chart of credit card balances at banks and CUsCredit card balances came close to a pandemic recovery in November at credit unions, but post-holiday payoffs are likely to lower balances again.

Credit unions held $64.3 billion in credit card debt in November, up 4.1% from a year earlier and up 3% from October, according to the Fed's G-19 Consumer Credit Report released Friday.

The 3% gain is nearly double the 1.6% average October-to-November gain for credit unions, based on Fed data from 2015 through 2019. December gains are typically near 3%, but balances typically fall about 1% per month in January and February.

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