$840.8 billion

[sweeps]

Time to update the revolving debt clock at the top of the site...

Revolving credit, which includes credit and charge cards, rose by an annual 3.43 percent rate in July to $840.8 billion, indicating a heavier reliance on cards than on other types of consumer debt during July. Revolving credit rose at an upwardly revised 13.17 percent clip during June.

Article

[boefixepa]

How sad....

[Joan.of.the.Arch]

Sometimes I think the US economy is like an old Ed Sullivan Show plate spinning act. Pretty soon it is going to tip off balance and come crashing down. No one can spin plates forever.

[Joan.of.the.Arch]

But it looks really good while those plates are spinning!

[Broken Arrow]

That's a lot of lattes!

[greedy4chips]

I think that increase is completely justified when you consider the rise in gas prices alone, up over $1.00/gallon and how many millions of debt per day does that add.

[sweeps]

Originally Posted by greedy4chips

I think that increase is completely justified when you consider the rise in gas prices alone, up over $1.00/gallon and how many millions of debt per day does that add.

Believable, maybe, but justified? This is revolving credit we're talking about.

[greedy4chips]

Overstated I guess.

Also, I wonder what portion of the 840 billion is being carried at 0%? I personally have 40k+ currently at 0% that is sitting in CDs earning me interest.

We see it on this and other forums about moving loans to 0% cards all the time. I wonder how many people are doing the shuffle game with the 0% cards?