Credit cards play a central role in how Americans spend, borrow, earn rewards, and manage their finances. From everyday purchases to long-term credit building, understanding how credit cards are used across the country helps consumers make smarter financial decisions.
This in-depth guide brings together the most important credit card statistics, usage trends, and industry insights in the U.S., covering card ownership, spending behavior, debt levels, interest rates, fees, rewards, and approval trends. Whether you are new to credit or optimizing your current strategy, these insights offer valuable context for navigating today’s credit card landscape.
How Many Americans Have Credit Cards?
Credit card ownership is widespread in the United States. Recent consumer finance data shows that more than 190 million U.S. adults hold at least one credit card. That represents a strong majority of the adult population and confirms that credit cards remain one of the most common financial tools nationwide.
Credit Card Ownership by Age Group
- Adults 65 and older: Nearly 9 out of 10 carry at least one credit card
- Ages 25–64: Over 80% are credit card users
- Under age 25: Credit card usage has grown steadily, with nearly two-thirds now holding cards
This trend suggests that younger consumers are entering the credit system earlier, often using cards to build credit histories rather than relying solely on loans.
Credit Cards and Credit Scores: A Strong Correlation
Credit score tiers closely align with credit card ownership. Consumers with higher credit scores are far more likely to have active credit cards, while those with limited or poor credit histories are more likely to be without them.
- Super-prime borrowers (800+ scores): Nearly universal card ownership
- Prime and near-prime borrowers: High participation with moderate card counts
- Subprime and deep subprime consumers: Lower ownership, often limited to secured or starter cards
Individuals with thin or inactive credit files represent a significant portion of non-cardholders, highlighting the importance of responsible card use for long-term credit access.
How Many Credit Cards Are in Circulation?
There are hundreds of millions of credit card accounts currently open in the U.S. These fall into two main categories:
General-Purpose Credit Cards
- Usable anywhere Visa, Mastercard, Discover, or American Express is accepted
- Over 540 million active accounts
- Strong growth over the past decade
Store and Retail Credit Cards
- Restricted to specific brands or retailers
- Around 200 million active accounts
- Gradual decline as consumers favor flexible rewards cards
On average, Americans who use credit cards hold multiple cards, often combining rewards cards, backup cards, and store cards. Across the entire adult population, the average comes out to roughly three cards per person.
Credit Card Spending Trends in the U.S.
Annual credit card spending has grown dramatically, reaching trillions of dollars per year. Most of this growth is driven by general-purpose cards used for everyday purchases, travel, and online shopping.
Average Spending Patterns
- Cardholders charge thousands of dollars annually per card
- Higher credit scores generally correlate with higher spending limits and higher usage
- Store cards see significantly lower spending compared to general-purpose cards
The shift toward digital payments and e-commerce continues to push credit card usage higher year over year.
Average Credit Limits and Utilization
Credit limits vary widely depending on credit score and card type.
Typical Credit Limits
- General-purpose cards: Higher average limits
- Retail cards: Lower limits, often under a few thousand dollars
When looking at all cards combined, the average cardholder has access to tens of thousands of dollars in total credit.
Credit Utilization Matters
Credit utilization—the percentage of available credit being used—is a major credit score factor.
- Average utilization: Around 20%
- Excellent credit users: Often below 10%
- Lowest-score borrowers: Frequently above 80–90%
Lower utilization generally signals lower risk to lenders and supports higher credit scores.
Credit Card Debt in America
Not all credit card balances represent true debt. Many cardholders charge expenses monthly and pay in full. However, a significant portion of households carry revolving balances from month to month.
Key Debt Insights
- Hundreds of billions of dollars are carried as revolving credit card debt
- Among households with revolving balances, average debt exceeds $10,000
- Roughly 4 in 10 credit card users carry ongoing balances
Understanding the difference between transacting (paid monthly) and revolving balances is critical when assessing overall consumer debt.
Credit Card Payments and Minimum Payments
Payment behavior varies widely:
- Nearly half of cardholders pay their balance in full
- A meaningful percentage pay only the minimum required amount
- Lower credit scores are associated with higher reliance on minimum payments
The average minimum payment is typically around $100 for general-purpose cards and lower for store cards. Paying only the minimum significantly increases interest costs over time.
Average Credit Card Interest Rates
Interest rates on credit cards have climbed to multi-decade highs.
- Average APR on interest-bearing accounts: Above 22%
- Store cards often carry even higher rates
- Total annual interest paid by consumers exceeds $100 billion
Paying balances in full remains the most effective way to avoid interest entirely.
Credit Card Fees: Late Fees and Annual Fees
Credit card fees represent a major cost for consumers.
Common Fees
- Late payment fees: The largest contributor
- Annual fees: Increasingly common on rewards cards
- Other fees: Balance transfers, cash advances, foreign transactions
Late fees disproportionately affect borrowers with lower credit scores, who may incur multiple penalties per year.
Recent regulatory efforts have focused on limiting excessive late fees, although legal challenges continue.
Credit Card Rewards and Sign-Up Bonuses
Rewards programs are one of the biggest drivers of credit card adoption.
Rewards Snapshot
- Tens of billions of dollars earned annually in rewards
- Cash back remains the most popular option
- Travel rewards and points offer flexible redemption choices
On average, cardholders earn around 1.5–2 cents per dollar spent, not including premium perks like lounge access or travel protections.
Sign-up bonuses have grown more generous, often worth several hundred dollars for qualifying applicants.
Credit Card Applications and Approval Rates
Each year, Americans submit hundreds of millions of credit card applications.
Approval Trends
- General-purpose cards have lower approval rates than store cards
- Approval odds increase significantly with higher credit scores
- Consumers with lower scores tend to apply more often but face more rejections
Prequalification tools, secured cards, and starter products help improve access for credit-building applicants.
How Many Credit Card Companies Operate in the U.S.?
Thousands of financial institutions issue credit cards, but market share is highly concentrated.
- Top 10 issuers control more than 80% of the market
- Large banks dominate purchase volume
- Specialty issuers focus on store cards and niche markets
Largest Credit Card Issuers by Purchase Volume
Major players include:
- JPMorgan Chase
- American Express
- Citi
- Capital One
- Bank of America
These institutions handle hundreds of billions of dollars in annual card transactions.
Credit Card Customer Service Rankings
Customer experience varies widely by issuer. Annual satisfaction surveys consistently show:
- American Express ranking highest for customer service
- Credit unions and military-affiliated banks also performing well
- Large national banks delivering mixed experiences
Service quality often depends on card tier, account history, and support access.
Final Thoughts: What These Credit Card Statistics Mean for Consumers
Credit cards are deeply embedded in the U.S. financial system. Used responsibly, they offer convenience, rewards, fraud protection, and credit-building opportunities. Used poorly, they can lead to long-term debt and high interest costs.
Key takeaways:
- Most Americans use credit cards, often multiple
- Higher credit scores unlock better limits, rewards, and rates
- Paying in full and keeping utilization low are critical habits
- Rewards can be valuable, but fees and interest can outweigh benefits
Understanding the data behind credit cards empowers consumers to make smarter choices—whether applying for a first card, managing debt, or maximizing rewards.
