53 Illuminating Credit Card Usage Statistics (2025)

Cooperation is at the heart of the intertwined relationships among consumers, merchants, credit card issuers, and the networks supporting them.

Consumers drive digital transformation in financial services by demanding greater convenience and flexibility. Merchants adapt to consumer demand by expanding how they accept payments.

Issuers compete for business by creating more effective and lucrative consumer incentives and better financial management tools. Networks look for ways to streamline transactions and costs for greater effectiveness.

Together, credit card stakeholders drive innovation, growth, and progress. This list of illuminating credit card usage statistics will help you understand how credit cards define and extend the financial ecosystem.

1. FICO is a company that provides popular credit-scoring models to U.S. credit reporting agencies, including Experian. According to 2024 Experian data, the average FICO credit score among American cardholders was 715, a record high.¹

2. A 2023 article reported that American consumers hold an average of 3.9 credit cards. That number was down from 4.15 per person in 2017, but card ownership has increased since the COVID-19 pandemic.²

3. Eight in 10 American consumers report they have a rewards credit card, and more than 9 in 10 say they value it.³

4. Total U.S. credit card balances stand at $1.18 trillion in the latest Federal Reserve Household Debt and Credit Report. That’s actually down $29 billion from the previous quarter but up 6.1% year over year.⁴

5. Americans and Canadians use a credit or debit card to make about 65% of total consumer payments.⁵

6. In March 2025, the median average credit card interest rate was 24.20%.⁶

7. The average credit card debt per borrower in Q4 2024 was $6,580, according to a survey by the TransUnion credit reporting agency.⁷

8. “Maxed-out” credit cards (near or at their credit limit) are a problem for consumers of all ages, but more so for younger cardholders, including 15% of Gen Z members and 12.1% of millennials. Only 9.5% of Gen X members and 4.8% of baby boomers report maxed-out cards.⁸

9. U.S. consumers use cash to transact in brick-and-mortar stores only 12% of the time. Most (81%) prefer to pay with cards.⁹

10. Credit card delinquency rates among younger and lower-income cardholders are increasing. In the United States, Q4 2024 delinquency rates were up by 14% year over year.¹⁰

11. The United States isn’t the most credit card-centric nation. The countries with the highest percentage of credit card users are Canada, Israel, and Iceland, each with ownership rates higher than 74%. A leading data gathering and visualization platform predicts Canada will remain the global leader in credit card penetration through 2029.¹¹

12. Card issuers — mainly banks and financial technology companies — are distinct from card networks like Visa and Mastercard. A total of 83 U.S. companies issue credit cards, and 8,332 process card transactions and money transfers.¹²

13. The credit card utilization rate for all American cardholders was 20.7% as of March 2025, down from 21.1% the previous year.¹³

14. Debit cards were the preferred payment method for every demographic group assessed in this 2025 survey. Nearly three-quarters (74%) of millennials said they preferred debit cards over all other forms of payment. That figure was 69% for Gen X members and 68% for baby boomers and Gen Z members.¹⁴

15. Worldwide, consumers use credit and debit cards to execute about 25% of total payments. Leading the pack in this 2025 global survey are digital wallets at about 50%. Only about 3% use cash and 1% use checks.⁵

16. Younger consumers are generally more receptive to using alternative payment methods. While less than half (48%) of all consumers say they’re open to using debit-based Buy Now, Pay Later services, that figure increases to 54% for Gen Z members.¹⁴

17. Research from Capital One pegs the purchase volume of the American credit card industry at $5.82 trillion and projects it will increase to $6.33 trillion by 2026.¹²

18. The aggregate limit for American credit cards (the total of all credit limits added together) increased by $77 billion (1.5%) to $5.16 trillion.⁴

19. Nearly half (43%) of American consumers currently have credit card debt, according to a 2025 survey.¹⁴

20. Compared to figures from 2021, baby boomers, Gen X members, and millennials logged a higher Equifax “Ability to Pay” score in Q4 2024 while Gen Z members lost ground by roughly 3%. The score predicts a consumer’s likelihood of meeting future payment obligations.¹⁰

21. Most Americans live with at least one adult who has a credit card. Less than 25% don’t.⁹

22. Most U.S. credit card holders (64%) have credit scores above 720.¹²

23. As of Q2 2025, the total U.S. credit card debt of $1.18 trillion was only 6% of the total debt balance in the U.S. economy, which stood at $18.2 trillion.⁴

24. By a 5 to 1 margin, American consumers say retailers (who benefit from offering consumers the option to use cards) should pay the infrastructure costs associated with maintaining and growing the system.³

25. The average credit line for new card accounts is $5,702.⁷

26. Almost 20% of Gen Z credit accounts are 60+ days past due as of Q4 2024. Delinquency rates for Gen Z borrowers have increased more than any other generational group.¹⁰

27. The average FICO credit score for American consumers is 715. In 2024, only six U.S. states had average scores under 700: Alabama (692), Arkansas (695), Georgia (695), Louisiana (690), Mississippi (680), Oklahoma (696), and Texas (695).¹

28. Credit card debt among U.S. consumers has risen to new heights, but the rate of new account increases is slowing. Originations declined by 4.8% year over year in Q3 2024, marking six consecutive quarters of decline.⁷

29. All told, 40% of American consumers say they prefer to use debit cards over all other forms of payment. The top reasons for choosing debit cards include simplicity (47%), security (36%), and accessibility (35%).¹⁴

30. While 10.34% of credit card accounts held by American consumers aged 18-29 were seriously delinquent, only 5.57% of accounts held by consumers aged at least 70 shared that status.⁴

