the numbers total consumer credit rose by 238 billion in july down from 391 billion jump in the prior month the federal reserve said thursday that translates into a 62 annual rate down from a 102 gain in the prior month economists had been expecting a 30 billion gain according to the wall street journal survey key details revolving credit like credit cards rose 116 in july after a 168 gain in the prior month nonrevolving credit typically auto and student loans rose 44 down from a 81 growth rate in the prior month this category of credit is much less volatile the data does not include mortgage loans which is the largest category of household debt big picture consumer credit has averaged a gain of 30 billion per month for the first seven months of the year households are relying more on debt to finance purchases in the face of high inflation economists said some economists are worried about the sharp and swift rise in debt in may the fed said that indicators of household vulnerabilities including the householdcredittogdp ratio as well as mortgage auto and credit card delinquencies “were at the bottom range of the levels observed over the past 20 years”