Americans cut back on credit card use in September

Published November 7, 2013 8:26pm ET



WASHINGTON (AP) — Americans cut back on using their credit cards in September for the fourth straight month but boosted borrowing in the category that covers auto loans and student debt.

Consumers increased their borrowing by $13.7 billion in September to a seasonally adjusted $3.05 trillion, the Federal Reserve reported Thursday. That is a record and follows a gain of $14.2 billion in August.

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