Credit Card Statistics (2025)
In this blog, we break down the latest credit card statistics to give you a clear picture of how Americans use their cards in 2025, including trends in usage, outstanding debt, issuer dominance, and digital adoption.
Whether you’re a curious consumer, a finance professional, or someone managing business expenses, these numbers offer valuable context for how credit is evolving today.
Number of Credit Card Accounts In The United States
As of Q1 2025, there are 631.39 Million credit card accounts in the United States, the highest ever recorded. The number of credit card accounts in the country has grown by over 50% in the past ten years.
45.5% of US citizens who participated in the survey said they opened at least one new account over the past year.
In 2024, accounts grew from 596.35 Million in Q1 to 617.41 Million by Q4. Similarly, 2023 saw steady growth, starting at 572.87 Million in Q1 and ending at 594.75 Million in Q4. Going back to 2022, the year began with 537.11 Million accounts and closed at 564.5 Million, showing consistent quarterly increases.
Even during the pandemic, credit card accounts remained stable. In 2020 and 2021, the numbers hovered around 500 Million.
| Year | Credit Card Accounts In the USA |
| 2015 | 424.35 Million |
| 2016 | 453.07 Million |
| 2017 | 468.76 Million |
| 2018 | 479.23 Million |
| 2019 | 507.94 Million |
| 2020 | 505.62 Million |
| 2021 | 531.54 Million |
| 2022 | 564.5 Million |
| 2023 | 594.75 Million |
| 2024 | 617.41 Million |
| 2025 | 631.39 Million |
Number of Credit Cards Circulating In The United States
As of 2025, over 827 Million credit cards are circulating in the United States. About 73% of Americans have a credit card by age 25, making credit cards the most common first credit experience for young adults.
When asked about the most common reason to get a credit card, most Americans said they use it to earn rewards. We will go through this point in detail in the later sections of this blog.
Source: The Nilson Report.
Top Reasons To Use Credit Cards
35% of people in the United States primarily use credit cards to earn rewards. 33% think that a credit card is safer to carry around than cash, and 28% use it to cover expenses they can’t afford.
Using credit cards to cover expenses that people can’t afford is one of the biggest reasons behind rising credit card debt in the U.S. When users carry balances from month to month, high interest rates make it harder to pay off. Over time, even small unpaid amounts can grow into large debts.
Let’s have a closer look at this issue in the section below.
Source: Forbes
Credit Cards And Their Usage in BNPL Among Ecommerce Shoppers
Buy Now Pay Later transactions in the United States stood at $133 Billion in 2024, up by 14% from the previous year, when transactions worth $116 Billion were recorded. The usage is estimated to increase steadily till 2029 to reach $206 Billion.
- Most of the BNPL transactions in Ecommerce are done via Credit Cards.
Credit Card Debt Of Americans Over The Years
Total U.S. credit card debt stands at $1.182 Trillion in the first quarter of 2025, it fell from an all-time high in Q4 2024 when the debt stood at $1.211 Trillion. While credit card debt fluctuated during the pandemic, it began to rise post-lockdowns as inflation took off steadily.
| Quarter | Credit Card Debt (USD) |
| Q1 2020 | $893 Billion |
| Q2 2020 | $817 Billion |
| Q3 2020 | $807 Billion |
| Q4 2020 | $819 Billion |
| Q1 2021 | $770 Billion |
| Q2 2021 | $787 Billion |
| Q3 2021 | $804 Billion |
| Q4 2021 | $856 Billion |
| Q1 2022 | $841 Billion |
| Q2 2022 | $887 Billion |
| Q3 2022 | $925 Billion |
| Q4 2022 | $986 Billion |
| Q1 2023 | $986 Billion |
| Q2 2023 | $1.03 Trillion |
| Q3 2023 | $1.07 Trillion |
| Q4 2023 | $1.12 Trillion |
| Q1 2024 | $1.11 Trillion |
| Q2 2024 | $1.14 Trillion |
| Q3 2024 | $1.16 Trillion |
| Q4 2024 | $1.21 Trillion |
| Q1 2025 | $1.18 Trillion |
Source: Statista
Credit Card Debt Of An Average American
As per the latest report by TransUnion, the credit card debt of an average American is $6,580 as of the fourth quarter of 2024. That’s a 3% increase from the previous year.
Here is a table showing the credit card debt of an average American over the years.
| Quarter-Year | Average Credit Card Debt |
| Q4 2024 | $6,580 |
| Q4 2023 | $6,360 |
| Q4 2022 | $5,805 |
| Q4 2021 | $5,139 |
Source: TransUnion.
American States With The Most Credit Card Debt
Alaska tops the list with the highest credit card debt, averaging $8,077 per user. Following closely were Florida at $7,861 and New Mexico at $7,605, both well above the national average. Connecticut and Idaho also made it to the top tier, each reporting over $7,500 in average credit card debt.
On the other hand, some states reported significantly lower figures. Kansas came in at the bottom with just $5,329, followed by Wisconsin at $5,370 and West Virginia at $5,427. These numbers are more than $2,000 below what top-ranking states reported, highlighting major regional disparities in credit card usage and repayment behavior. Louisiana and Missouri also fell into the lower end, with both states staying below the $5,600 mark.
