Credit Card Ownership And Usage Statistics

blackCAT/Getty Images: Illustration by Issiah Davis/Bankrate

Credit cards let you spend money, earn rewards and build credit when used responsibly — making them a popular choice among many Americans. But the use of credit varies by demographic, state and income. Buy now, pay later has also entered the scene as an alternative way to pay with credit.

Find the latest 2025 statistics on credit card usage in the U.S. below.

How many credit cards do Americans have?

The Federal Reserve Bank of New York found nearly 3 in 4 Americans (74 percent) have at least one credit card.

And new credit card accounts are on the rise. The New York Fed reports there are 636 million credit card accounts open as of Q2 2025. That’s 6 percent more than a year ago (599 million in Q2 2024), 10 percent more than two years ago (578.35 million in Q2 2023) and 50 percent more than 10 years ago (nearly 423 million in Q2 2015).

But it’s worth noting the average number of cards per person is dropping. Experian cites the average American holds 7.1 credit cards in 2025, but only 3.7 are active cards — a 10 percent drop from 4.1 active cards 10 years ago.

This could mean the overall population is rising faster than the rate at which new cards are being opened. Or, more people may be applying for credit but holding fewer cards overall.

Bankrate’s 2025 Credit Denials Survey, based on research conducted in December 2024, found that 15 percent of Americans had applied for a general credit card and 6 percent for a balance transfer card in the prior year.

Which Americans have credit cards?

Here’s which Americans are more likely to have at least one credit card, according to data from Bankrate’s 2025 Credit Card Debt Report:

• Older generations: 84 percent of boomers (ages 61 to 79) have at least one credit card, compared to 72 percent of both Gen Xers (45-60) and millennials (29-44) and 57 percent of Gen Zers.
• Men: The Equal Credit Opportunity Act prohibits credit discrimination based on various factors, including gender and sexual orientation. Men and women are relatively on par — but 74 percent of men have at least one credit card, compared to 72 percent of women. Note that this difference is not statistically significant.
• Higher income earners: 90 percent of $100,000+ earners and 88 percent of $80,000-$99,999 earned have at least one credit card, versus 83 percent of $50,000-$79,999 earners and 61 percent of under $50,000 earners.
• Suburban residents: 77 percent of Americans who live in the suburbs have a credit card, compared to 73 percent in the city, 69 percent in a rural area and 66 percent in a town.
• White Americans: 77 percent of white Americans, 71 percent of Hispanic Americans, 56 percent of Black Americans and 67 percent of other races have at least one credit card.

If there’s a picture shaping in your mind of the most likely cardholder, you’re not wrong. But gaining financial fluency can help other Americans increase access to credit, loans, wealth and more — while overcoming barriers that may currently stand in their way.

How many Americans are in credit card debt?

Bankrate data found 34 percent of total Americans — and, more specifically, 46 percent of credit cardholders — are in credit card debt.

TransUnion, a major credit bureau, reports the average credit card debt per cardholder is $6,473. And total credit card balances have reached $1.21 trillion, according to the New York Fed.

Here’s a breakdown of how many cardholders in each U.S. region are in credit card debt, reported by Bankrate:

What are the most popular credit cards?

Choosing the right card varies by cardholder, but Americans have their favorites. Here’s which credit cards rank highest in customer satisfaction in 2025, according to J.D. Power:

No-annual-fee cards:

1. Capital One Savor Student Cash Rewards Credit Card
2. Citi Double Cash® Card
3. Discover it® Student Cash Back
4. Wells Fargo Active Cash® Card
5. Chase Freedom Flex®

Annual-fee cards:

1. The Platinum Card® from American Express
2. Bank of America® Premium Rewards® credit card
3. American Express® Gold Card
4. Chase Sapphire Reserve®
5. Capital One Venture X Rewards Credit Card

And here’s how card issuers rank:

1. American Express
2. Bank of America
3. Capital One
4. Chase
5. Discover
6. Wells Fargo
7. Citi
8. PNC
9. U.S. Bank
10. Fifth Third

What are the most popular payment methods?

Credit tops the charts as the most used payment method (35 percent), according to the Federal Reserve Financial Services’ FedCash Services. But many Americans still prefer cash — in the form of debit (30 percent) or cold, hard cash (14 percent) — to credit.

ACH (like bank transfers), checks and other payment options trail behind.

Additionally, Americans make an average of 48 payments per month, and nearly 1 in 4 (23 percent) of those payments are made online or with a mobile device.

It’s also worth noting the rise of buy now, pay later (BNPL) services, especially among young people. Bankrate’s 2025 Buy Now, Pay Later Survey shows almost 1 in 3 U.S. adults (30 percent) have used BNPL. That includes 38 percent of Gen Zers and 37 percent of millennials.

Here are the most popular BNPL services named by J.D. Power for 2025:

1. Pay It and Plan It from American Express
2. My Chase Plan
3. Citi Flex Pay
4. Klarna
5. Zip
6. PayPal
7. Afterpay
8. Sezzle
9. Affirm

The bottom line

Credit cards can be a useful tool for making purchases, earning rewards and building credit when used responsibly. To reap the same benefits that many other Americans are tapping into, learn how to pick the right credit card for you.

However, carrying a balance can lead to interest charges and a lower credit score. If you find yourself in the red and no longer want to be part of the debt statistic, here’s how to pay off credit card debt.

Frequently asked questions about credit cards

• How many credit cards should I have?
  

  The number of credit cards in your wallet depends on your spending habits, credit score and other personal factors, but the average American holds between 3 and 4 active cards.

  If you’re just starting to build your credit score, one card — that you can qualify for — might be enough to let you practice responsible credit use and even earn some rewards.

  If you have good to excellent credit, you can use several of the best rewards cards to maximize your rewards strategy. You’ll want to do your best to stay out of credit card debt, as interest fees can quickly outweigh any rewards you earn.

• What is the average credit score?
  

  FICO reports the average credit score in the U.S. this year is 715, which is considered a good credit score. It’s down two points from 2024.

  VantageScore, the other major credit-scoring model, reports the average credit score is 701, also considered “good.”

• How do I get a credit card?
  

  To apply for a credit card, start by checking your credit score for free, like with Experian’s credit-monitoring tool. Then, you can compare cards that align with your credit score.

  Before applying, see if you can get preapproved. There’s no credit impact, and you don’t have to waste a hard credit inquiry on a card you might not qualify for.

  Once you’re preapproved for the card you’re eyeing, you can apply online, by mail, by phone or in person with your personal information. The issuer might review your application immediately, or it could take several days to get a verdict.