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Released: November 08, 2011
Borrowing up, but credit card use falls
Source: Martin Crutsinger, Associated Press (USA Today)
Americans borrowed more in September to buy cars and attend college, but they charged less to their credit cards for a third straight month. The figures suggest that consumers are growing more cautious about taking on high-interest debt in a weak economy.
The September increase reflected a 5.8% increase in borrowing in the category that includes car and student loans. But the category that covers credit card purchases dropped 1 percent after larger declines in July and August.
Read Full Article: Borrowing up, but credit card use falls
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