GITNUXREPORT 2025

Credit Card Industry Statistics

Globally, credit card usage reaches 1.1 billion, fueling trillion-dollar transactions.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

Our Commitment to Accuracy

Rigorous fact-checking • Reputable sources • Regular updatesLearn more

Statistic 1

As of 2023, there are approximately 1.1 billion credit cards in circulation worldwide.

Statistic 2

The United States has over 430 million credit card accounts.

Statistic 3

The average U.S. household carries 3.8 credit cards.

Statistic 4

Over 55% of Americans use at least one credit card for everyday purchases.

Statistic 5

The percentage of Americans who own at least one credit card has been stable at roughly 75% over the past five years.

Statistic 6

25% of credit card users in the U.S. have at least one store-branded credit card.

Statistic 7

The average credit cardholder has a credit utilization ratio of about 33%, impacting their credit score.

Statistic 8

In 2022, over 60 million Americans held subprime credit cards.

Statistic 9

The total number of credit cards issued in China surpassed 900 million in 2023.

Statistic 10

The average credit limit on U.S. credit cards is approximately $8,000.

Statistic 11

About 30% of consumers report that they have received a pre-approved credit card offer in the past month.

Statistic 12

The number of new credit card accounts opened in the US decreased slightly in 2022, by about 2% compared to the previous year.

Statistic 13

Approximately 25% of credit card users have more than 5 credit cards.

Statistic 14

The average credit card debt per U.S. household with debt is about $6,300.

Statistic 15

Approximately 70% of credit card holders pay their balances in full each month.

Statistic 16

The typical interest rate charged on credit cards in the US is around 20.5% as of 2023.

Statistic 17

35% of U.S. consumers with credit cards carry a balance from month to month.

Statistic 18

The average rewards earning rate on U.S. credit cards varies from 1% to 5%, depending on the card.

Statistic 19

In 2022, the number of American credit card accounts with active rewards programs exceeded 150 million.

Statistic 20

The average duration for which Americans keep their credit cards has decreased to about 3 years.

Statistic 21

The average cashback reward rate on U.S. credit cards is around 1-2%.

Statistic 22

Over 80% of new credit card offers in 2023 are for rewards programs.

Statistic 23

The number of defaults on credit card payments in the US fell by 10% in 2022.

Statistic 24

The majority of credit card charge-offs in the US happen during economic downturns, notably in 2020 and 2022.

Statistic 25

45% of consumers in the US report that they have been target of credit card fraud.

Statistic 26

The global credit card fraud losses were estimated at $28.65 billion in 2022.

Statistic 27

About 90% of credit card fraud in the US is due to card-not-present fraud.

Statistic 28

Credit card fraud detection technology increased fraud prevention effectiveness by an estimated 35% in 2022.

Statistic 29

The majority of credit card fraud occurs via online transactions rather than in-person.

Statistic 30

Approximately 15% of credit card users have experienced identity theft resulting from a data breach.

Statistic 31

The U.S. credit card market revenue was valued at approximately $100 billion in 2022.

Statistic 32

Americans paid over $108 billion in credit card late fees in 2022.

Statistic 33

The average gift card load value in the US was $70 in 2023.

Statistic 34

The global mobile credit card payment volume is projected to reach $8 trillion by 2025.

Statistic 35

The total value of credit card cash advances in the US was over $50 billion in 2022.

Statistic 36

The average annual fee for premium credit cards in the US is around $550.

Statistic 37

The global credit card issuing market is expected to grow at a CAGR of around 6% from 2023 to 2028.

Statistic 38

In 2022, global credit card transaction volume reached approximately $44 trillion.

Statistic 39

In 2022, about 50% of credit card transactions in the U.S. were made via contactless payments.

Statistic 40

Approximately 40% of credit card holders have experienced a declined transaction due to insufficient funds.

Statistic 41

The total number of credit card transactions in the US was about 44 billion in 2022.

Statistic 42

Approximately 80% of credit card transactions in the UK are contactless.

Statistic 43

Credit cards account for roughly 25% of total retail sales in the U.S.

Statistic 44

The number of contactless credit card transactions in Canada increased by 45% in 2022.

Statistic 45

The majority of credit card users in Japan prefer using their cards for everyday purchases, emphasizing convenience.

Statistic 46

The overall share of digital payment transactions, including credit cards, is projected to hit 89% worldwide by 2024.

Statistic 47

Approximately 60% of consumers prefer to use credit cards over cash for online shopping.

Statistic 48

About 40% of U.S. credit card users utilize digital wallets like Apple Pay or Google Pay for transactions.

Statistic 49

Approximately 65% of global credit card transaction volume occurs in North America and Asia-Pacific regions.

Statistic 50

The percentage of Millennials using credit cards for online shopping exceeds 70%.

Slide 1 of 50

Sources

Our Reports have been cited by:

Trust Badges - Publications that have cited our reports

Key Highlights

As of 2023, there are approximately 1.1 billion credit cards in circulation worldwide.
The United States has over 430 million credit card accounts.
The average U.S. household carries 3.8 credit cards.
In 2022, global credit card transaction volume reached approximately $44 trillion.
The U.S. credit card market revenue was valued at approximately $100 billion in 2022.
Over 55% of Americans use at least one credit card for everyday purchases.
45% of consumers in the US report that they have been target of credit card fraud.
The average credit card debt per U.S. household with debt is about $6,300.
Approximately 70% of credit card holders pay their balances in full each month.
The typical interest rate charged on credit cards in the US is around 20.5% as of 2023.
The global credit card fraud losses were estimated at $28.65 billion in 2022.
The percentage of Americans who own at least one credit card has been stable at roughly 75% over the past five years.
In 2022, about 50% of credit card transactions in the U.S. were made via contactless payments.