31. According to a 2024 report, cumulative daily credit card transactions in the U.S. numbered 151.5 million.¹²

32. Americans held 576.9 million distinct credit card accounts as of March 2025, topping the figure from the previous year by 5.3%.¹³

33. Americans don’t like to see retailers and restaurateurs charge an additional fee to use a credit card. Instead, they prefer vendors to hide credit card fees, with 7 in 10 reporting they’d rather shop at a different retailer or dine at a different restaurant rather than pay a small usage fee.³

34. Credit card delinquency is an increasing problem. The latest Federal Reserve Household Debt and Credit Report reported an annualized credit card delinquency rate of 4.3%.⁴

35. Americans like rewarding others (and themselves) during the end-of-year holiday period. Credit card utilization rates for American consumers generally decline in the first quarter of each year after increasing during the holiday period the previous year.¹⁰

36. Only 26% of Americans say they’ve never had credit card debt.¹⁴

37. Only about 13% of U.S. cardholders fall into the subprime and deep subprime credit score categories, signifying a credit score below 580 that locks consumers out of all but the highest-cost credit.¹²

38. The nationwide aggregate credit card utilization rate was approximately 23% in 2024 Fed data.⁸

39. As of 2025, about 90% of North American consumers set up their digital wallets to draw on credit cards for payments.⁵

40. More than two-thirds (68%) of Gen Z members said they experience a sense of anxiety or stress when thinking about their credit card bills.¹⁴

41. More than half of younger credit card holders (51% of millennials and 50% of Gen Z members) say they sometimes don’t pay their bills on time. Only 33% of baby boomers say the same.¹⁴

42. TransUnion measured 561.5 million active credit cards in a 2024 survey.⁷ On average, American consumers hold four credit cards and make 205 credit card transactions per year.¹²

43. The percentage of American consumers who prefer credit cards over all other forms of payment increases with age. A 2025 survey revealed that 65% of baby boomers, 49% of Gen X members, 47% of millennials, and only 35% of Gen Z members favored credit cards.¹⁴

44. More than half of credit card holders (52%) use less than 20% of their available credit.⁸

45. Check writing is a thing of the past. Americans write one paper check per year on average as of 2025, vastly preferring to transact via digital wallets and credit cards. The check-writing figure was already down to three by 2016.⁵

46. Credit card utilization rates have consistently hovered over 20% for more than a year and are now higher than they were before the COVID-19 pandemic.¹⁰

47. About 24% of U.S. credit card holders are in the prime and near-prime categories, with credit scores between 620 and 719.¹²

48. The practice of making digital wallet payments via QR codes is digging into market share for consumer credit card transactions. More than 80 million Americans used a QR code to make a payment in 2022; survey data projected that number to grow to 99.5 million by 2025.⁵

49. Most Americans (82%) consider credit cards financially dangerous, and 28% say they have a more negative attitude toward plastic than they did a year prior.¹⁴

50. Americans living in lower-income credit areas are more likely to “max out” their credit cards (meaning reaching or exceeding their credit limit) than those living in wealthier neighborhoods. Only 13.6% of cardholders in the upper economic quartiles reported running up against their limit. That figure was 22.5% for cardholders in the lower quartiles.⁸

51. The average number of credit cards per consumer tends to be higher in more populous states. Alaska, South Dakota, Vermont, and Wyoming have the fewest cards per consumer (about 3.3). Connecticut, Delaware, Florida, New Jersey, and Rhode Island have the most cards per consumer (4.2 or higher). New Jersey has the most, at 4.5.²

52. A substantial percentage of U.S. credit card debt flows into serious delinquency (90 or more days past due). The latest Federal Reserve Household Debt and Credit Report noted that 12.31% of total credit card debt was in serious delinquency.⁴

53. Fears of inflation and turbulence dog American consumer sentiment. In a survey from October 2024, 78% of U.S. credit card holders and other borrowers said they experienced a slight or significant increase in monthly bills over the past six months.¹

Today, credit cards (and digital wallets) are so common that it’s challenging to remember how we managed without them.

They offer levels of speed, convenience, flexibility, and security that cash can’t match. Paper money and coins are disappearing as a result.

Consult these credit card usage statistics for insights into the impressive global impact of credit cards.

¹ https://www.experian.com/blogs/ask-experian/consumer-credit-review
² https://www.experian.com/blogs/ask-experian/average-number-of-credit-cards-a-person-has
³ https://www.aba.com/news-research/analysis-guides/consumer-survey-policy-issues-spring
⁴ https://www.newyorkfed.org/microeconomics/hhdc.html
⁵ https://www.clearlypayments.com/blog/what-are-the-most-popular-payment-methods-in-2025
⁶ https://www.investopedia.com/average-credit-card-interest-rate-5076674
⁷ https://newsroom.transunion.com/q4-2024-ciir
⁸ https://libertystreeteconomics.newyorkfed.org/2024/05/delinquency-is-increasingly-in-the-cards-for-maxed-out-borrowers
⁹ https://capitaloneshopping.com/research/cash-vs-credit-card-spending-statistics
¹⁰ https://investor.equifax.com/news-events/press-releases/detail/1350/equifax-releases-2024-global-consumer-credit-trends-report
¹¹ https://www.statista.com/topics/8212/credit-cards-worldwide
¹² https://capitaloneshopping.com/research/credit-card-industry-statistics
¹³ https://www.equifax.com/newsroom/all-news/-/story/march-2025-u-s-national-consumer-credit-trends-report
¹⁴ https://cash.app/press/why-credit-cards-give-gen-z-the-ick-press-release