Graph and download economic data for Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks (CCLACBW027SBOG) from 2000-06-28 to 2025-09-24 about revolving, credit cards, loans, consumer, banks, depository institutions, and USA.

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.

Graph and download economic data for Delinquency Rate on Credit Card Loans, All Commercial Banks (DRCCLACBS) from Q1 1991 to Q2 2025 about credit cards, delinquencies, commercial, loans, banks, depository institutions, rate, and USA.

Key information about United States Household Debt

• United States Household Debt reached 18,036.0 USD bn in Dec 2024, compared with the reported number of 17,943.0 USD bn in the previous quarter
• US Household Debt: USD mn data is updated quarterly, available from Mar 1999 to Dec 2024
• The data reached an all-time high of 18,036.0 USD bn in Dec 2024 and a record low of 4,540.0 USD bn in Mar 1999

• In the latest reports, United States Household Debt accounted for 61.7 % of the country's Nominal GDP in Dec 2024
• Money Supply M2 in United States increased 21,533.8 USD bn YoY in Dec 2024
• United States Foreign Exchange Reserves was measured at 34.9 USD bn in Dec 2024
• The Foreign Exchange Reserves equaled 0.1 Months of Import in Dec 2024
• United States Domestic Credit reached 30,648.3 USD bn in Mar 2024, representing an drop of 0.3 % YoY

Consumer Credit in the United States increased to 16.01 USD Billion in July from 9.61 USD Billion in June of 2025. This dataset provides the latest reported value for - United States Consumer Credit Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The FR 2835 collects interest rates on loans for new vehicles and loans for other consumer goods and personal expenses from a sample of commercial banks and the FR 2835a collects interest rates, finance charges, and loan balances for credit card accounts from a sample of commercial banks. The data from these reports help the Board analyze current household financial conditions and the implications of these conditions for household spending and, as such, these data provide valuable input to the monetary policymaking process. The data are also used to create aggregate statistics on consumer loan terms that are published in the Federal Reserve's monthly statistical releases G.19 Consumer Credit and G.20 Finance Companies, and in the Federal Reserve Bulletin. Some of the aggregates are used by the Board in the calculation of the aggregate household debt service and financial obligations ratios for the Federal Reserve's quarterly Financial Obligations statistical release and by the Bureau of Economic Analysis to calculate interest paid by households as part of the National Income and Product Accounts.

United States HH Debt: Balance: New Delinquent Loan: Credit Card data was reported at 6.840 % in Mar 2020. This records a decrease from the previous number of 6.950 % for Dec 2019. United States HH Debt: Balance: New Delinquent Loan: Credit Card data is updated quarterly, averaging 8.081 % from Mar 2003 (Median) to Mar 2020, with 69 observations. The data reached an all-time high of 13.780 % in Dec 2009 and a record low of 5.073 % in Jun 2016. United States HH Debt: Balance: New Delinquent Loan: 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 United States – Table US.KB027: Household Debt.

HH Debt: Credit Card: Limit data was reported at 3,931.000 USD bn in Mar 2020. This records an increase from the previous number of 3,897.000 USD bn for Dec 2019. HH Debt: Credit Card: Limit data is updated quarterly, averaging 2,913.000 USD bn from Mar 1999 (Median) to Mar 2020, with 85 observations. The data reached an all-time high of 3,931.000 USD bn in Mar 2020 and a record low of 1,380.000 USD bn in Jun 1999. HH Debt: Credit Card: Limit data remains active status in CEIC and is reported by Federal Reserve Bank of New York. The data is categorized under Global Database’s United States – Table US.KB027: Household Debt.

The G.19 Statistical Release, Consumer Credit, reports outstanding credit extended to individuals for household, family, and other personal expenditures, excluding loans secured by real estate. Total consumer credit comprises two major types: revolving and nonrevolving. Revolving credit plans may be unsecured or secured by collateral and allow a consumer to borrow up to a prearranged limit and repay the debt in one or more installments. Credit card loans comprise most of revolving consumer credit measured in the G.19, but other types, such as prearranged overdraft plans, are also included. Nonrevolving credit is closed-end credit extended to consumers that is repaid on a prearranged repayment schedule and may be secured or unsecured. To borrow additional funds, the consumer must enter into an additional contract with the lender. Consumer motor vehicle and education loans comprise the majority of nonrevolving credit, but other loan types, such as boat loans, recreational vehicle loans, and personal loans, are also included. This statistical release is designated by OMB as a Principal Federal Economic Indicator (PFEI).

T-test for AUCROC.

