Younger credit card users typically have higher utilization rates, with this trend decreasing among older generations. Over 1 in 7 Gen Z credit card users were maxed-out borrowers in the first quarter of 2024. On the other end, fewer than 5% of Baby Boomers have maxed out their credit card...
U.S. Credit Card Market Share by Payment Processor: 2021 Data First, total U.S. market share for the four payment processors operating in this country. You can see that Visa has by far the biggest market share, with 61.6% in 2021. That’s more than double its closest rival, Mastercard...
According toBankrate’s 2024 Credit Card Debt Report, revolving credit card debt has increased in the past year, with around 50 percent of U.S. adults carrying a card balance from month to month and around 38 percent saying they are willing to go into debt for discretionary purchases, like...
If you can pay off your credit card balance in full each month, you can avoid the expensive interest charges and other fees that lead to to credit card debt. But if you tend to carry a balance, make it a priority to find a low-interest credit card. These cards have a lower annual...
The average credit card debt per borrower was USD 5,474 or about USD 617 higher than the year before. This shift may be due to inflation and marks a move in the wrong direction. Collectively, this adds up to USD 38 billion in new debt in a single quarter and represents a 15% ...
It's always best to pay your credit card bill in full each month; when you do that, you never get charged interest, so the APR on your credit card doesn't really matter. But life happens and sometimes it's necessary to carry debt, which can get expensive. In fact, the average rate...
This chart shows US adults' level of credit card debt, broken out by those who have none, under $5,000, increments between $5,000-50,000, $50,000 or more, and by generation including gen z, millennials, gen x and baby boomers.
This guide will help marketers understand emerging trends, customer needs, latest payment innovations and their adoption rates, and the key industry players leading the way in the credit card industry.
The nation’s total revolving debt—mainly credit card debt—grew by $152 million in March, a dramatic slowdown from the $10.7 billion added in February, and the smallest increase since April 2021, as the chart below shows. Overall consumer debt, a measure that includes things like auto and...
Credit cards are an example of credit that allowing you to purchase just about anything on credit. The card-issuing bank serves as an intermediary between buyer and seller, paying the seller in full while extending credit to the buyer, who may repay the debt over time while incurring interest...