Female customer giving credit card at cash counter to salesperson. Horizontal shot.
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By Jason Lange

U.S. consumer credit surged in April as Americans ramped up their use of credit cards, a potentially positive sign for consumer spending.

Total consumer credit increased by $26.85 billion to $3.18 trillion, the Federal Reserve said on Friday. That meant consumer debt was growing at a 10.2 percent annual rate, the fastest pace of growth since July 2011.

Analysts polled by Reuters expected a more modest increase during the month of $15.5 billion.

Revolving credit, which mostly measures credit-card use, jumped by $8.8 billion. Americans had not added that much revolving debt in any one month since November 2007.

Non-revolving credit, which includes auto loans as well as student loans made by the government, rose $18.0 billion in April.


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Deborah Williams

This is a POSITIVE sign for the economy???? No, it means people don't have the CASH for what they need..........

June 10 2014 at 2:38 PM Report abuse +2 rate up rate down Reply
1 reply to Deborah Williams's comment
endlessdrip

People use credit to purchase goods and services, it doesn't always mean their broke.
Travel, purchases online, hotels, auto's, these are just a sample of what people use their credit cards for. Those that use them to stay alive by charging food etc. are probably fewer than you might think. Those people can't even get a credit card. Most use debit cards and that's not part of this survey.

September 08 2014 at 2:04 PM Report abuse rate up rate down Reply
drpmindmender

How much of those credit card purchases was spent on eating out, and cheap, Chinese-made crap?

June 10 2014 at 11:36 AM Report abuse -1 rate up rate down Reply