Credit cards have become an essential part of American financial life. With over 631 million active accounts and $1.233 trillion in total debt, understanding credit card statistics is crucial for making informed financial decisions.
Whether you're curious about how your credit card habits compare to the average American or researching market trends, these 2025 statistics reveal everything you need to know about credit card usage, debt, and spending in America.
Key Takeaways
- 81% of American adults have at least one credit card
- Total US credit card debt reached $1.233 trillion in Q3 2025
- The average credit card debt per person is $6,580
- Americans have an average of 3.7 credit cards per person
- 46% of cardholders carry a balance from month to month
- The average credit card APR is 22.4%
- Chase is the largest issuer with $1.344 trillion in purchase volume
How Many People Use Credit Cards?
1. 81% of American adults have at least one credit card
According to the Federal Reserve, approximately 216.3 million US adults have a credit card account in their name. This is down from a high of 84% in 2021 but up 5 percentage points over the past decade.
2. There are 631 million active credit card accounts in the US
The number of active credit card accounts increased from 617 million in 2024 to 631 million in 2025, reflecting both population growth and increased card adoption, especially among younger consumers.
3. 84% of Baby Boomers have credit cards vs. 57% of Gen Z
Credit card ownership varies significantly by generation. Baby Boomers (ages 61-79) lead with 84% ownership, while Gen Z (ages 18-28) has the lowest rate at 57%, though this is expected to increase as they age.
| Generation | Credit Card Ownership | Avg. Cards per Person |
|---|---|---|
| Baby Boomers (61-79) | 84% | 3.5 |
| Gen X (45-60) | 72% | 4.3 |
| Millennials (29-44) | 72% | 3.5 |
| Gen Z (18-28) | 57% | 2.0 |
4. 97% of households earning $100K+ have credit cards
Credit card ownership correlates strongly with income. Nearly all high-income households have at least one credit card, while lower-income households are more likely to rely on debit cards or cash.
How Many Credit Cards Does the Average Person Have?
5. Americans have an average of 3.7 credit cards per person
The typical American wallet holds 3.7 active credit cards, down 10% from 4.1 cards a decade ago. This decline reflects consolidation and more strategic card usage among consumers.
6. Gen X has the most credit cards at 4.3 per person
Generation X consumers (ages 43-58) carry the most credit cards on average at 4.3, while Gen Z has the fewest at 2.0 cards per person. This reflects both life stage and credit history length.
Interesting Fact: New Jersey residents have the most credit cards per person (3.24), while Iowa has the fewest (2.42). This correlates with cost of living and average income levels.
7. 31% of Americans have only one credit card
Despite the average being 3.7 cards, nearly one-third of Americans keep it simple with just one card. Another 29% have two cards, 12% have three, and only 8% (21.4 million adults) have four or more.
What Is the Average Credit Card Debt in America?
8. Total US credit card debt is $1.233 trillion
According to the Federal Reserve Bank of New York, Americans' total credit card balance reached $1.233 trillion in Q3 2025 — the highest since tracking began in 1999. This is up from $1.209 trillion in Q2 2025.
9. The average credit card debt per person is $6,580
According to TransUnion Q4 2024 data, the average American has $6,580 in credit card debt. However, among those who carry a balance month-to-month, the average jumps to $7,321.
10. Average household credit card debt is $11,019
When measured by household rather than individual, the average credit card balance rises to $11,019. Adjusted for inflation, this is still below the record high of over $13,000 set at the end of 2007.
11. People in their 50s have the highest average debt at $9,200
According to Experian, Americans in their 50s carry the highest average credit card debt, while those 18-35 have the lowest at $4,070. Debt tends to peak during peak earning and spending years.
| Age Group | Average Credit Card Debt |
|---|---|
| 18-35 | $4,070 |
| 36-49 | $7,800 |
| 50-59 | $9,200 |
| 60-74 | $7,600 |
| 75+ | $3,990 |
What Percentage of Credit Card Holders Carry a Balance?
12. 46% of credit cardholders carry a balance
As of June 2025, 46% of American credit cardholders carry a balance from month to month. This is down slightly from 50% in June 2024, but still well above the 39% rate seen in December 2021.
13. 60% of debtors have carried a balance for at least one year
Among those carrying credit card debt, 60% have maintained that balance for at least a year — up from 53% in November 2024. Another 19% have carried debt for five years or more.
Warning: Carrying a credit card balance at the average 22.4% APR on a $6,580 balance would cost approximately $1,474 in interest per year. Always try to pay your balance in full.
