In 2023, U.S. credit card debt still topped $1.05 trillion, yet the cost of carrying it keeps getting expensive with an average APR of 22.98% as of December 2023: July 2026. At the same time, late fees averaged $41.77 per missed payment, while card fraud losses reached $11.3 billion for card not present transactions and the broader reported losses hit $24.6 billion. The mix of household behavior, issuer revenue, and fraud patterns makes the data far more revealing than a simple balance count.
Key Takeaways
- The Federal Reserve’s G.19 data show revolving consumer credit (credit cards) exceeded $1.0 trillion in 2023
- Credit card interest income generated $144.4 billion by commercial banks in 2021
- The average merchant credit card processing effective rate (interchange+fees) was 2.24% in 2023 (industry benchmarking)
- Average U.S. credit card APR was 22.98% as of December 2023: July 2026 (U.S. average, all card types)
- As of 2024, the average credit card late fee was $41.77 per late payment (U.S.)
- 0% intro APR offers were available on 37% of balance transfer cards analyzed in 2024 (U.S.)
- In the U.S., 65% of cardholders used credit cards at least monthly in 2023 (survey estimate)
- In the U.S., 74% of consumers say their credit cards help them manage everyday expenses (survey estimate)
- In 2022, 61% of U.S. consumers reported having at least one credit card (Federal Reserve report)
- The global credit card market is expected to grow at a CAGR of 8.7% from 2024 to 2030 (forecast)
- In 2021, 6.9% of U.S. households were underbanked (FDIC survey estimate)
- In the U.S., fraud losses from card-not-present transactions were $11.3 billion in 2023 (card fraud industry data)
- $24.6 billion in reported fraud losses were recorded in 2023 in the U.S. (IC3 report)
- Card fraud losses of $11.8 billion were reported in the 2022 U.S. internet crime report (IC3 report)
- The U.S. household credit card debt balance was $1.05 trillion in January 2024 (revolving credit series)
In 2023 US credit cards topped $1 trillion in revolving balances, with high APRs and fees driving billions in interest and fraud losses.
Related reading
01 · Category
Risk & Fraud6 stats
01
In the U.S., fraud losses from card-not-present transactions were $11.3 billion in 2023 (card fraud industry data)
02
$24.6 billion in reported fraud losses were recorded in 2023 in the U.S. (IC3 report)
03
Card fraud losses of $11.8 billion were reported in the 2022 U.S. internet crime report (IC3 report)
04
In 2023, 21% of fraud losses were attributed to synthetic identity fraud (industry estimate)
05
$21.7 billion in credit card refunds/chargebacks were processed in 2023 (chargebacks industry estimate)
06
As of 2023, U.S. credit card fraud accounted for 55% of card payment fraud cases (industry estimate)
Interpretation
Risk & Fraud Interpretation
In Risk and Fraud for credit cards, the U.S. saw $11.3 billion in card-not-present losses in 2023 and reported $24.6 billion in total fraud losses, showing that digital and identity-driven attacks are a major and growing problem where synthetic identity fraud made up 21% of losses.
02 · Category
Revenue & Economics3 stats
01
The Federal Reserve’s G.19 data show revolving consumer credit (credit cards) exceeded $1.0 trillion in 2023
02
Credit card interest income generated $144.4 billion by commercial banks in 2021
03
The average merchant credit card processing effective rate (interchange+fees) was 2.24% in 2023 (industry benchmarking)
Interpretation
Revenue & Economics Interpretation
In Revenue and Economics, credit cards remain a major revenue engine as revolving consumer credit topped $1.0 trillion in 2023 and commercial bank credit card interest income reached $144.4 billion in 2021, while the average merchant processing effective rate held around 2.24% in 2023.
03 · Category
Pricing & Fees3 stats
01
Average U.S. credit card APR was 22.98% as of December 2023 (U.S. average, all card types)
02
As of 2024, the average credit card late fee was $41.77per late payment (U.S.)
03
0% intro APR offers were available on 37% of balance transfer cards analyzed in 2024 (U.S.)
Interpretation
Pricing & Fees Interpretation
In the Pricing and Fees space, credit card costs remain high with a 22.98% average APR as of December 2023 and a $41.77 average late fee in 2024, while the availability of 0% intro APR balance transfers covers only 37% of analyzed offers.
More related reading
04 · Category
Usage & Adoption3 stats
01
In the U.S., 65% of cardholders used credit cards at least monthly in 2023 (survey estimate)
02
In the U.S., 74% of consumers say their credit cards help them manage everyday expenses (survey estimate)
03
In 2022, 61% of U.S. consumers reported having at least one credit card (Federal Reserve report)
Interpretation
Usage & Adoption Interpretation
For Usage and Adoption, the data shows broad credit card engagement in the U.S., with 61% of consumers holding at least one card in 2022 and 65% of cardholders using theirs at least monthly in 2023, while 74% say credit cards help manage everyday expenses.
05 · Category
Cost Analysis3 stats
01
Late fees accounted for about $12per $100 of credit card revenue for issuers in 2023
02
Credit card APRs were highest for subprime segments at 28.5% average in 2024 (U.S.)
03
Overdraft/penalty fees were $11.9 billion across consumer credit products in 2023 (U.S.)
Interpretation
Cost Analysis Interpretation
In 2023 and 2024, the cost burden from credit card pricing and fees is clear, with late fees averaging about $12 per $100 of revenue, overdraft and penalty fees totaling $11.9 billion in 2023, and subprime cardholders facing APRs as high as 28.5% in 2024.
06 · Category
Industry Overview6 stats
01
The global credit card market is expected to grow at a CAGR of 8.7% from 2024 to 2030 (forecast)
02
In 2021, 6.9% of U.S. households were underbanked (FDIC survey estimate)
03
Debt service payments (interest and principal) were 13.8% of household income for U.S. credit cards in 2023
04
Synthetic identity fraud represented 21% of U.S. fraud losses involving new accounts in 2023
05
The U.S. household credit card debt balance was $1.05 trillion in January 2024 (revolving credit series)
06
U.S. credit card rewards redemptions totaled $87.5 billion in 2023
Interpretation
Industry Overview Interpretation
The industry outlook for credit cards looks strong and increasingly competitive, with the global market projected to grow at an 8.7% CAGR from 2024 to 2030 while U.S. households carried $1.05 trillion in January 2024 revolving credit and paid 13.8% of household income toward 2023 credit card debt service.
report visual · Key figures
U.S. credit card fraud losses: 2022 to 2023
Card-not-present and total reported fraud losses remained elevated from 2022 to 2023 in the U.S.
$11.8 billion
Card fraud losses of $11.8 billion were reported in the 2022 U.S. internet crime report (IC3 report)
$11.3 billion
In the U.S., fraud losses from card-not-present transactions were $11.3 billion in 2023 (card fraud industry data)
$24.6 billion
$24.6 billion in reported fraud losses were recorded in 2023 in the U.S. (IC3 report)
source-verifiedic3.gov · fbi.gov2023
Reference
Cite This Report
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APA
Marie Larsen. (2026, February 13). Credit Card Statistics. Gitnux. https://gitnux.org/credit-card-statistics
MLA
Marie Larsen. "Credit Card Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/credit-card-statistics.
Chicago
Marie Larsen. 2026. "Credit Card Statistics." Gitnux. https://gitnux.org/credit-card-statistics.
Sources & references
24 datasets cited across this report · attribution is report-level
+5 additional datasets cited (not shown individually)