, and boat loans went up steadily.
Therefore, overall consumer credit was up 7.7 percent in June which continues the 2011 trend of more consumer debt.
www.faithfulfinances.com/HouseholdDebt/HouseholdDebtClock...
Consumer Credit as of June 2011
On August 5th, the Federal Reserve released its latest preliminary findings of revolving consumer credit, better known as credit card debt. Credit card debt was up for the month of June 2011 by a whopping 7.9 percent. That was the largest growth in credit card debt this year.
Unfortunately, non-revolving consumer credit went up as well by 7.6 percent in June. That means that the amount of auto loans, student loans, and boat loans went up steadily.
Therefore, overall consumer credit was up 7.7 percent in June which continues the 2011 trend of more consumer debt.
www.faithfulfinances.com/HouseholdDebt/HouseholdDebtClock...