Chart of the Day: Borrowing Back to Pre-Crisis Levels

More

The Money ReportConsumer credit has finally passed its pre-bust peak at $1.617 trillion -- equal to more than a tenth of the economy. But credit card balances are down 20% in the last three years, the first time credit card use has slipped since the Federal Reserve Board has tracked revolving loans.

Are Americans eschewing plastic in a new age of austerity? Perhaps. But much of the collapse in credit card balances can be attributed to banks writing off delinquent payments, canceled cards, and lower limits.

credit card falling.png
Read the full story in the New York Times


Jump to comments
Presented by

Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

Get Today's Top Stories in Your Inbox (preview)

Why Are Americans So Bad at Saving Money?

The US is particularly miserable at putting aside money for the future. Should we blame our paychecks or our psychology?


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

The Death of Film

You'll never hear the whirring sound of a projector again.

Video

How to Hunt With Poison Darts

A Borneo hunter explains one of his tribe's oldest customs: the art of the blowpipe

Video

A Delightful, Pixar-Inspired Cartoon

An action figure and his reluctant sidekick trek across a kitchen in search of treasure.

Video

I Am an Undocumented Immigrant

"I look like a typical young American."

Video

Why Did I Study Physics?

Using hand-drawn cartoons to explain an academic passion

Writers

Up
Down

More in Business

Just In