September 28, 2022
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10 Credit Card Statistics You Should Know in 2022

10 Credit Card Statistics You Should Know in 2022
10 Credit Card Statistics You Should Know in 2022

Credit cards date back to the 50s when the first Diners Club card came on the market. They have become an integral part of everyone’s finances because of their comfort and benefits. In the United States alone, there are over a billion cards, and the total balance owed is more than $ 6,000. What is the most popular card in the US and how many credit cards does the average American have? Can you guess the card with the highest acceptance rates worldwide? Scroll down to find US Credit Card Statistics 2022 and the answers to all these questions and more.

10 Credit Card Statistics in 2022

  • There are 1.06 billion credit cards distributed in the US.
  • 70% of Americans have at least one credit card.
  • Average credit card balance is $ 1,546.27
  • Number of US credit cards is 519,960,000
  • Americans have an average of 2.7 credit cards.
  • Chase is the leading card issuer in the US.
  • Visa is a very popular credit card symbol in the United States.
  • The average US credit card balance is $ 5,331.
  • American Express is a credit card with a high level of success worldwide.
  • Average credit card debt in US per adult is $3,148

General Facts and Credit Card Best Practices In 2022, there were 2.8 billion credit cards being distributed.

Most of them (or $ 1.06 billion) were distributed in the US, according to a Shift Processing credit card analysis. That equates to 1.49 billion credit cards in 2008. In 2000, there were 1.43 billion cards distributed in the United States. In contrast, between 2000 and 2008, the number improved by only 0.06 billion.

(Source: Shift Processing)

70% of Americans have at least one credit card.

According to credit card ownership statistics, about 34% of credit card holders have at least three. In 2019, the average number of cards per person was 2.7. In 2009, the average was 3.7. However, the number of cards distributed has been steadily growing over the past two decades.

(Source: Shift Processing)

The average per capita credit card sales rate increased between 2008 and 2020.

In 2008, Americans carried 3.03 store-bought credit cards on average. By 2020, the number of credit card accounts had risen to 3.84. Gen Z consumers are partly responsible for these credit card debt figures, given the tendency of small groups to take on extra credit.

(Source: Experian)

Baby Boomers are a generation with many cards for each person.

The people of this generation have an average of 4.61 cards. Gen Xers comes second with an average of 3.23 cards per person. Buyers from Silent Generation hold 3.64 cards, on average, while Millennials have 3.18. American Generation Z holds the lowest number of credit cards, and the average is 1.91.

(Source: Experian)

Most US parents always have a balance on their credit cards.

One of the most interesting facts about credit card debt is that 29% of Americans with children always have unpaid balance. About 27%, on the contrary, said they did not owe any of their balance on their cards. Only 7% of American parents do not have a credit card at all, while 20% sometimes carry a balance. Americans who always have a credit card balance represent 17% of US parents.

(Source: Statistics)

Chase is the leading credit card issuer in the United States.

Chase issued 93 million cards, making him a real leader in terms of the credit card market share. Next on the list comes Citi Bank with 48 million cards or about 50% below Chase. The third largest credit card issuer in the US is Capital One, with 45 million cards. Credit card industry statistics show that Bank of America and Wells Fargo compiled a list of the top five card issuers, with a total of 32 million and 24 million cards, respectively.

(Source: Shift Processing)

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The brand has issued 335 million cards. The number was higher than all the combined Mastercard, Discover, and American Express cards, depending on the credit card data. Mastercard has 200 million distributed cards, while Discover has about 51.4 million cards. American Express is the least popular, with only 47.5 credit cards.

Credit card usage figures also show that the Visa market share stands at 52.8%, followed by Mastercard and Discover at 31.6% and 8.1%, respectively. American Express is down 7.5%.

(Source: Shift Processing)

US Credit Card Statistics 2022 are widely used in online shopping and supermarkets.

About 48% of US customers report using credit cards to make online purchases. At 38% and 36%, credit cards are the highest payment method at supermarkets and restaurants. Credit card payments appear to be less popular with supermarkets (27%) and fast food (17%). Only 6% of consumers report using their credit cards to pay individuals.

(Source: Shift Processing)

About a quarter of US consumers will never download their credit cards into their mobile wallets.

Recent US credit card statistics show a lack of confidence among card users regarding mobile wallets. Only 10% of the TSYS survey responded that they had already uploaded their card to their mobile phone. About 8% said they would do this in the future, and in 19% this step was possible. About 18% of American consumers were neutral on the topic, while 21% said it was impossible for them to do so. The majority or 24% say they will never load their credit cards into a wallet.

(Source: TSYS)

US Credit Card Statistics 2022: cards dominate the market soon.

Back in 2013, card issuers introduced recorded cards, making payment without touch and possible. Today, contact cards and payments are among the fastest growing trends in the credit card industry. The acceptance of such cards is steadily increasing, with more than half of Americans (51%) using some form of payment without touch. A growing number of consumers are avoiding money during the COVID-19 epidemic.

(Source: CNBC)