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…

Debt Balance Credit Cards in the United States increased to 1.21 Trillion USD in the second quarter of 2025 from 1.18 Trillion USD in the first quarter of 2025. This dataset includes a chart with historical data for the United States Debt Balance Credit Cards.

Graph and download economic data for Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks (CCLACBM027SBOG) from Jul 2000 to Sep 2025 about revolving, credit cards, loans, consumer, banks, depository institutions, and USA.

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.

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

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

This statistic presents the distribution of credit card debt in the United States in 2019, by generation. In March 2019, ** percent of Millennials had not credit card debt at all, *** percentage point lower than the national rate.

Graph and download economic data for Large Bank Consumer Credit Card Balances: 30 or More Days Past Due Rates: Accounts Based (RCCCBACTDPD30P) from Q3 2012 to Q2 2025 about 30 days +, accounts, FR Y-14M, credit cards, consumer credit, large, balance, loans, consumer, banks, depository institutions, rate, and USA.

Total credit card debt in the UK grew by over ****billion British pounds between March and April 2025, now reaching a similar level of debt as seen in early 2020. The annual growth rate of credit card debt stayed about the same in April 2025, reaching *** percent when compared to aApril 2024. The growth rate in 2024 has been decreasing until 2025 where it started to increase again, which may potentially be attributed to growing interest rates and the cost of living crisis.

Households Debt in the United States decreased to 68.30 percent of GDP in the first quarter of 2025 from 69.40 percent of GDP in the fourth quarter of 2024. This dataset provides - United States Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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.

Consumer Credit in the United States decreased to 0.36 USD Billion in August from 18.05 USD Billion in July 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.

Graph and download economic data for Charge-Off Rate on Credit Card Loans, All Commercial Banks (CORCCACBN) from Q1 1985 to Q2 2025 about charge-offs, credit cards, commercial, loans, banks, depository institutions, rate, and USA.

Credit card delinquency reached its highest level since 2019 in the first quarter of 2024, whereas mortgage delinquency declined to its lowest level. This is according to consumer data supplied by large banks that have to report such figures when handling over 100 billion U.S. dollars worth of assets. 3.56 percent of credit card balances were 30 days late - the highest percentage since tracking began in 2012. First-lien mortgage origination remained historically low, likely due to high interest rates and housing prices. Note the graphic shown here is different from another source on credit card delinquency rates in the U.S., as those figures are aggregates.

The consumer debt settlement market is experiencing robust growth, driven by increasing household debt levels and a rising awareness of debt relief solutions. The market's expansion is fueled by factors such as economic instability, rising inflation, and the increasing accessibility of online debt settlement services. While precise figures for market size and CAGR are not provided, based on industry reports and the presence of numerous established players like Freedom Debt Relief and National Debt Relief, we can reasonably infer a substantial market value. Assuming a conservative market size of $5 billion in 2025 and a moderate CAGR of 8% (consistent with similar financial services markets), we can project continued significant growth through 2033. The market is segmented by service type (negotiation, consolidation, etc.), consumer demographics, and geographic regions. Major players are constantly innovating to enhance their services and attract clients, including improved online platforms, personalized financial counseling, and more transparent pricing models. However, the market faces certain restraints. Stringent regulations regarding debt collection practices, consumer skepticism about debt settlement companies, and the potential for negative impacts on credit scores can hinder growth. Effective marketing and building trust through transparency are crucial for companies to overcome these obstacles. The competitive landscape is intense, with established players vying for market share against emerging companies and online platforms. Companies are focusing on differentiation through enhanced customer service, specialized debt solutions, and strategic partnerships to maintain a competitive edge. The regional distribution of market share likely reflects economic factors and debt levels in different geographic areas, with North America and Europe potentially holding the largest shares. Future growth will depend on economic conditions, regulatory changes, and the ongoing evolution of consumer behavior and financial literacy.

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).

The average consumer debt balance in the United States has peaked in 2024 at roughly 105,100 U.S. dollars. However, average consumer debt had decreased between 2010 and 2013, when it reached approximately 85,500 U.S. dollars. Here, consumer debt refers to student and car loans, credit cards, personal loans, mortgages, and other types of debt.

Key information about United States Total Debt: % of GDP

• United States Total Debt accounted for 722.0 % of the country's GDP in 2024, compared with the ratio of 722.0 % in the previous quarter.
• US Total Debt: % of GDP data is updated quarterly, available from Dec 1951 to Sep 2024.
• The data reached an all-time high of 834.9 % in Mar 2021 and a record low of 309.4 % in Jun 1953.

CEIC calculates quarterly Total Debt as % of Nominal GDP from quarterly Total Debt and quarterly Nominal GDP. Total Debt is calculated as sum of Liabilities for NonFinancial Business, Federal Government, State and Local Government, Households & Nonprofit Organizations and Financial Business less Mutual Fund Shares. Federal Reserve Board provides Total Debt in local currency. Bureau of Economic Analysis provides Nominal GDP in local currency.