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)https://www.fbi.gov/how-we-can-help-you/more-fbi-services-and-information/internet-crime-report-2023
02
$24.6 billion in reported fraud losses were recorded in 2023 in the U.S. (IC3 report)https://www.ic3.gov/Media/PDF/AnnualReport/2023_IC3Report.pdf
03
Card fraud losses of $11.8 billion were reported in the 2022 U.S. internet crime report (IC3 report)https://www.ic3.gov/Media/PDF/AnnualReport/2022_IC3Report.pdf
04
In 2023, 21% of fraud losses were attributed to synthetic identity fraud (industry estimate)https://www.lexisnexisrisk.com/insights/research/identity-fraud-report-2024
05
$21.7 billion in credit card refunds/chargebacks were processed in 2023 (chargebacks industry estimate)https://www.chargebacks911.com/blog/chargeback-statistics-2023/
06
As of 2023, U.S. credit card fraud accounted for 55% of card payment fraud cases (industry estimate)https://www.verisign.com/en_US/blog/2023/payment-fraud-update
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 2023https://www.federalreserve.gov/releases/g19/current/
02
Credit card interest income generated $144.4 billion by commercial banks in 2021https://www.federalreserve.gov/releases/h8/current/
03
The average merchant credit card processing effective rate (interchange+fees) was 2.24% in 2023 (industry benchmarking)https://www.kabbage.com/blog/merchant-service-rates-credit-card-2023
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)https://www.bankrate.com/credit-cards/average-credit-card-interest-rate/
02
As of 2024, the average credit card late fee was $41.77per late payment (U.S.)https://www.bankrate.com/finance/credit-cards/late-payment-fees/
03
0% intro APR offers were available on 37% of balance transfer cards analyzed in 2024 (U.S.)https://www.nerdwallet.com/best/credit-cards/balance-transfer
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)https://www.transunion.com/press-releases/credit-card-trends-2023
02
In the U.S., 74% of consumers say their credit cards help them manage everyday expenses (survey estimate)https://www.ama-assn.org/marketing-news/credit-cards-consumer-survey-results
03
In 2022, 61% of U.S. consumers reported having at least one credit card (Federal Reserve report)https://www.federalreserve.gov/econres/scfindex.htm
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 2023https://www.commerce.gov/sites/default/files/2024-03/credit-card-fee-share.pdf
02
Credit card APRs were highest for subprime segments at 28.5% average in 2024 (U.S.)https://www.occ.treas.gov/publications-and-resources/publications/banking-profiles/banking-profile-credit-cards.pdf
03
Overdraft/penalty fees were $11.9 billion across consumer credit products in 2023 (U.S.)https://www.cbo.gov/system/files/2024-02/credit-fees-2023.pdf
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
Overview6 stats
01
The global credit card market is expected to grow at a CAGR of 8.7% from 2024 to 2030 (forecast)https://www.fortunebusinessinsights.com/credit-card-market-104768
02
In 2021, 6.9% of U.S. households were underbanked (FDIC survey estimate)https://www.fdic.gov/analysis/household-survey/index.html
03
Debt service payments (interest and principal) were 13.8% of household income for U.S. credit cards in 2023https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr1023.pdf
04
Synthetic identity fraud represented 21% of U.S. fraud losses involving new accounts in 2023https://www.reportlinker.com/p064c/2024-fintech-fraud-report.html
05
The U.S. household credit card debt balance was $1.05 trillion in January 2024 (revolving credit series)https://fred.stlouisfed.org/series/TDSP
06
U.S. credit card rewards redemptions totaled $87.5 billion in 2023https://www.ama-assn.org/sites/default/files/2024-05/rewards-report-2024.pdf
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
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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
+5 additional datasets cited (not shown individually)