This report analyses the ratio of credit card debt to discretionary income. Credit card debt covers all personal advances on credit and charge cards, both interest-bearing and non-interest bearing, that are outstanding. Discretionary income is the amount of income remaining after deducting necessary household expenses and can be used to repay debt. The data for this report is sourced from the Reserve Bank of New Zealand (Te Putea Matua) and Statistics New Zealand (Tatauranga Aotearoa). The data is presented as credit card debt as a percentage of discretionary income for each financial year.

Real consumer debt is now higher than its prior peak during the global financial crisis, driven in part by increases in credit card debt. Although the share of credit card debt transitioning into delinquency has risen, it remains below levels seen during the global financial crisis. Moreover, debt-to-income measures remain historically low, suggesting that consumers in aggregate may have more room to run up debt before experiencing further financial stress.

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.

The global Credit Card Collection Service market is expected to reach a value of USD 3.86 billion by 2033, exhibiting a CAGR of 4.8% during the forecast period (2025-2033). The market growth can be attributed to the increasing use of credit cards, stringent regulations, and rising bad debt rates. Growing consumer spending, which is a key driver of the credit card industry, and rising levels of consumer debt are contributing to the demand for credit card collection services. Additionally, the adoption of advanced technologies, such as artificial intelligence (AI) and machine learning (ML), to automate and enhance collection processes is expected to further drive market growth. Competition is increasing in the credit card collection service industry, with a growing number of players entering the market. Key players in the market include KK Associates, Creditors Collection Service, Inc., Vital Solutions, Inc., AmSher, Holloway Credit Solutions, LLC, Credit & Collection Recovery Service, Inc, Merchants Adjustment Service, DiRecManagement, Inc, Armstrong and Associates, Fidelity Creditor Service, Inc, Optio Solutions LLC, Midland Credit Management, Nationwide Recovery Network Inc, Capital Collections, ARS National Services, AAA Credit Services, Commercial Trade Inc, Your Collection Solution LLC, Cooper Judgment Recovery, LLC, Global Debt Solutions Inc, Debt Collection, Huadao Data Processing (Suzhou) Co., Ltd, Shanghai Yinhua Yinhua Service Outsourcing Co., Ltd, Gaobai (China) Enterprise Management Consulting Co., Ltd, Beijing Huatuo Financial Service Outsourcing Co., Ltd, CBC (Beijing) Credit Management Co., Ltd, and Shenzhen Wancheng United Investment Co., Ltd. These players are focusing on expanding their service offerings, investing in technology, and forming strategic partnerships to gain a competitive edge.

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Debt Settlement Market Size 2024-2028

The debt settlement market size is forecast to increase by USD 5.07 billion at a CAGR of 10.3% between 2023 and 2028.

The market is experiencing significant growth due to the increasing trend of consumers seeking relief from mounting credit card debts. One-time debt settlement has gained popularity as an effective solution for individuals looking to reduce their outstanding debt balances. However, the time-consuming nature of negotiations between debtors and creditors poses a challenge for market expansion. Despite this, the market's strategic landscape remains favorable for companies offering debt settlement services. Key drivers include the rising number of consumers struggling with debt, increasing awareness of debt settlement as a viable debt relief option, and the growing preference for affordable and flexible debt repayment plans.
Companies seeking to capitalize on market opportunities should focus on streamlining the negotiation process, leveraging technology to enhance customer experience, and building trust and transparency with clients. Effective operational planning and strategic partnerships with creditors can also help companies navigate the challenges of a competitive and complex market.

What will be the Size of the Debt Settlement Market during the forecast period?

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The market encompasses a range of companies offering financial wellness programs to help consumers manage and reduce their debt. These programs include medical Debt collection, consumer debt relief, and financial education resources. Online financial resources and debt management software are increasingly popular, providing consumers with affordable debt solutions and debt negotiation strategies. However, it's crucial for consumers to be aware of debt settlement scams and their settlement success rates. Debt consolidation loans and financial planning tools are also viable options for responsible debt management. Furthermore, financial literacy education and workshops are essential for consumers to understand debt reduction calculators and credit reporting errors.
Consumer financial protection agencies offer financial counseling services and financial planning advice to promote financial wellness strategies and responsible borrowing. Student loan forgiveness programs are also gaining traction in the market. Overall, the market for debt settlement and financial wellness solutions continues to evolve, with a focus on providing accessible and effective debt relief options for consumers.

How is this Debt Settlement Industry segmented?

The debt settlement industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Credit card debt
  Student loan debt
  Medical debt
  Auto loan debt
  Unsecured personal loan debt
  Others


End-user

  Individual
  Enterprise
  Government


Distribution Channel

  Online
  Offline
  Hybrid


Service Type

  Debt Settlement
  Debt Consolidation
  Debt Management Plans
  Credit Counseling


Provider Type

  For-profit Debt Settlement Companies
  Non-profit Credit Counseling Agencies
  Law Firms
  Financial Institutions


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa



  APAC

    China
    India
    Japan
    South Korea


  South America



  Rest of World (ROW)

By Type Insights

The credit card debt segment is estimated to witness significant growth during the forecast period.

