Credit card debt in the United States has been growing at a fast pace between 2021 and 2024. In the third 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 927 billion U.S. dollars in the last quarter of 2019 to 770 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 2024. That year, the penetration rate of credit cards in the United States was 67 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 2023, 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 Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks (CCLACBW027SBOG) from 2000-06-28 to 2025-03-12 about revolving, credit cards, loans, consumer, banks, depository institutions, and USA.

Households Debt in the United States decreased to 70.50 percent of GDP in the third quarter of 2024 from 70.70 percent of GDP in the second quarter of 2024. This dataset provides - United States Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Canada was one of three countries worldwide in 2021, where credit card ownership among consumers 15 years and up was over 70 percent. This according to a major survey held once every three years in over 140 different countries. The results highlight the major differences in how countries prefer to pay: In Europe, for instance, the Nordics, Luxembourg, and the United Kingdom are regarded as top credit card countries, whereas the Netherlands ranked significantly lower than all these countries.

Credit card usage

Cardholders use their credit cards for billions of purchase transactions per year. Some do this to avoid carrying cash around, while others carry out transactions. Many also use credit cards because they do not have to pay immediately. While this can help with monthly cash flow issues, it can also lead to credit card debt that can take years to pay off.

Regional differences in credit cards

Some counties have a culture of credit card usage. For example, the leading credit card companies in the United States have issued hundreds of millions of credit cards, more than the number of U.S. citizens. Other countries do not have the culture of non-cash transactions. Overcoming this requires both an investment in payment infrastructure and putting people in the habit of using cards instead of cash.

Graph and download economic data for Delinquency Rate on Credit Card Loans, All Commercial Banks (DRCCLACBS) from Q1 1991 to Q4 2024 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

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 61.7 % 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

Key information about China Household Debt

• China Household Debt reached 11,498.4 USD bn in Jan 2025, compared with the reported number of 11,347.6 USD bn in the previous month
• China Household Debt: USD mn data is updated monthly, available from Jan 2007 to Jan 2025
• The data reached an all-time high of 11,691.0 USD bn in Sep 2024 and a record low of 517.7 USD bn in Jan 2007

CEIC converts monthly Household Debt into USD. 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 63.3 % of the country's Nominal GDP in Mar 2023
• Money Supply M2 in China increased 44,045.8 USD bn YoY in Sep 2024
• China Foreign Exchange Reserves was measured at 3,209.0 USD bn in Jan 2025
• The Foreign Exchange Reserves equaled 13.9 Months of Import in Dec 2024
• China Domestic Credit reached 49,338.1 USD bn in Jan 2025, representing an increased of 7.9 % YoY

Private Debt to GDP in the United States decreased to 216.50 percent in 2023 from 224.50 percent in 2022. United States Private Debt to GDP - values, historical data, forecasts and news - updated on March of 2025.

Daily, weekly and monthly data showing seasonally adjusted and non-seasonally adjusted UK spending using debit and credit cards. These are official statistics in development. Source: CHAPS, Bank of England.

Graph and download economic data for Charge-Off Rate on Credit Card Loans, All Commercial Banks (CORCCACBS) from Q1 1985 to Q4 2024 about charge-offs, credit cards, commercial, loans, banks, depository institutions, rate, and USA.

Monthly credit aggregates for the household sector, by category.

Households Debt in Canada increased to 100.39 percent of GDP in the fourth quarter of 2024 from 100.32 percent of GDP in the third quarter of 2024. This dataset provides - Canada Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Revolving Consumer Credit Owned and Securitized (REVOLSL) from Jan 1968 to Jan 2025 about securitized, owned, revolving, consumer credit, loans, consumer, and USA.

Key information about South Korea Household Debt: % of GDP

• South Korea household debt accounted for 93.7 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 93.9 % in the previous quarter.
• South Korea household debt to GDP ratio is updated quarterly, available from Dec 2002 to Sep 2024.
• The data reached an all-time high of 101.9 % in Sep 2021 and a record low of 61.4 % in Mar 2005.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. The Bank of Korea provides Household Debt in local currency and Nominal GDP in local currency, based on SNA 2008. Household Debt includes NPISH. Household Debt prior to Q4 2008 is based on SNA 1993.


