U.S. Consumer Credit Rises $14.17 Billion in June

The Federal Reserve System reported that U.S. consumer credit increased by $14.17 billion in June, surpassing the median estimate of $11.9 billion. This growth reversed a $1.1 billion decline recorded in May.

According to the G.19 report, revolving credit grew by $6.7 billion, pushing total outstanding credit card debt to $1.351 trillion. This figure nearly matches the all-time high established in October 2024. The average interest rate on credit card accounts climbed to 22.15%, the highest level in three years.

Non-revolving credit, which includes auto and student loans, rose by $7.4 billion to a record high of $3.816 trillion. Auto loans specifically reached a record $1.571 trillion, with the average amount financed hitting a record high of $42,500 in the first quarter of 2026. Conversely, student loans saw a slight decline of $4.5 billion during the month of June.