US Consumer Credit Rises $14.17 Billion in June, Reversing May Decline
US consumer credit increased by $14.17 billion in June 2026, reversing a $1.1 billion decline in May. Revolving credit, or credit card debt, rose $6.7 billion to $1.351 trillion, just $1 billion shy of the October 2024 record. Non-revolving credit climbed $7.4 billion to a record $3.816 trillion in student and auto loans. The average credit card APR reached 22.15%, a three-year high, while the average auto loan amount hit a record $42,500 in the first quarter of 2026.
Revolving credit, or credit card debt, rebounded markedly after a sharp decline in May, rising by $6.7 billion in June to bring total outstanding credit card debt to $1.351 trillion, just $1 billion below the record high set in October 2024.
Non-revolving credit increased by $7.4 billion during the month, maintaining a steady pace of growth, and lifting the combined total of student loans and auto loans to $3.816 trillion, a record high. Auto loans have shown little fluctuation since late 2023, holding at around $1.6 trillion, and reached a record $1.571 trillion by the end of June. Student loans resumed growth after a modest decline in late 2023, again approaching their historical peak, though they eased by $4.5 billion in June.
The average interest rate on credit card accounts, including finance charges, rose to 22.15% in June, the highest level in three years. Meanwhile, the average amount financed for auto loans reached $42,500 in the first quarter of 2026, the highest on record; previously, from 2008 to 2014, the figure had held steady at around $25,000 for roughly six years.