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October Consumer Credit: Up $14.2B, vs. an expected +$12B. It's the third strong gain in a row....
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Friday, December 7, 2012, 3:04 PM ETOctober Consumer Credit: Up $14.2B, vs. an expected +$12B. It's the third strong gain in a row. Nonrevolving debt (like personal loans and auto loans) led the increase again, up $10.8B, while revolving debt (credit cards) rose $3.4B to reverse course from September.
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Plus pay it off with cheaper money down the road...Additionally some people don't have ANY avaiable cash anyway.
This was no surprise!