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Credit Card Statistics: Nowadays, credit cards play a crucial role in people’s day-to-day financial interests. As inflation is rising across the world, more and more people appear to be depending on credit cards for their daily financial transactions. Credit card penetration differs majorly across the globe as in some countries nearly all consumers use Visa or MasterCard-issued credit cards while consumers in some nations barely use these credit cards. Here we will discuss some of the most prominent credit card statistics showing the number of people using credit cards, their preferred issuers and networks, and how often and purposes behind using these cards.
Important Credit Card Statistics:
- As per the 2021 credit card statistics, around 84% of people in the US possessed at least one credit card.
- Visa has nearly 48.71% of the credit card market share worldwide.
- MasterCard accounts for 37% of the credit card market share globally.
- Visa, MasterCard, American Express, and Discover are major credit card networks.
- Gen Z accounts for the lowest average number of credit cards.
- In 2021, credit card utilization has been recorded at 25.6%.
- An average user in the US has around 3 credit cards.
- Around 40.1% of credit card users in the US with income below $100000 are more likely to carry a month-to-month balance.
- People in the US owe around $887 billion in credit card debt.
- 14% of people in the US utilize credit cards to pay their monthly…
