Spending & Earning

US Card Spending Rises Most Since Early 2024, BofA Data Show

A customer inserts a card into a credit card terminal at a store in Burbank, California. — A customer inserts a card into a credit card terminal at a store in Burbank, California.
Photographer: Patrick T. Fallon/Bloomberg

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By Vince Golle

November 12, 2025 at 4:45 PM UTC

US credit and debit-card spending climbed in October from a year earlier by the most since early 2024, reflecting strong demand from higher-income households as well as price increases, according to the Bank of America Institute.

Spending per household rose 2.4% last month on an annual basis, according to the study, based on Bank of America Corp. aggregated card data. Compared with September, card spending rose 0.3%, the fifth straight monthly increase.