CardTrak - Tracking Payment Payment Cards for the U.S. Consumer Since 1986

After a mid-summer spurt, Americans retreated in August as revolving credit took a dive. During August, consumers lopped-off $3.4 billion in revolving credit, mostly credit card debt. One-year ago, consumers added $2.3 billion in revolving credit during August. At an annualized rate, consumer revolving credit decreased 5.4% during August. According to figures released yesterday by the Federal Reserve, at the end of August 2004 Americans owed $740.8 billion in revolving credit, compared to $744.2 billion for July. One-year ago revolving credit stood at $729.1 billion. Bank credit card debt (excluding store and gas credit cards) at the end of the second quarter was $672.1 billion, or roughly 90% of total revolving credit, according to CardData (www.carddata.com). At the end of August, Americans were $2037.9 billion in debt, excluding home mortgages.

                 REVOLVING CREDIT HISTORICAL ($billions)
           Aug 04   Jul 04  Jun 04   May 04   Apr 04   Mar 04   Feb 04
 GRWTH:     -5.4%    9.0%    -0.1     -1.0     -5.3     5.5     -0.6
 $OWED:    $740.8   744.2   738.6    738.6    740.9     744.2   750.4

           Jan 04   Dec 03   Nov 03   Oct 03   Sep 03   Aug 03   Jul 03
 GRWTH:     13.0%    3.3      4.9      4.1      6.8     3.4      1.4
 $OWED:     $753.0  734.1    743.8    740.5    730.7   729.1    726.8
         Source: Federal Reserve; revised figures as of 10/07/04;
     For complete historical data visit CardData (www.carddata.com)