Credit card debt in the United States has been growing at a fast pace between 2021 and 2025. In the fourth quarter of 2024, the overall amount of credit card debt reached its highest value throughout the timeline considered here. COVID-19 had a big impact on the indebtedness of Americans, as credit card debt decreased from *** billion U.S. dollars in the last quarter of 2019 to *** billion U.S. dollars in the first quarter of 2021. What portion of Americans use credit cards? A substantial portion of Americans had at least one credit card in 2025. That year, the penetration rate of credit cards in the United States was ** percent. This number increased by nearly seven percentage points since 2014. The primary factors behind the high utilization of credit cards in the United States are a prevalent culture of convenience, a wide range of reward schemes, and consumer preferences for postponed payments. Which companies dominate the credit card issuing market? In 2024, the leading credit card issuers in the U.S. by volume were JPMorgan Chase & Co. and American Express. Both firms recorded transactions worth over one trillion U.S. dollars that year. Citi and Capital One were the next banks in that ranking, with the transactions made with their credit cards amounting to over half a trillion U.S. dollars that year. Those industry giants, along with other prominent brand names in the industry such as Bank of America, Synchrony Financial, Wells Fargo, and others, dominate the credit card market. Due to their extensive customer base, appealing rewards, and competitive offerings, they have gained a significant market share, making them the preferred choice for consumers.

View quarterly updates and historical trends for US Credit Card Debt. from United States. Source: Federal Reserve Bank of New York. Track economic data wi…

Key information about United States Household Debt

• United States Household Debt reached 18,585.0 USD bn in Sep 2025, compared with the reported number of 18,388.0 USD bn in the previous quarter
• US Household Debt: USD mn data is updated quarterly, available from Mar 1999 to Sep 2025
• The data reached an all-time high of 18,585.0 USD bn in Sep 2025 and a record low of 4,540.0 USD bn in Mar 1999

Federal Reserve Board of New York provides quarterly Household Debt in USD. Household Debt includes Mortgages, Home Equity Revolving, Auto Loans, Bankcards, Student Loans and Others.


Further information about United States Household Debt

• In the latest reports, United States Household Debt accounted for 61.4 % of the country's Nominal GDP in Jun 2025
• Money Supply M2 in United States increased 22,298.1 USD bn YoY in Oct 2025
• United States Foreign Exchange Reserves was measured at 38.3 USD bn in Oct 2025
• The Foreign Exchange Reserves equaled 0.1 Months of Import in Aug 2025
• United States Domestic Credit reached 31,813.3 USD bn in Mar 2025, representing an increased of 4.0 % YoY

Generation X was the group of people with the highest average credit card balance in the United States in the 3rd quarter of 2024. That year, the average credit card debt of generation Z amounted to approximately ***** U.S. dollars. People in the silent generation had a credit card balance of roughly ***** U.S. dollars.

The average amount of non-mortgage debt held by consumers in the United States has been falling steadily during the past years, amounting to ****** U.S. dollars in 2023. While respondents had ****** U.S. dollars of debt in 2018, that volume decreased to ****** U.S. dollars in 2019, which constituted the largest year-over-year decrease.What age groups are more indebted in the U.S.?The age group with the highest level of consumer debt in the U.S. was belonging to the Generation X with approximately ******* U.S. dollars of debt in 2022. The next generations with high consumer debt levels were baby boomers and millennials, whose debt levels were similar. In comparison, credit card debt is more equally distributed across all ages. There is an exception among people under 35 years old, who are significantly less burdened with credit card debt. However, most consumers expect to get rid of their debt in the short term. College expenses as a source of debtEducational expenses were not among the leading sources of debt among consumers in the U.S. in 2022. Instead, they made up about ** percent of the total. However, around ** percent of undergraduates from lower-income families had student loans, while over a fifth of undergraduates from higher-income families had student loans. Independently of how they cover these expenses, the confidence of students and parents about being able to pay these college costs was high in most cases.

Graph and download economic data for Household Debt Service Payments as a Percent of Disposable Personal Income (TDSP) from Q1 1980 to Q2 2025 about disposable, payments, personal income, debt, percent, households, personal, income, services, and USA.

The UK's average credit card debt per household grew by *** British pounds between December 2021 and December 2022, the first increase since 2020. Standing at ***** British pounds at December 2022, the figure contrasts with the decline in 2020 – when the debt declined from ***** British pounds to ***** British pounds. That particular drop was likely a result of Covid-19's economic impact, and consumers trying to get rid of their credit card debt. The increase in 2022 may be caused by growing interest rates and the cost of living crisis beginning to take shape.

Graph and download economic data for Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks (CCLACBW027SBOG) from 2000-06-28 to 2025-11-19 about revolving, credit cards, loans, consumer, banks, depository institutions, and USA.

United States Household Debt: Credit Card data was reported at 815.000 USD bn in Mar 2018. This records a decrease from the previous number of 834.000 USD bn for Dec 2017. United States Household Debt: Credit Card data is updated quarterly, averaging 703.000 USD bn from Mar 1999 (Median) to Mar 2018, with 77 observations. The data reached an all-time high of 866.000 USD bn in Dec 2008 and a record low of 480.000 USD bn in Jun 1999. United States Household Debt: Credit Card data remains active status in CEIC and is reported by Federal Reserve Bank of New York. The data is categorized under Global Database’s USA – Table US.KA012: Household Debt.

