US Revolving Credit Rises 22nd Month To Record $1.22 Trillion

Revolving credit in the US hit a new record high in January, data released on Tuesday showed. At $1.215 trillion, the mountainous pile is now 10% taller than it was in February of 2020, on the eve of the pandemic, and a truly "impressive" 25% higher than the pandemic-era low reached in January of 2021, when consumers were still receiving various forms of stimulus. The increase from December was a relatively pedestrian $11.2 billion. Figures for October and November were revised markedly higher