Photographer: Simon Dawson/Bloomberg

U.S. consumer borrowing rose at a slower pace in March as credit-card debt outstanding declined by the most since the end of 2012, Federal Reserve figures showed Monday. Total credit increased $11.6 billion (est. up $15.2 billion) and prior month revised up to $13.6 billion gain (prev. $10.6 billion) Revolving credit outstanding dropped $2.6b m/m, after a $515 million decrease in Feb. Non-revolving debt outstanding climbed $14.2 billion for a second month. A 0.9% annualized decline in first-quarter credit-card debt outstanding shows a waning appetite for borrowing after a 10.3% surge in the final three months of 2017.

At the same time, the pace of non-revolving credit picked up in the first quarter, partly explained by a rebound in motor-vehicle sales. The Fed’s consumer credit report doesn’t track debt secured by real estate, such as home equity lines of credit and home mortgages.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.