October saw U.S. consumers’ outstanding credit balances fall by 3.25%, the ninth straight month in a row balances have fallen. It seems clear now that Americans have learned that “credit” is not synonymous with “free money.”
Below, the report from The Fed:
Fed Consumer Credit Oct 2009 –
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See Also:
- Consumer Credit Plunges
- Gartman: Here’s Why Credit Card Delinquencies Fell To 1.1%
- 10 Ways Credit Card Companies Are Still Screwing You