Meanwhile, big population centers like California, Texas, and New York hovered around the middle of the range. California reported $7,080, Texas came in at $6,243, and New York was at $6,023. These figures may reflect a balance between high living costs and relatively controlled credit card spending.
| State | Average Credit Card Debt |
| Alabama | $6,074 |
| Alaska | $8,077 |
| Arizona | $6,800 |
| Arkansas | $5,826 |
| California | $7,080 |
| Colorado | $7,267 |
| Connecticut | $7,568 |
| Delaware | $6,841 |
| Florida | $7,861 |
| Georgia | $7,392 |
| Hawaii | $7,238 |
| Idaho | $7,560 |
| Illinois | $6,131 |
| Indiana | $6,726 |
| Iowa | $5,621 |
| Kansas | $5,329 |
| Kentucky | $6,082 |
| Louisiana | $5,399 |
| Maine | $6,359 |
| Maryland | $5,826 |
| Massachusetts | $7,492 |
| Michigan | $6,853 |
| Minnesota | $5,932 |
| Mississippi | $6,068 |
| Missouri | $5,553 |
| Montana | $6,042 |
| Nebraska | $6,122 |
| Nevada | $5,945 |
| New Hampshire | $7,308 |
| New Jersey | $6,692 |
| New Mexico | $7,605 |
| New York | $6,023 |
| North Carolina | $7,010 |
| North Dakota | $6,434 |
| Ohio | $5,991 |
| Oklahoma | $5,871 |
| Oregon | $6,291 |
| Pennsylvania | $6,199 |
| Rhode Island | $6,245 |
| South Carolina | $6,686 |
| South Dakota | $6,498 |
| Tennessee | $5,717 |
| Texas | $6,243 |
| Utah | $7,467 |
| Vermont | $6,532 |
| Virginia | $5,928 |
| Washington | $7,200 |
| Washington, D.C. | $6,975 |
| West Virginia | $5,427 |
| Wisconsin | $5,370 |
| Wyoming | $6,406 |
Source: Experian.
Share of Credit Card Payments
| Year | Cash | Check | Credit | Debit | ACH | Mobile Payment App | Other |
| 2016 | 31% | 7% | 18% | 27% | 10% | 1% | 6% |
| 2017 | 31% | 6% | 20% | 27% | 10% | 1% | 5% |
| 2018 | 26% | 5% | 23% | 28% | 11% | 1% | 6% |
| 2019 | 26% | 5% | 24% | 30% | 11% | 1% | 4% |
| 2020 | 19% | 7% | 27% | 28% | 12% | 2% | 5% |
| 2021 | 20% | 4% | 28% | 29% | 12% | 1% | 6% |
| 2022 | 18% | 4% | 31% | 29% | 13% | 1% | 4% |
| 2023 | 16% | 3% | 32% | 30% | 13% | 2% | 6% |
| 2024 | 14% | 3% | 35% | 30% | 13% | 2% | 5% |
According to the 2025 Diary of Consumer Payment Choice, the average number of monthly payments made by consumers reached a record high of 48 in October 2024, up from 46 in October 2023. This marks the highest level ever recorded. Most of this growth comes from increased credit card usage, both in-store and online.
Credit card usage in the United States has seen a steady and notable increase over the past nine years. In 2016, credit cards accounted for just 18% of all payment instruments.
The year 2020 marked a stronger shift toward credit cards, with their share increasing to 27%. This rise is linked to changing consumer behaviors during the pandemic, where contactless and digital payment methods became more common. In 2022, credit card usage jumped to 31%, indicating continued consumer preference for flexible, credit-based payments.
By 2023, credit cards made up 32% of all payments, and the upward trajectory carried into 2024, where they now hold the largest share at 35%. Over these nine years, credit card usage nearly doubled, growing by 17 percentage points.
Source: The Federal Reserve Financial Services.
Credit Card Market Share By Number Of Cards Circulated
There are currently 1.3 Billion Visa credit cards and 1.1 Billion Mastercard credit cards in circulation worldwide. Visa holds the largest share, representing 37% of all credit cards, while Mastercard accounts for 32%. In comparison, Discover and American Express have smaller shares, with 71.5 Million Discover cards and 141 Million American Express cards in use globally. American Express makes up 4% of all credit cards, and Discover accounts for 2%.
Source: Motley Fool Money.
Credit Card Market Share By Purchase Value and Brand
Visa leads the global credit card market in purchase volume, according to the Nilson Report for 2023. UnionPay holds the largest share worldwide with $6.9 Trillion in credit purchases, making up 35% of global volume. Visa follows closely with $6.3 Trillion, or 32%, while Mastercard accounts for $4 Trillion, representing 21% of the market. Other brands like American Express, JCB, and Discover hold smaller shares, with $1.7 Trillion (9%), $320 billion (2%), and $256 billion (1%), respectively. This data covers consumer, small business, and commercial credit cards worldwide.
| Card Brand | Purchase Volume | Market Share |
| UnionPay | 6.9 Trillion | 35% |
| Visa | 6.3 Trillion | 32% |
| Mastercard | 4 Trillion | 21% |
| American Express | 1.7 Trillion | 9% |
| JCB | 0.32 Trillion | 2% |
| Discover | 0.256 Trillion | 1% |
In the United States, the four major credit card brands—Visa, Mastercard, American Express, and Discover—dominate the purchase volume. Together, they totaled $5.8 Trillion in 2023. Visa leads the U.S. market with $3 Trillion in purchases, which is 52% of the total volume. Mastercard follows with $1.4 Trillion, holding 24%. American Express accounts for $1.1 Trillion, or 19%, while Discover makes up the remaining 5% with $0.3
| Card Brand | Purchase Volume | Market Share |
| Visa | 3 Trillion | 52% |
| Mastercard | 1.4 Trillion | 24% |
| American Express | 1.1 Trillion | 19% |
| Discover | 0.3 Trillion | 5% |
Source: The Motley Fool.
