Inflation Alert! In 2022, consumer credit increased 7.8 percent, with revolving & nonrevolving credit increasing 14.8 percent & 5.6 percent, respectively. During the fourth quarter, consumer credit increased at a seasonally adjusted annual rate of 6.5%
Source: https://www.federalreserve.gov/releases/g19/current/default.htm
Examples of revolving credit: credit cards--is a type of credit that can be used repeatedly up to a certain limit as long as the account is open and payments are made on time.
Examples of non revolving credit: student loans,