Consumer Borrowing Grows in September, but Credit Card Use Falls

November 7, 2011
Associated Press 
credit card news

Americans borrowed more in September to buy cars and attend college, but they charged less to their credit cards for a third straight month, according to data from the Federal Reserve. Total consumer borrowing rose $7.4 billion in September, a 5.8 percent increase, but credit card purchases dropped 1 percent after larger declines in July and August. Credit card use has fallen nearly 19 percent since September 2008.
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