The Federal Reservereported that Americans took out more loans to buy cars and attend school in February but used their credit cards less frequently for the second consecutive month. While consumers increased borrowing by $8.7 billion, borrowing on credit cards fell by $2 billion. Total consumer borrowing increased to a seasonally adjusted $2.52 trillion. The figure was almost at prerecession levels and was up from a postrecession low point of $2.39 trillion reached in September 2010.
Read the full article: Credit Card Borrowing Falls While Car Lending Is on the Rise