What Is the Average Credit Card Interest Rate?
14. The average credit card APR is 22.4%
As of December 2025, the average interest rate among credit card offers is 22.4%. For cards actively accruing interest, the average APR is even higher at 22.83%.
15. Credit card interest rates hit a record 20.79% in August 2024
The highest average credit card interest rate in history was reached on August 14, 2024, at 20.79%. Despite Fed rate cuts totaling a full percentage point in 2024, credit card rates only dropped to 20.27% by year end.
16. Excellent credit holders get rates around 15-18%
Interest rates vary significantly by credit score. Those with excellent credit often secure rates of 15-18%, while subprime borrowers may face APRs in the high twenties, with penalty rates exceeding 29%.
How Much Do Americans Spend on Credit Cards?
17. Americans made $5.42 trillion in credit card purchases in 2024
Total credit card purchase volume reached $5.42 trillion out of $7.40 trillion in total retail spending in 2024. This represents approximately 70.6% of all retail transactions in the United States.
18. Credit cards account for 32% of all payment transactions
Credit and debit cards combined make up 62% of all payments in 2023, with credit cards alone accounting for 32%. This is up significantly from 18.18% in 2016, showing a clear shift away from cash.
19. Cash usage has dropped from 26% to 14% since 2019
According to a 2025 Federal Reserve study, cash usage has declined substantially from 26% of transactions in 2019 to just 14% in 2024, as consumers increasingly prefer cards and digital payments.
What Is the Credit Card Market Size?
20. The US credit card issuing market is worth $178.6 billion
The market size of credit card issuing in the US reached $178.6 billion in 2025, up 0.6% from $177.5 billion in 2024. The broader credit card payments market is valued at $187.45 billion.
21. Credit card purchase volume reached $5.92 trillion in 2024
The American credit card industry processed $5.92 trillion in purchases in 2024. Projections indicate the market will grow to $6.68 trillion by 2028, driven by continued adoption and digital payment trends.
Who Issues the Most Credit Cards?
22. Chase is the #1 credit card issuer with $1.344 trillion in purchase volume
For the sixth consecutive year, JP Morgan Chase topped the rankings as the largest credit card issuer. Chase processed $1.344 trillion in purchase volume in 2024 and has 197.4 million active cards.
| Rank | Issuer | Purchase Volume (2024) | Active Cards |
|---|---|---|---|
| 1 | Chase | $1.344 trillion | 197.4M |
| 2 | American Express | $1.168 trillion | — |
| 3 | Citi | $616 billion | 88.4M |
| 4 | Capital One | $610 billion | 116M |
| 5 | Bank of America | $502 billion | — |
23. The top 5 issuers control 69% of purchase volume
Chase, American Express, Citi, Capital One, and Bank of America together accounted for 69% of total US credit card purchase volume in the first half of 2024, demonstrating significant market concentration.
24. Visa processed $5.31 trillion in credit card transactions
By network, Visa dominates with $5.31 trillion in credit card transactions for FY 2024. Mastercard followed with $3.64 trillion. Together, these two networks handle the vast majority of credit card payments.
Credit Card Debt by State
25. Washington D.C. has the highest average credit card debt at $7,684
Residents of Washington D.C. carry the highest average credit card balances in the nation at $7,684. Alaska ($7,683) and Hawaii ($7,330) round out the top three, reflecting higher costs of living.
26. Wisconsin has the lowest average credit card debt at $5,206
Wisconsin residents carry the nation's lowest average credit card balance at $5,206. Iowa and West Virginia follow with balances under $5,500, correlating with lower costs of living in these states.
Summary
Credit card usage continues to grow in America, with total debt reaching a record $1.233 trillion in 2025. While 81% of adults have at least one credit card, the average person carries $6,580 in debt at an average interest rate of 22.4%.
The key to managing credit cards effectively is understanding these statistics and how you compare. If you're among the 46% carrying a balance, prioritizing debt payoff can save you significant money on interest charges. Check out our credit score statistics to understand how your credit card usage affects your score.
Sources
- Federal Reserve - Economic Well-Being of US Households 2024
- LendingTree - 2025 Credit Card Debt Statistics
- Bankrate - 2025 Credit Card Debt Report
- WalletHub - Credit Card Statistics 2025
- Experian - State of Credit Cards 2024
- Capital One Shopping - Credit Card Industry Statistics
- CardRates - Credit Card Issuer Market Share 2025