The balance owed on credit cards in the United States in 2014 was $880 billion. When consumers pay off this balance in full,

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Paying off credit card balances involves transferring money from one type of account (e.g., checking accounts, which are part of M1) to another (the credit card company's account). This action does not change the total amount of money in the economy; it merely reallocates existing funds. Therefore, neither M1 nor M2, which include broader forms of money, will change in total amount.

The Balance Owed on Credit Cards in the United States