Key information about Mexico Household Debt

• Mexico Household Debt reached 311.6 USD bn in Jun 2025, compared with the reported number of 282.0 USD bn in the previous quarter
• Mexico Household Debt: USD mn data is updated quarterly, available from Dec 2000 to Jun 2025
• The data reached an all-time high of 320.4 USD bn in Mar 2024 and a record low of 53.5 USD bn in Dec 2000

CEIC converts quarterly Household Debt into USD. The Bank of Mexico provides Household Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Household Debt includes Mortgages and Consumer Loans.


Further information about Mexico Household Debt

• In the latest reports, Mexico Household Debt accounted for 17.0 % of the country's Nominal GDP in Jun 2025
• Money Supply M2 in Mexico increased 862.8 USD bn YoY in Oct 2025
• Mexico Foreign Exchange Reserves was measured at 222.0 USD bn in Oct 2025
• The Foreign Exchange Reserves equaled 3.4 Months of Import in Oct 2025
• Mexico Domestic Credit reached 850.5 USD bn in Sep 2025, representing an increased of 6.8 % YoY

This statistic presents median debt of credit card balances of the families in the United States in 2013, by age of family head. Families with the age of the family head between 45 and 54 years held a median debt in credit card balances of ***** U.S. dollars in the United States in 2013.

In the third quarter of 2024, household debt in the United States amounted to over 71.66 percent of its GDP. It can be generally observed that U.S. households are more indebted by the end of the year than in any other quarter. The debt of households peaked in the last quarter of 2020, reaching the highest value since 2013. Debt to GDP ratio As it can be observed here, the household debt to GDP ratio decreased overall in the recent years. The steady growth of the gross domestic product in the United States could be a factor explaining this tendency. If the volume of debt grows at a slower pace than the GDP, the debt to GDP ratio would decrease. In addition to that, the overall value of mortgage debt in the U.S., which is the most significant component of the household debt, decreased from 2012 to the third quarter of 2014, but it has rebounded since then. Public debt in the U.S. Public debt in the United States, which is the amount of money borrowed by the government to finance budget deficits, has been increasing almost every single year. Not only that, but according to that forecast it is also expected to keep increasing during the coming years. The major holders of American government debt, as of December 2023, were Federal Reserve and government accounts and foreign and international holders. The ratio of national debt to GDP of the United States was higher than that of other major economies, but lower than that of Japan. Some of the lowest debt to GDP ratios were observed in Hong Kong SAR, Kuwait, and Turkmenistan.

Key information about Russia Household Debt

• Russia Household Debt reached 395.3 USD bn in Jan 2025, compared with the reported number of 382.7 USD bn in the previous month
• Russia Household Debt: USD mn data is updated monthly, available from Dec 2000 to Jan 2025
• The data reached an all-time high of 525.1 USD bn in Jun 2022 and a record low of 1.7 USD bn in Dec 2000

CEIC converts monthly Household Debt into USD. The Bank of Russia provides Household Debt in local currency based on MFSM 2016. The Bank of Russia period end market exchange rate is used for currency conversions. Loans are used due to the lack of Flow of Funds statistics. Household Debt prior to December 2014 is based on MFSM 2000.


Further information about Russia Household Debt

• In the latest reports, Russia Household Debt accounted for 20.4 % of the country's Nominal GDP in Mar 2024
• Money Supply M2 in Russia increased 1,189.6 USD bn YoY in Jan 2025
• Russia Foreign Exchange Reserves was measured at 386.4 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 14.9 Months of Import in Oct 2024
• Russia Domestic Credit reached 1,404.0 USD bn in Dec 2024, representing an increased of 19.6 % YoY

In 2024, the credit market debt of households in the United States amounted to nearly 20.24 trillion U.S. dollars. Those figures measure the liability level of the credit market instruments of households and nonprofit organizations, which, overall, have increased considerably during the past decade.

Key information about France Household Debt

• France Household Debt reached 2,062.2 USD bn in Jun 2025, compared with the reported number of 1,886.5 USD bn in the previous quarter
• France Household Debt: USD mn data is updated quarterly, available from Dec 1977 to Jun 2025
• The data reached an all-time high of 2,062.2 USD bn in Jun 2025 and a record low of 75.3 USD bn in Dec 1977

CEIC converts quarterly Household Debt into USD. The Banque de France provides Household Debt: Loans in EUR. The Federal Reserve Board period end market exchange rate is used for currency conversions. Household Debt includes Sole Proprietorship.


Further information about France Household Debt

• In the latest reports, France Household Debt accounted for 59.9 % of the country's Nominal GDP in Dec 2024
• Money Supply M2 in France increased 3,560.1 USD bn YoY in Sep 2025
• France Foreign Exchange Reserves was measured at 33.3 USD bn in Oct 2025
• The Foreign Exchange Reserves equaled 0.5 Months of Import in Sep 2025
• France Domestic Credit reached 5,272.8 USD bn in Feb 2025, representing an increased of 2.3 % YoY

. The People's Bank of China provides Household Debt in local currency. The Federal Reserve Board period end market exchange rate is used for currency conversions. Loans are used due to the lack of Flow of Funds statistics.


