New Fed report says Americans are using credit cards at higher rates

UNITED STATES - Americans are putting more expenses on credit cards, according to a new report from the Federal Reserve.

The report found that credit card usage was higher than expected among Americans in July, with overall usage jumping 3.8%.

Revolving debt, which includes credit cards, increased by 9.7%. Non-revolving debt, such as mortgages and car loans, increased by 1.8%.

Higher credit card usage could indicate consumer optimism about the economy, but also may mean more Americans are having to rely on credit cards for expenses they would otherwise pay for outright.