Consumer Credit Stats
You are not the only one struggling. Look at the following statistics released by Federal Reserve Bank. Consumers are working hard to pay off their debts.
The Federal Reserve Consumer Report was released May 7.
Consumer Credit Report
“Consumer credit increased at an annual rate of 1 percent in March 2010. Revolving credit decreased at an annual rate of 4-1/2 percent, and non-revolving credit increased at an annual rate of 4 percent.”
February reported $2,446 trillion in outstanding consumer credit and showed improvement in March reporting $2,433 trillion.
Credit unions reported $229.6 billion in outstanding consumer credit in March, and $231.6 billion in February.
Everyday more and more people are taking control of their future and boosting their credit. It is difficult to feel confident in the surrounding economy. However, you deserve to financial credibility and you can establish better credit for better life options. Now that you have a professional support system to lead you towards better credit and better financial behaviors- there is no excuse. Give yourself a chance for better credit.
We can continue to make imporvedments as a nation, one person at a time. Join Innovative Credit Consultants, get a free credit repair evaluation and boost your credit.
- Understanding Credit:
