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Credit CheckMobile WalletInformed InsightIndustry PulseQ1 2014

How Much are Consumers Spending and Borrowing?

Last Updated:  Mar 20th, 2014

Consumer Spending

Consumer Credit Through Q4 2013

  • Overall credit and debit spending is up 8% in the United States in 2013, however this trails behind global spending which saw a 12% rise.
  • According to the latest release from the Federal Reserve, Americans continue to increase both their revolving and non-revolving debt levels. While still down from pre-recession levels, this marks the 8th consecutive quarter of growth.
  • The Q4 4.4% jump in revolving credit was the largest quarterly jump seen in the US since 2008.
  • An interesting trend reported by Equifax notes that while overall credit card usage is down, retail credit debt grew 7% when compared the third quarter of 2013 to 2012. This is marked difference from the .5% growth seen on general purpose cards.
  • For the first time in 20 years debit card spending lost market share to credit cards in the US.


Looking Ahead

  • With expected car sales increasing nearly 5% compared to 2013, Kiplinger projects retail sales to accelerate steadily in 2014, with a gain in the 5.2% to 5.7% range, a .7 percentage point jump over the 4.5% of 2013.



  • Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit Credit cards are an example of revolving credit used by consumers.

  • Non-revolving credit is when credit is extended via a fixed repayment plan. These payments are paid on non-revolving credit plans.