07-08-2008, 02:03 PM
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Hopeless Optimist
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Join Date: Oct 2005
Posts: 5,170
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Consumers accelerating their credit card spending
Consumers boosted their borrowing in May, mostly reflecting heavy credit card use to finance their purchases...
The increase was led by much stronger demand for a category called revolving credit, which is primarily credit cards. Use of revolving credit rose at a 7.1 percent pace in May, a month where a flow of tax rebates helped to energize consumer spending.
Ka-ching! Consumers borrow mostly on credit cards - Yahoo! News
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