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US Consumer Credit Rises $16 Billion in July to $5.06 Trillion

The increase marks the second-largest monthly gain of 2024, as total consumer credit reaches its third-highest level on record.

Summary

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Terms & Concepts
  • Consumer Credit: The total amount of debt held by consumers, including credit cards, auto loans, and other personal loans.
  • Revolving Credit: A type of credit that allows the borrower to withdraw, repay, and withdraw again, such as credit cards.