US Consumer Credit Rises in July

Total US consumer credit rose $18.06 billion in July 2026, following a $14.55 billion increase in June and beating forecasts for an $11.7 billion gain. Revolving credit, which includes credit card debt, increased $2.80 billion, pointing to stronger short-term consumer borrowing. Meanwhile, nonrevolving credit, which includes auto and student loans, rose $15.26 billion.

Total US consumer credit fell by $0.18 billion in May 2026, following an upwardly revised $20.82 billion increase in April and missing market expectations for a $17.1 billion gain. Revolving credit, which includes credit card debt, declined to $1.34 trillion from $1.35 trillion, pointing to weaker short-term consumer borrowing. Meanwhile, nonrevolving credit, which includes auto and student loans, increased to $3.81 trillion from $3.80 trillion. Overall consumer credit was unchanged on an annualized, seasonally adjusted basis, as revolving credit contracted at a 4.7% annual rate while nonrevolving credit grew at a 1.6% pace.

Total US consumer credit increased by $20.7 billion in April 2026, following a downwardly revised $22.3 billion gain in April and exceeding market expectations for an $18 billion increase. Revolving credit, which includes credit card debt, rose to $1.31 trillion from $1.30 trillion in the previous month, indicating continued growth in short-term consumer borrowing. Meanwhile, nonrevolving credit, which includes auto and student loans, increased to $3.76 trillion from $3.74 trillion. The data pointed to sustained consumer demand for credit despite elevated borrowing costs and a high interest-rate environment.