I'm curious how much of this is debt that is being carried for more than a month. I like many others use a credit card for the cash back / points and other benefits they provide and just pay off the balance every month.
My credit card debt looks substantially higher today than it did two years ago, but that's because I shifted from charging everything to my debit card to using a credit card that earns me rewards.
My average CC balance is about $1500-$2000, but it never stays there long enough to accrue interest because I just pay it off at the end of every month.
If it where the case that everyone was like you in their credit card use it would have to imply one month consumer spending also went up dramatically. This is something, at least according to earnings reports coming it, I don't believe we're seeing.
Or perhaps credit card popularity is increasing; spending that was previously done via cash and debit cards is shifting to credit cards. That would leave earnings constant.
