U.S. consumer credit increased by about $27.8 billion in September, according to Federal Reserve figures released November 6, as revolving borrowing rebounded from an August decline.
Total consumer credit outstanding reached a seasonally adjusted $5.2244 trillion, up from $5.1966 trillion in August. The September increase was equivalent to a 6.4% annual rate, compared with a revised 1.9% annual rate in August. Those annualized figures express the pace of one month’s change; they do not mean borrowing rose 6.4% during September itself.
Revolving credit, which includes credit card borrowing, grew at a 14.5% annual rate in September after contracting at a revised 4.4% pace in August. The seasonally adjusted outstanding balance rose to $1.3685 trillion from $1.3522 trillion, an increase of about $16.3 billion based on the rounded levels in the release.
Nonrevolving credit increased at a 3.6% annual rate, down from 4.1% in August. That category includes motor vehicle and education loans, among other borrowing. Its outstanding balance reached $3.856 trillion, compared with $3.8444 trillion a month earlier.
For the third quarter as a whole, consumer credit expanded at a 4.2% annual rate. Revolving credit grew at a 4.1% pace over the quarter, while nonrevolving credit increased 4.2%.
The Fed’s G.19 report covers most credit extended to individuals but excludes loans secured by real estate. September and third-quarter figures are preliminary, and the August figures were revised. The release describes borrowing balances and their changes; it does not by itself establish why households borrowed more or how much financial strain individual borrowers face.
Sources: Federal Reserve, Consumer Credit—G.19, November 6, 2026: https://www.federalreserve.gov/releases/g19/20261106/