US Credit Card Debt Sees Biggest Drop In Over Four Years

zerohedge.com / by Tyler Durden / Mar 7, 2017 3:17 PM

The credit-card fueled spending spree came to a screeching halt in January, when according to the latest just released consumer credit data from the Fed, revolving credit tumbled by $3.8 billion. This was the first decline since February of 2016, and the biggest drop since December 2012.

On the other hand, the far more generous non-revolving, student and auto loans, rose once again, posting a $12.6 billion increase in January, bringing the total consumer credit increase to just $8.8 billion, one half of the $17 billion expected, and down materially from the revised December print of $14.8 billion.

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Read more ... source: The Bitcoin Channel

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