Credit Continues to Increase, Improving Economic... - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Credit Continues to Increase, Improving Economic Outlook

Credit Continues to Increase, Improving Economic Outlook

Credit Continues to Increase, Improving Economic Outlook
January
11

The Federal Reserve’s monthly report for November 2012 shows an economy in continued comeback mode. For the fourth month in a row, consumer credit has risen, posting a $16.05 billion increase in November.

In October 2012, consumer credit was up by only $14.08 billion, but it has expanded at a steady pace since the middle of 2010 – a good sign for the economy and more than predicted. However, looking at the difference between revolving and non-revolving credit gives a fuller picture of just where that credit increase is occurring. Non-revolving credit made up most of the rise in credit.

Credit card use not so strong

Revolving credit – the kind that includes credit card spending – was only up by $817 million, compared with $15.23 billion for non-revolving credit. That means more people taking out loans to attend school and buy cars rather than putting charges on credit cards.

Government student loans were up 28% over last year, although they were still below the record-high increase of 81% in September 2010. At that time, many people faced with unemployment because of the recession flooded campuses in pursuit of new degrees. People are still returning to school – and taking out loans to do so – but not at the same rate.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Consumer Credit Surpasses October Expectations
Consumer Credit Surpasses October Expectations

Posted: December 11, 2012

The Federal Reserve reported that consumer credit was up $14.2 billion in October, beating economic forecasts. Continue reading
Credit Card Use Declined in March
Credit Card Use Declined in March

Posted: May 09, 2013

Consumers are cutting back on their use of credit cards, according to the latest report from the Fed. Borrowing in March saw its smallest increase in eight months—and even that slight uptick was due to student and auto loans, not credit... Continue reading
Discover Card Earnings Up in Fourth Quarter
Discover Card Earnings Up in Fourth Quarter

Posted: December 24, 2012

Discover Financial Services’fourth-quarter earnings were up 6% from last year. Charge-offs for the credit card issuer were at an all-time low in the final quarter of 2012. Continue reading
  • http://www.facebook.com/people/Deborah-Ellsworth/100000101874237 Deborah Ellsworth

     would very much like to start a new credit history  by making payments on time I would tohave a credit card that is NOT PREPAYID! I don’t need a card with a high limit just something to start a new credit history.
    Thank You Deborah Ellsworth

  • http://www.facebook.com/people/Deborah-Ellsworth/100000101874237 Deborah Ellsworth

    I would very much like to start a new credit line to get back on track. I DO NOT WANT A PREPAID CARD!! This new credit card if I am approved does not have to hace a high limit just something for me to start over again and prove myself
    ThankYou.
    D Ellsworth

Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
We'll match all the Miles you've earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
For Excellent, Good Credit
Our application is quick and easy with instant pre-qualification available
For Fair / Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!