U.S. Consumer Credit Hits Record $5.08 Trillion in October
Revolving credit, including credit cards, climbed to $1.32 trillion, marking the highest level since November 2024.
Summary
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Terms & Concepts
- Revolving Credit: A type of credit that allows borrowers to draw, repay, and redraw funds, such as with credit cards.
- Consumer Credit: Total outstanding debt owed by individuals, including loans and credit cards.