US Consumer Credit

Data Consumption

Source: Federal Reserve
Source Link: https://www.federalreserve.gov/
Frequency: Monthly
Next Release(s): December 5th, 2025 3:00 PM

Latest Updates

US consumer credit increased $13.1 billion in September 2025, or at an annualized rate of 3.1%, above expectations of an increase of $10 billion.
- Revolving credit increased at a SAAR of 1.5%, bouncing from a weak -5.6% pace in August.
- Nonrevolving credit increased at a SAAR of 3.7%, above the overall growth rate of 2.9% in Q3.
- Total outstanding consumer credit increased to $5.08 trillion with revolving credit balances up to $1.31 trillion and nonrevolving credit balances up to $3.77 trillion.
US consumer credit was basically unchanged in August 2025, increasing at an annualized pace of 0.1% (or +$0.36 billion), below expectations of an increase of $13.5 billion.
- Revolving credit (mostly credit cards) fell at a -5.5% SAAR in August, after an increase July at a strong 10.3% SAAR.
- Nonrevolving credit (mostly auto and student loans) continued to rise at a solid pace for the 4th straight month, up at a 2.0% SAAR in August.
- Total outstanding consumer credit remained at $5.06 trillion, with revolving balances at $1.31 trillion and nonrevolving balances at $3.76 trillion.
US consumer credit rose for the 5th straight month at a 3.8% annualized pace, or by $16.0 billion, in July 2025, ahead of expectations of an increase of $10.1 billion and an acceleration over May and June growth.
- Revolving credit (largely credit cards) grew +9.7% SAAR, rebounding sharply from +0.7% in June, pointing to stronger household borrowing for short-term spending.
- Nonrevolving credit (mainly auto and student loans) rose +1.8% SAAR, easing from +2.8% in June.
- Total outstanding consumer credit increased to $5.06 trillion, with revolving balances at $1.31 trillion and nonrevolving balances at $3.75 trillion.
- Q2 2025 growth in consumer credit was +2.8% SAAR, with July’s faster pace indicating a pickup entering Q3.
US consumer credit increased $7.4 billion, or a 1.8% annualized rate, in June, below expectations of an $7 billion increase but the fourth consecutive month of positive consumer credit growth.
- Revolving credit fell at a SAAR of -1.0%, and nonrevolving credit grew at a SAAR of 2.7%.
- Total consumer credit is now over $5 trillion for the first time ever.
US consumer credit increased $5.1 billion, or a 1.2% annualized rate, in May, below expectations of an $11 billion increase.
- Revolving credit fell at a SAAR of -3.2%, and nonrevolving credit grew at a SAAR of 2.8%.
- Total consumer credit is now just under $5 tril at $4.998.9 tril.
Consumer credit increased at an annualized rate of 4.3%, or $17.85 billion, in April.
- Total revolving credit increased at a 7.0% rate while total nonrevolving credit grew at a 3.3% rate.
Consumer credit increased at an annualized rate of 2.4%, or $10.17 billion, in March, slightly above expectations of an increase of $9.5 billion.
- Total revolving credit increased at a 1.7% rate while total nonrevolving credit grew at a 2.7% rate.
Consumer credit fell at an annualized rate of -0.2%, or -$0.8 billion, in February, well below expectations of an increase of $15.2 billion.
- Total revolving credit increased at an 0.1% rate while total nonrevolving credit fell at an -0.3% rate.
- Interest rates on new car loans increased, while rates on credit card plans and personal loans broadly eased.
- The rates on 24-month personal loans fell to 11.66%, much lower than the 2024 rate of 12.27%.
US consumer credit increased $18.1 billion, or a 4.3% annual rate, in January, above expectations of an increase of $14.5 billion.
- Revolving debt increased at an annual rate of 8.2%, continuing the strength of the 18.5% annual rate in December.
- Nonrevolving debt increased at an annual rate of 3.0%, another solid increase
US consumer credit bounced back strongly in December, increasing at an annual rate of 9.6%, or an increase of $40.85 billion (vs $12.35 billion expected) after falling at a -1.3% rate in November. This increase was the largest since June 2021.
- Revolving credit balances grew at a 20.2% annual rate, bouncing from a -12.1% rate in November
- Nonrevolving credit balances were up at a solid 5.8% rate
Total US consumer credit fell -$7.49 billion, or an annual rate of -1.8%, in November which is sharply different from the $10.5 billion increase that was expected.
- This included a decline at an annual rate of -12.0% in revolving credit (though this followed a 13.4% increase in October.
- It’s possible that consumers shifting holiday spending forward to October instead of November could have caused some unusual readings in seasonally adjusted revolving data.