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US consumer credit increased $17.9 billion in April, to $5.01 trillion, the highest since November 2024.
This is just $94 billion below an all-time high of $5.10 trillion set in October 2024.
Over the last 5 years, total consumer credit has risen by a massive $885 billion, or 22%.
Revolving debt, which includes credit cards, soared by $7.6 billion, the biggest jump since December.
Non-revolving credit rose by $8.3 billion, the second-largest monthly jump since June 2023.
Americans are drowning in debt to fight record prices.
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