US Consumer Credit Surges $25B to Record $5.14 Trillion in March
Total US consumer credit rose $25 billion in March to a record $5.14 trillion, driven by a $10 billion jump in revolving credit (credit cards) and a $15 billion increase in non-revolving credit, according to The Kobeissi Letter.
U.S. consumer credit expanded by $25 billion in March, pushing the total to an all-time high of $5.14 trillion. This marked the largest monthly increase since March 2025.
Revolving credit, which mainly includes credit cards, climbed $10 billion to $1.34 trillion — the highest level since November 2024 and the biggest monthly gain since February 2024. Non-revolving credit, comprising auto and student loans, rose $15 billion to a record $3.80 trillion.
Since the 2020 pandemic, total consumer credit has surged by $1.05 trillion, highlighting how households are increasingly relying on debt to manage rising costs.
Source: The Kobeissi Letter