This is the first in a series of posts on consumer debt. The above charts show two views of consumer credit in the U.S. The first chart is a view of consumer credit in March 1969, and the second chart is a view of consumer credit in March 2009. Two observations: 1) consumer credit has greatly expanded in the past 40 years (big surprise), and 2) Revolving credit (credit card debt) has grown from almost nothing to over a third of consumer credit now.
I tried to make the two charts to scale. PieR2 calculation (it was a little difficult to measure on my screen, but I think it is pretty close).
Revolving credit is basically credit card debt, and non-revolving credit is debt from things like autos, boats, student loans. All data is seasonally adjusted.
Please note that consumer credit does not include mortgage debt.
U.S. Federal Reserve. G.19.