Rates & Fed · August 8, 2026 · 1 min read

Consumer Credit Grew at a 2.6% Annual Rate in Q2, With Faster Revolving Growth

Published August 8, 2026 • Updated August 21, 2026

Federal Reserve data showed consumer credit increased in the second quarter while revolving credit grew faster than nonrevolving credit.

CONFIRMED FACTS The Federal Reserve’s August 7 Consumer Credit release reported total consumer credit increased at a 2.6 percent seasonally adjusted annual rate in the second quarter of 2026. The series excludes loans secured by real estate. The release reported June consumer credit increased at a 3.3 percent annual rate after a revised 0.3 percent annual-rate decline in May. Revolving credit increased at a 3.9 percent annual rate in the second quarter and 6.0 percent in June; nonrevolving credit increased at 2.1 percent and 2.3 percent, respectively. For the second quarter, the release reported a 20.94 percent average APR for commercial-bank credit-card plans across all accounts and 22.15 percent for accounts assessed interest. ANALYSIS The aggregate release separates a change in outstanding borrowing from the reported cost of carrying credit-card balances. Faster revolving growth does not by itself establish financial stress or a change in underwriting, but it is distinct from the slower nonrevolving-credit figure. UNKNOWNS AND LIMITS The release does not identify borrower-level repayment capacity, delinquencies, income, region, or whether the June reading will persist. The aggregate categories do not determine how much of the change came from any particular credit-card, vehicle, student-loan, or other loan segment. UPDATE LOG Published August 8, 2026 after direct review of the Federal Reserve’s current G.19 release.

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Sources

Federal Reserve Board — Consumer Credit (G.19), June 2026 — Primary release supporting growth rates, balances, revolving/nonrevolving distinctions, and reported credit-card APR measures.
Federal Reserve Board — Assets and Liabilities of Commercial Banks in the United States (H.8) — Primary banking-system context with separate coverage from the G.19 consumer-credit totals.

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