One year ago American consumers added $4.1 billion to revolving credit during the month of March. This year, the trend has completely reversed as American consumers paid down $800 million of revolving credit during March. According to preliminary figures released last week by the Federal Reserve, revolving credit, mostly credit card debt, dropped at an annual rate of 1.6% during March, compared to a 5.1% gain in February. Since the first of this year revolving credit has grown $7.8 billion. Overall consumer credit is growing 1.4% annually, compared to 6.6% one year ago, according to the FRB. At the end of March, American consumers were $1.325 trillion in debt, exclusive of home mortgages. American consumers now owe $568.3 billion in revolving credit.