Further information about China Household Debt

• In the latest reports, China Household Debt accounted for 60.4 % of the country's Nominal GDP in Sep 2025
• Money Supply M2 in China increased 44,251.0 USD bn YoY in Mar 2025
• China Foreign Exchange Reserves was measured at 3,343.3 USD bn in Oct 2025
• The Foreign Exchange Reserves equaled 15.5 Months of Import in Oct 2025
• China Domestic Credit reached 52,818.4 USD bn in Oct 2025, representing an increased of 7.9 % YoY

Key information about Israel Household Debt

• Israel Household Debt reached 263.9 USD bn in Aug 2025, compared with the reported number of 258.1 USD bn in the previous month
• Israel Household Debt: USD mn data is updated monthly, available from Sep 1992 to Aug 2025
• The data reached an all-time high of 263.9 USD bn in Aug 2025 and a record low of 18.5 USD bn in Nov 1992

CEIC converts monthly Household Debt into USD. The Bank of Israel provides Household Debt in local currency. The Bank of Israel period end market exchange rate is used for currency conversions. Loans are used due to the lack of Flow of Funds statistics.


Further information about Israel Household Debt

• In the latest reports, Israel Household Debt accounted for 42.2 % of the country's Nominal GDP in Jun 2025
• Money Supply M2 in Israel increased 437.7 USD bn YoY in Aug 2025
• Israel Foreign Exchange Reserves was measured at 227.2 USD bn in Oct 2025
• The Foreign Exchange Reserves equaled 30.6 Months of Import in Oct 2025
• Israel Domestic Credit reached 1,034.6 USD bn in Aug 2025, representing an increased of 13.3 % YoY

The debt settlement solution market is experiencing significant growth, driven by rising consumer debt levels and increasing awareness of debt relief options. While precise market size figures for the base year (2025) are unavailable, a reasonable estimate, considering the average market growth of similar financial services and consulting sectors, could place the market value at approximately $5 billion in 2025. This is based on a projected CAGR (let's assume a CAGR of 10% for illustrative purposes, reflecting a healthy but realistic growth rate within the financial services sector) and taking into account factors like increased personal debt, economic downturns, and the evolving regulatory landscape affecting the debt relief industry. The market is segmented by various service types (negotiation with creditors, debt consolidation, bankruptcy assistance, etc.), customer demographics (age, income, debt type), and geographic location. Key market drivers include the persistent rise in household debt, particularly student loan debt and credit card debt, coupled with limited financial literacy among consumers, making them vulnerable to unsustainable debt burdens. Growing marketing and advertising efforts by debt relief companies also contribute to market growth. However, market growth faces several restraints. Stringent regulatory frameworks and increased scrutiny from consumer protection agencies are shaping industry practices and potentially limiting aggressive marketing. Economic fluctuations directly impact consumer debt levels and their ability to afford debt settlement services. Furthermore, the negative perception associated with debt settlement, despite its potential benefits in certain situations, continues to deter some consumers seeking relief. The competitive landscape is also intensifying with both established players like National Debt Relief and Freedom Debt Relief, and new entrants vying for market share. Successful companies will need to differentiate themselves through superior customer service, transparent pricing, and a proven track record of successful debt settlements, navigating a complex regulatory environment while effectively communicating the value proposition to consumers. Future market growth will depend on economic conditions, regulatory changes, and the continued development of innovative and consumer-friendly debt solutions.

Denmark, the Netherlands, and Norway were among the European countries with most indebted households in 2023 and 2024. The debt of Dutch households amounted to *** percent their disposable income in the 2nd quarter of 2024. Meanwhile, Norwegian households' debt represented *** percent of their income in the 3rd quarter of 2023. However, households in most countries were less indebted, with that ratio amounting to ** percent in the Euro area. Less indebtedness in Western and Northern Europe There were several European countries where household's debts outweighed their disposable income. Most of those countries were North or West European. However, the indebtedness ratio in Denmark has been decreasing during the past decade. As the debt of Danish households represented nearly *** percent in the last quarter of 2014, which has fallen very significantly by 2024. Other countries with indebted households have been following similar trends. The households' debt-to-income ratio in the Netherlands has also fallen from over *** percent in 2013 to *** percent in 2024. Debt per adult in Europe In Europe, the value of debt per adult varies considerably from an average of around 10,000 U.S. dollars in Europe to a much higher level in certain countries such as Switzerland. Debts can be formed in a number of ways. The most common forms of debt include credit cards, medical debt, student loans, overdrafts, mortgages, automobile financing and personal loans.

In the third quarter of 2022, households in the United States had, on average, ****** U.S. dollars of mortgage debt. That was the biggest component of their personal debt burden. The value per capita of car and student loans was much lower, but still contributed more to the level of household indebtedness than credit cards or HE revolving.