The Federal Reserve said on Friday that consumer credit rose by $12 billion following a $20.3 billion surge in December, the Associated Press reported. The December number reflected the biggest increase in borrowing on credit cards in two decades. However, in January, credit card use fell by $3.04 billion following the revised gain of $11 billion in December. The category that includes auto loans and student loans increased $15.1 billion in January. That was up from a $9.2 billion gain in December and was the strongest increase since August.
