Federal Reserve and Credit Karma statistics

On August 6, the Federal Reserve said, “Revolving credit decreased at an annual rate of 9-1/2 percent, and nonrevolving credit was about unchanged.”

On August 11, Credit Karma reported, “Nationally, credit card debt amongst consumers with a credit card decreased by one percent since June 2010. However, credit card debt is up nearly 14 percent since July 2009.”

“Consumers have charged more on their credit cards and as a result, credit scores are lower,” [Credit Karma CEO Ken] Lin said. – San Francisco Business Times