There were about 572 million credit card accounts in the U.S. as of 2022, and 84% of adults had at least one credit card in their wallet. Altogether, this resulted in more than 1 billion credit cards in circulation in the U.S.
The number of credit cards in circulation and the number of people using them are crucial metrics when it comes to understanding both the payments landscape and consumer preferences. These figures speak to the overall availability of credit as well as the popularity of credit as a spending vehicle. Furthermore, credit card statistics like these indicate whether most consumers are using a single credit card for all expenses or a few cards targeted to different types of transactions.
Table of Contents
Number of Credit CardsNumber of CardholdersNumber of Credit Cards per CardholderNumber of New Credit Card InquiresCredit Card OwnershipNumber of Credit Card Accounts
Number of Credit Cards
- There were a total of 1.12 billion credit cards in 2018 and the projection for 2023 is more than 1.25 billion.
- The number of credit cards from the four primary credit card networks (VISA, Mastercard, American Express, and Discover) was 679 million in 2018.
Total Number of Credit Cards
(Source: U.S. Census Bureau and Nilson Report)
Number of Credit Cards by Card Type
(Source: U.S. Census Bureau and Nilson Report)
Number of Credit Card Accounts
The number of credit card accounts is on the rise, even after a slight decline during the pandemic. The total number of credit card accounts now surpasses pre-pandemic levels, reaching the highest level in 20+ years.
Total Number of Credit Card Accounts
(Source: FRBNY Consumer Credit Panel/Equifax)
| Year | Number of Credit Card Accounts Q1 | Number of Credit Card Accounts Q2 | Number of Credit Card Accounts Q3 | Number of Credit Card Accounts Q4 |
| 2023 | 572.87 | 578.35 | 589.63 | 594.75 |
| 2022 | 537.11 | 549.87 | 555.36 | 564.5 |
| 2021 | 505.67 | 511.61 | 519.96 | 531.54 |
| 2020 | 511.41 | 504.74 | 505.54 | 505.62 |
| 2019 | 482.7 | 486.5 | 488.92 | 507.94 |
| 2018 | 466.88 | 469.64 | 474.24 | 479.23 |
| 2017 | 454.58 | 459.31 | 465.97 | 468.76 |
| 2016 | 435.61 | 440.98 | 445.04 | 453.07 |
| 2015 | 415.77 | 421.82 | 426.63 | 424.35 |
| 2014 | 401.54 | 405.89 | 410.54 | 412.99 |
| 2013 | 383.08 | 388.87 | 391.24 | 399.01 |
| 2012 | 386 | 383 | 382 | 383 |
| 2011 | 385.86 | 389.17 | 383.27 | 386.2 |
| 2010 | 385.86 | 380.54 | 377.9 | 380.07 |
| 2009 | 434.25 | 412.38 | 401.77 | 394.27 |
| 2008 | 474.57 | 496.12 | 492.19 | 472.17 |
| 2007 | 444.88 | 474.74 | 478.86 | 481.44 |
| 2006 | 458.41 | 460.35 | 454.64 | 451.28 |
| 2005 | 451.95 | 450.14 | 452.34 | 455.91 |
| 2004 | 449.62 | 458.26 | 447.07 | 448.43 |
| 2003 | 469.81 | 468.94 | 457.64 | 452.71 |
| 2002 | 466.88 | 477.83 | 474.13 | 478.8 |
| 2001 | 419.78 | 447.93 | 437.47 | 467.48 |
| 2000 | 384.68 | 394.51 | 386.7 | 414.02 |
| 1999 | 365.16 | 364.67 | 373.45 | 371.65 |
(Source: FRBNY Consumer Credit Panel/Equifax)
Number of Cardholders
The number of cardholders in 2018 was 182 million, a growth of about 16.5% compared to 7 years ago, in 2011. By 2023, this number is predicted to grow nearly 6%, to 193 million.
Total Number of Cardholders
(Source: U.S. Census Bureau and Nilson Report)
Number of Cardholders by Card Type
(Source: U.S. Census Bureau and Nilson Report)
Number of Credit Cards per Cardholder
In 2021, 8 in 10 adults in the U.S. (84%) reported that they had at least one credit card, and 73% of those adults carried a balance.
Consumer credit equaled 22% of household debt at the end of 2021, down from 23.14 % the prior year. Consumer credit per household was $25,112. Credit card debt was 5.50% of total debt in 2021, down from 5.63% the prior year.
| 2021 | 2020 | Change 2021 vs. 2020 | |
|---|---|---|---|
| Average Number of Credit Cards | 3.00 | 3.00 | 0.00% |
| Average Credit Card Balances | $5,525 | $5,897 | -6.31% |
| Average Credit Card Balance per Capita | $3,060 | $2,970 | 3.03% |
| Average Number of Retail Credit Cards | 2.33 | 2.42 | -3.72% |
| Average Retail Credit Card Balances | $1,887 | $2,044 | -7.68% |
| Average Nonmortgage Debt | $25,112 | $25,483 | -1.46% |
| Average Mortgage Debt | $229,242 | $215,655 | 6.30% |
(Source: New York Fed Consumer Credit Panel/Equifax, Federal Reserve and Experian, 2022)
Average Number of Credit Cards by Age
(Source: Experian, Q3 2020)
Average Number of Credit Cards by State
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(Source: Experian, Q3 2020)
Number of New Credit Card Inquires
As of Q4 2023, inquires for new credit cards had dropped to around 53% of their count in 2015.
New Credit Card Inquiries
(Source: FRBNY Consumer Credit Panel/Equifax)
Credit Card Ownership
Credit Card Ownership by Income Level
| Annual Income | Share of Adults with a Credit Card |
|---|---|
| Less than $25,000 | 57% |
| $25,000 to $49,999 | 83% |
| $50,000 to $99,000 | 94% |
| $100,000 or more | 98% |
(Source: Federal Reserve, Economic Well-Being of U.S. Households in 2022)
Credit Card Ownership by Race/Ethnicity
| Race/Ethnicity | Share of Adults with a Credit Card |
|---|---|
| White | 87% |
| Black | 71% |
| Hispanic | 73% |
| Asian | 92% |
(Source: Federal Reserve, Economic Well-Being of U.S. Households in 2022)
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