Consumer debt saw its biggest growth in a decade in November, according to new data from the Federal Reserve, as consumers headed into the holidays ready to spend.
The report showed an 8.5 percent rise in revolving debt as more consumers pulled out their cards. Revolving debt, which is made up almost entirely of credit card debt. Revolving debt, which is made up almost entirely of credit card debt, rose by more than $5 billion in November to $798.3 billion. That jump was the largest seen since February 2008, in terms of percentages.
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