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.