New Figures Show Surge In Consumer Credit Card Debt

Consumers increased their borrowing in March by the largest amount in nearly a year as borrowing on credit cards rebounded following two months of declines. Consumer borrowing expanded by $20.5 billion in March to a fresh record of $3.36 trillion, the Federal Reserve reported Thursday.

It was the largest increase since April 2014. Borrowing in the category that covers credit cards shot up $4.4 billion to $889.4 billion in March after having fallen in both January and February. It was the biggest gain for consumer credit since last July.

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