NEW YORK (LowCards.com) — Consumers continue to be very cautious with their credit cards.

Revolving balances on credit cards declined for the third straight month in August, according to the latest Consumer Credit Report by the Federal Reserve. Balances have declined by more than $6 billion, to $848.9 billion during the past three months.

Revolving credit, the majority of which is credit card debt, declined $883 million in August, an annual rate of 1.2%. This follows decreases of 2.6% in July and 5.2% in June.

Consumers are not averse to borrowing, though. Nonrevolving debt, made up primarily of student and auto loans, increased in August at an annual rate of 8%, or $14.5 billion.