With over a billion credit cards in circulation worldwide and U.S. consumers carrying nearly four on average, the credit card industry continues to evolve as it drives global transactions worth trillions while facing rising challenges like fraud, debt, and shifting consumer preferences.

Consumer Credit Usage and Ownership

As of 2023, there are approximately 1.1 billion credit cards in circulation worldwide.
The United States has over 430 million credit card accounts.
The average U.S. household carries 3.8 credit cards.
Over 55% of Americans use at least one credit card for everyday purchases.
The percentage of Americans who own at least one credit card has been stable at roughly 75% over the past five years.
25% of credit card users in the U.S. have at least one store-branded credit card.
The average credit cardholder has a credit utilization ratio of about 33%, impacting their credit score.
In 2022, over 60 million Americans held subprime credit cards.
The total number of credit cards issued in China surpassed 900 million in 2023.
The average credit limit on U.S. credit cards is approximately $8,000.
About 30% of consumers report that they have received a pre-approved credit card offer in the past month.
The number of new credit card accounts opened in the US decreased slightly in 2022, by about 2% compared to the previous year.
Approximately 25% of credit card users have more than 5 credit cards.

Consumer Credit Usage and Ownership Interpretation

With over a billion credit cards globally and Americans averaging nearly four per household, it's clear that while credit can be a useful financial tool, the persistent high utilization ratios and subprime holdings suggest many are juggling debt in a high-stakes game with pre-approved offers serving as both invitation and trap.

Debt, Rewards, and Consumer Behavior

The average credit card debt per U.S. household with debt is about $6,300.
Approximately 70% of credit card holders pay their balances in full each month.
The typical interest rate charged on credit cards in the US is around 20.5% as of 2023.
35% of U.S. consumers with credit cards carry a balance from month to month.
The average rewards earning rate on U.S. credit cards varies from 1% to 5%, depending on the card.
In 2022, the number of American credit card accounts with active rewards programs exceeded 150 million.
The average duration for which Americans keep their credit cards has decreased to about 3 years.
The average cashback reward rate on U.S. credit cards is around 1-2%.
Over 80% of new credit card offers in 2023 are for rewards programs.
The number of defaults on credit card payments in the US fell by 10% in 2022.
The majority of credit card charge-offs in the US happen during economic downturns, notably in 2020 and 2022.

Debt, Rewards, and Consumer Behavior Interpretation

While most Americans swipe for rewards and pay in full, the 20.5% interest rate and a substantial average debt of $6,300 serve as a stark reminder that the true cost of borrowing can overshadow the allure of cashback and points—especially when financial storms hit and defaults decline only in downturns.

Fraud, Security, and Detection

45% of consumers in the US report that they have been target of credit card fraud.
The global credit card fraud losses were estimated at $28.65 billion in 2022.
About 90% of credit card fraud in the US is due to card-not-present fraud.
Credit card fraud detection technology increased fraud prevention effectiveness by an estimated 35% in 2022.
The majority of credit card fraud occurs via online transactions rather than in-person.
Approximately 15% of credit card users have experienced identity theft resulting from a data breach.

Fraud, Security, and Detection Interpretation

With nearly half of US consumers targeted by credit card fraud, and online transactions fueling the 28.65 billion-dollar global loss—amidst a 35% boost in detection tech—it's clear that in the digital age, safeguarding our wallets is more critical than ever, especially as data breaches threaten 1 in 7 cardholders with identity theft.

Market Size and Revenue

The U.S. credit card market revenue was valued at approximately $100 billion in 2022.
Americans paid over $108 billion in credit card late fees in 2022.
The average gift card load value in the US was $70 in 2023.
The global mobile credit card payment volume is projected to reach $8 trillion by 2025.
The total value of credit card cash advances in the US was over $50 billion in 2022.
The average annual fee for premium credit cards in the US is around $550.
The global credit card issuing market is expected to grow at a CAGR of around 6% from 2023 to 2028.

Market Size and Revenue Interpretation

With a $100 billion market, $108 billion in late fees, and an expected global card payment volume of $8 trillion by 2025, Americans' love-hate relationship with credit cards continues to fuel a financial ecosystem where convenience often comes with a substantial price tag.

Transaction Volume and Payment Methods

In 2022, global credit card transaction volume reached approximately $44 trillion.
In 2022, about 50% of credit card transactions in the U.S. were made via contactless payments.
Approximately 40% of credit card holders have experienced a declined transaction due to insufficient funds.
The total number of credit card transactions in the US was about 44 billion in 2022.
Approximately 80% of credit card transactions in the UK are contactless.
Credit cards account for roughly 25% of total retail sales in the U.S.
The number of contactless credit card transactions in Canada increased by 45% in 2022.
The majority of credit card users in Japan prefer using their cards for everyday purchases, emphasizing convenience.
The overall share of digital payment transactions, including credit cards, is projected to hit 89% worldwide by 2024.
Approximately 60% of consumers prefer to use credit cards over cash for online shopping.
About 40% of U.S. credit card users utilize digital wallets like Apple Pay or Google Pay for transactions.
Approximately 65% of global credit card transaction volume occurs in North America and Asia-Pacific regions.
The percentage of Millennials using credit cards for online shopping exceeds 70%.

Transaction Volume and Payment Methods Interpretation

With over $44 trillion transacted globally in 2022 and contactless payments dominating regions like the UK and Canada, the world seems to be increasingly favoring convenience and digital transactions—yet nearly half of U.S. credit card users still face the humble frustration of declining transactions, proving that while frictionless payments are on the rise, the human element remains.