Related information about South Korea Household Debt: % of GDP

• In the latest reports, South Korea Household Debt reached 1,742.9 USD bn in Mar 2023.
• Money Supply M2 in South Korea increased 6.7 % YoY in Sep 2024.
• South Korea Foreign Exchange Reserves was measured at 391.9 USD bn in Dec 2024.
• The Foreign Exchange Reserves equaled 7.1 Months of Import in Dec 2024.
• South Korea Domestic Credit reached 3,624.4 USD bn in Sep 2024, representing an increased of 5.3 % YoY.
• The country's Non Performing Loans Ratio stood at 0.4 % in Sep 2024, compared with the ratio of 0.4 % in the previous quarter.

Key information about United Kingdom Household Debt: % of GDP

• United Kingdom household debt accounted for 81.6 % of the country's Nominal GDP in Sep 2024, compared with the ratio of 81.8 % in the previous quarter.
• UK household debt to GDP ratio is updated quarterly, available from Mar 1987 to Sep 2024.
• The data reached an all-time high of 108.5 % in Mar 2010 and a record low of 55.6 % in Mar 1987.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. Office for National Statistics provides Household Debt in local currency and Nominal GDP in local currency. Household Debt includes NPISH.


Related information about United Kingdom Household Debt: % of GDP

• In the latest reports, UK Household Debt reached 3,076.4 USD bn in Sep 2024.
• Money Supply M2 in UK increased 2.2 % YoY in Dec 2024.
• UK Foreign Exchange Reserves was measured at 112.5 USD bn in Jan 2025.
• The Foreign Exchange Reserves equaled 1.4 Months of Import in Oct 2024.
• UK Domestic Credit reached 4,866.2 USD bn in Dec 2024, representing an drop of 1.3 % YoY.
• The country's Non Performing Loans Ratio stood at 1.0 % in Dec 2022, compared with the ratio of 1.0 % in the previous year.

This dataset provides values for PRIVATE DEBT TO GDP reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Key information about Turkey Household Debt

• Turkey Household Debt reached 107.8 USD bn in Jan 2025, compared with the reported number of 106.7 USD bn in the previous month
• Turkey Household Debt: USD mn data is updated monthly, available from Jan 1986 to Jan 2025
• The data reached an all-time high of 155.3 USD bn in Oct 2013 and a record low of 74.0 USD mn in Feb 1989

CEIC converts monthly Household Debt into USD. The Central Bank of the Republic of Turkey provides Household Debt in local currency. The Central Bank of the Republic of Turkey 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 Turkey Household Debt

• In the latest reports, Turkey Household Debt accounted for 10.0 % of the country's Nominal GDP in Sep 2024
• Money Supply M2 in Turkey increased 495.4 USD bn YoY in Jan 2025
• Turkey Foreign Exchange Reserves was measured at 83.5 USD bn in Dec 2024
• The Foreign Exchange Reserves equaled 3.1 Months of Import in Jan 2025
• Turkey Domestic Credit reached 589.1 USD bn in Jan 2025, representing an increased of 36.1 % YoY

