Credit unions with credit card programs might see a significant uptick in their credit card balances based on Federal Reserve data from the end of 2010.
In its latest Consumer Credit Report, the Federal Reserve reported that revolving credit, which is primarily credit card debt, increased in December at an annual rate of 3.5%.
This was the first increase in 27 months and left the total credit card debt outstanding at the end of the year at $800.5 billion, an increase of $2.3 billion from November.
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