Consumer borrowing decreased by $3.54 billion in October to $2.578 trillion, the Federal Reserve reported Friday.
Thomson Reuters had projected a $2 billion rise in credit.
The September increase was revised to a $6.73 billion gain from the $6.86 billion jump previously reported.
Revolving credit fell $181 million to $976.1 billion. Revolving debt is made up of credit and charge cards.
Non-revolving credit declined $3.35 billion to $1.602 trillion. Non-revolving debt includes loans for automobiles, mobile homes, education, boats, trailers, or vacations.