The market experiences significant activity due to the escalating credit card debt among consumers. In India, for instance, the rising financial hardships faced by borrowers are evident in the increasing credit card defaults. The latest data indicates that credit card defaults in India reached 1.8% in June 2024, a notable increase from 1.7% six months prior and 1.6% in March 2023. This trend underscores the mounting financial pressures on consumers. The outstanding credit card debt in India mirrors this trend, with approximately USD3.25 billion in outstanding balances as of June 2024, a slight increase from the previous year.

Debt elimination and negotiation strategies, such as debt relief programs and debt consolidation, have become increasingly popular among consumers seeking financial relief. Credit reporting agencies play a crucial role in this process, as they maintain and report consumers' credit histories to lenders. Student loan debt, medical debt, tax debt, and payday loans are other significant contributors to the market. Consumers often turn to debt validation, credit repair, and financial coaching for guidance in managing their debts. Online platforms, mobile apps, and budgeting tools have become esse

The debt management services market is experiencing robust growth, driven by rising personal debt levels globally and increasing awareness of professional debt solutions. While precise figures for market size and CAGR weren't provided, a reasonable estimation, based on industry reports showing similar markets experiencing 5-8% annual growth, suggests a 2025 market size of approximately $15 billion USD. Projecting a conservative CAGR of 6% for the forecast period (2025-2033), the market is anticipated to reach approximately $25 billion USD by 2033. This growth is fueled by several key factors: a rise in consumer debt due to factors such as increased credit card usage and student loan burdens, the growing prevalence of financial illiteracy and the need for professional guidance, and a shift toward digital platforms offering accessible and convenient debt management solutions. The market is segmented by profit status (for-profit and non-profit) and application (individual and commercial), with the individual segment currently dominating. Key players like Money Management International and InCharge Debt Solutions are leveraging technology and expanding their service offerings to cater to this growing demand, while facing challenges such as regulatory scrutiny and the ongoing threat of financial scams. The geographical distribution of the debt management services market is diverse, with North America and Europe currently holding the largest market share. However, emerging economies in Asia-Pacific and regions in Africa are exhibiting promising growth potential. This expansion is attributed to increasing disposable incomes, improving financial literacy programs in certain regions, and the availability of debt consolidation services. Factors such as economic downturns, changes in consumer behavior and evolving regulatory frameworks pose restraints to market growth. However, the market's adaptability and the increasing need for effective debt solutions suggest a continuous upward trajectory in the foreseeable future. Future growth will likely depend on effective marketing, technological innovation, and strategic partnerships to better reach underserved populations.

The global personal credit card market, valued at $1,404.43 million in 2025, is projected to experience robust growth, driven by increasing financial inclusion, rising disposable incomes, and the expanding e-commerce sector. The market's Compound Annual Growth Rate (CAGR) of 4.3% from 2025 to 2033 indicates a steady expansion, with significant opportunities across diverse segments. The customer base is segmented by credit usage patterns, ranging from limited usage to those with revolving debt, reflecting varying levels of financial responsibility and risk appetite. Application-wise, daily consumption, travel, and entertainment are major drivers, showcasing the card's versatility in meeting diverse spending needs. Geographic expansion is also a key factor; while North America and Europe currently hold substantial market share, rapid economic growth in Asia-Pacific and other emerging markets promises significant future growth potential. Competition among major players like JPMorgan, Citibank, and American Express is fierce, leading to innovative product offerings and aggressive marketing strategies to capture market share. The increasing prevalence of digital banking and fintech solutions is further transforming the landscape, enabling faster application processing, enhanced security measures, and improved customer experiences. The market faces certain restraints, including rising interest rates, stringent regulatory frameworks aimed at protecting consumers from debt traps, and potential economic downturns that could impact consumer spending. However, the ongoing development of sophisticated credit scoring models and risk assessment tools, combined with financial literacy initiatives, are expected to mitigate some of these challenges. The ongoing adoption of contactless payments and mobile wallets is further fueling growth, adding convenience and security to personal credit card transactions. The market will likely witness increased product differentiation, with personalized offerings tailored to specific customer needs and lifestyles. Furthermore, strategic partnerships between banks and fintech companies are expected to accelerate innovation and market penetration in the coming years.

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.

Graph and download economic data for Total Consumer Credit Owned and Securitized (TOTALSL) from Jan 1943 to Jul 2025 about securitized, owned, consumer credit, loans, consumer, and USA.

Dataset summary for various data sources used in the study.