Consumer credit increased by $16.0 billion in October to $3.512 trillion, the Federal Reserve reported Monday.
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In September, consumer credit rose an revised $28.6 billion to $3.496 trillion, first reported as a $28.9 billion gain to $3.499 trillion.
Economists polled by Thomson Reuters predicted a $20.0 billion increase in the month.
Revolving credit outstanding in October edged up to $924.6 billion from $923.4 billion the previous month.
Non-revolving credit rose to $2.589 trillion from $2.573 trillion.
Revolving credit includes credit card debt. Non-revolving debt includes automobile loans, loans for mobile homes, education, boats, trailers, or vacations.
