On a month-over-month basis, it decreased by 0.13%, making it the second decline in the last three months.
For context, in the six years leading up to the 2020 Pandemic, the US only saw five months of revolving credit declines.
The 3-month moving average growth has been decreasing for over two years, the longest downward streak since the 2008 Financial Crisis.
This decline follows the average credit card interest rate hitting a new high of 22.8% in Q2 2024.
submitted by /u/XGramatik
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