U.S. consumer credit up $14.3 bln in Jan

[UpInArms]

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38051.6253472222-812701263&siteID=mktw&scid=0&doctype=806&

WASHINGTON (CBS.MW) -- Consumer credit in the United States rose $14.3 billion, or at an 8.6 percent annual pace, in January, to $2.02 trillion, the Federal Reserve said Friday. The rise was much higher than the $5.7 billion predicted by economists polled by CBS MarketWatch and is the fastest rise in eight months. In December, total consumer credit rose a revised $8.3 billion, more than the $6.6 billion increase initially estimated.

...just a bit more...

[FloridaPat]

1. Unemployment really takes advantage of those credit cards.

And so does loosing your good paying job for a job at Walmart.

[MI Cherie]

2. So that's why ...

... they say consumer spending is up! Buy now, pay later. Charge it!

[jburton]

3. The card co's are going bonkers now

My credit card has been offering all sorts of premiums - they just automatically upped my limit by $10,000.

The thing is, this was done with NO verification of employment or anything. I carry no balance, so they said they were "rewarding" me.

It's white-collar loan sharking.