The Recently Conditions of Consumer Credit Card

Consumer Credit Card's focus is to provide consumers with helpful information regarding credit cards and credit related issues. Consumers slashed their credit card debt levels by more than $1,600 in 2009, according to the latest Federal Reserve report on consumer credit, and experts say a down economy will continue to leave borrowers with a distaste for debt.


And recently, it brings a complex phase to the consumer credit during the first month of the year of the report from the Federal Reserve Board.

According to the Fed in January consumer credit in the form of credit cards with a 2.4 percent average rate of advance. Compared to December last year, overall consumer credit fell 2.2 percent. As a whole, it is showed in January, the outstanding loans amounted to $2.45 trillion U.S. dollars in consumer credit.

Based on the recent report from Federal, the auto loans and other kinds of no revolving debt came in at $1.59 trillion for January. The consumer credit seems to grow along with the No revolving credit growth, which showed rose at a 5% annual rate in January, compared to a 3.7 percent increase last month, and a 7.7 percent decline in November.

Though with the increase of no revolving credit, most consumers trying to pay off their balance in full. In fact, till last year, the revolving consumer credit of credit card companies has been falling every month, it reached a low point and fall by 9.6%, 2009,showed by the Fed report. Though, as it showed a drop in revolving consumer credit of 2.3%, seems not as drastic as previous declines of 12.9 percent in December and even 18.5 percent in November.

The decline of revolving consumer credit is a double-edged sword, it may suggest that there are more people paying off their credit debt while on the other side, it means the customers find it hard to pay off their credit card debt and the banks had to charge off of what is owned them.