Abstract copyright UK Data Service and data collection copyright owner.The Opinions and Lifestyle Survey (formerly known as the ONS Opinions Survey or Omnibus) is an omnibus survey that began in 1990, collecting data on a range of subjects commissioned by both the ONS internally and external clients (limited to other government departments, charities, non-profit organisations and academia).Data are collected from one individual aged 16 or over, selected from each sampled private household. Personal data include data on the individual, their family, address, household, income and education, plus responses and opinions on a variety of subjects within commissioned modules. The questionnaire collects timely data for research and policy analysis evaluation on the social impacts of recent topics of national importance, such as the coronavirus (COVID-19) pandemic and the cost of living, on individuals and households in Great Britain. From April 2018 to November 2019, the design of the OPN changed from face-to-face to a mixed-mode design (online first with telephone interviewing where necessary). Mixed-mode collection allows respondents to complete the survey more flexibly and provides a more cost-effective service for customers. In March 2020, the OPN was adapted to become a weekly survey used to collect data on the social impacts of the coronavirus (COVID-19) pandemic on the lives of people of Great Britain. These data are held in the Secure Access study, SN 8635, ONS Opinions and Lifestyle Survey, Covid-19 Module, 2020-2022: Secure Access. From August 2021, as coronavirus (COVID-19) restrictions were lifting across Great Britain, the OPN moved to fortnightly data collection, sampling around 5,000 households in each survey wave to ensure the survey remains sustainable. The OPN has since expanded to include questions on other topics of national importance, such as health and the cost of living. For more information about the survey and its methodology, see the ONS OPN Quality and Methodology Information webpage.Secure Access Opinions and Lifestyle Survey dataOther Secure Access OPN data cover modules run at various points from 1997-2019, on Census religion (SN 8078), cervical cancer screening (SN 8080), contact after separation (SN 8089), contraception (SN 8095), disability (SNs 8680 and 8096), general lifestyle (SN 8092), illness and activity (SN 8094), and non-resident parental contact (SN 8093). See Opinions and Lifestyle Survey: Secure Access for details. Main Topics:Each month's questionnaire consists of two elements: core questions, covering demographic information, are asked each month together with non-core questions that vary from month to month. The non-core questions for this month were: SunSmart (Module 327): this module was asked on behalf of Cancer Research UK to find out whether respondents had heard of SunSmart 2002 and what the main messages of the campaign were. This module has been run since February 2003 to monitor awareness levels pre and post-campaign. Financial capability (Module 336): the purpose of this module was to gain a general view of how respondents who have a mortgage or rent their property would cope with a change to their circumstances, such as an increase to their mortgage or rent payment or a rise in interest rates. It also asks all respondents about type and amount of debt and how the individual or family who have a mortgage or rent their property would cope with 'shock' changes to income. Disability monitoring (Module 363): the Special Licence version of this module is held under SN 6470. Use of HRT (Module 368): the National Health Service is interested in women's use of cancer screening services, in particular breast cancer screening and cervical cancer screening. The module also asks about the use of hormone replacement therapy (HRT). Road accidents (Module MAU): this module was asked on behalf of the Department for Transport which is interested in finding out about road accidents that people have been involved in. Travel horizons (Module MAV): this module was asked on behalf of the Department for Transport which is interested in groups of people who are less likely than others to travel and how this relates to work patterns and finding work. Multi-stage stratified random sample Face-to-face interview 2006 ADULTS AGE BREAST SCREENING BUSES BUSINESS OWNERSHIP BUSINESSES CARS CERVICAL SMEARS CHILDREN COHABITATION COMMUNITIES COMMUTING CONTRACEPTIVE DEVICES CREDIT CARD USE CYCLISTS DEBTS DISABILITIES ECONOMIC ACTIVITY EDUCATIONAL BACKGROUND EDUCATIONAL CERTIFI... EDUCATIONAL STATUS EMPLOYEES EMPLOYERS EMPLOYMENT EMPLOYMENT HISTORY EMPLOYMENT PROGRAMMES ETHNIC GROUPS EXPOSURE TO THE SUN FAMILY MEMBERS FINANCIAL COMMITMENTS FULL TIME EMPLOYMENT FURNISHED ACCOMMODA... GENDER General health and ... HEADS OF HOUSEHOLD HOME OWNERSHIP HOME SELLING HORMONE REPLACEMENT... HOUSE PRICES HOUSEHOLDS HOUSING TENURE HYSTERECTOMY ILL HEALTH INCOME INDUSTRIES INJURIES INSOLVENCIES INSURANCE CLAIMS INTEREST RATES Income JOB DESCRIPTION JOB HUNTING LANDLORDS LOANS LOCAL COMMUNITY FAC... MARITAL STATUS MEDICAL CARE MENOPAUSE MORTGAGE ARREARS MORTGAGES MOTORCYCLES Media NATIONAL IDENTITY OCCUPATIONS PARENTS PART TIME EMPLOYMENT PEDESTRIANS PERSONAL DEBT REPAY... POLICE SERVICES PUBLIC HEALTH RISKS PUBLIC INFORMATION PUBLIC TRANSPORT RENTED ACCOMMODATION RENTS ROAD ACCIDENTS ROAD USERS ROAD VEHICLES SAVINGS SHARED HOME OWNERSHIP SKIN CANCER SKIN TYPES SOCIAL HOUSING STATUS IN EMPLOYMENT STUDENT LOANS STUDENTS SUN PROTECTION SUNBATHING SUNBURN SUNTANNING SUPERVISORY STATUS Social behaviour an... Specific diseases TELEVISION TIED HOUSING TRAINS TRANSPORT TRAVEL TRAVELLING TIME Transport and travel UNDERGROUND RAILWAYS UNEMPLOYED UNFURNISHED ACCOMMO... UNWAGED WORKERS Wounds and injuries disorders and medic... property and invest...

External Debt in Pakistan decreased to 131069 USD Million in the fourth quarter of 2024 from 133683 USD Million in the third quarter of 2024. This dataset provides - Pakistan External Debt - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Graph and download economic data for Delinquency Rate on All Loans, All Commercial Banks (DRALACBN) from Q1 1985 to Q4 2024 about delinquencies, commercial, loans, banks, depository institutions, rate, and USA.