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.

The tables and interactive maps below allow users to explore the ratio of debt to income by state, metropolitan statistical area, and county for each year since 1999. Household debt is calculated from Federal Reserve Bank of New York (FRBNY) Consumer Credit Panel/Equifax Data, and household income is reported by the Bureau of Labor Statistics.

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

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.

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.

The Survey on Household Income and Wealth (SHIW) is conducted every two years by the Bank of Italy on a sample of about 8,000 households and 24,000 individuals. In 2012 8,151 households have made up the sample from 371 municipalities, composed by 20,022 individuals of whom 12,986 earners. The households interviewed for the first time in this survey were 3,540 and the other 4,611 were panel households. The questionnaire consists of several thematic sections, which are further articulated within, and it is structured in such a way to ensure comparability with the information collected in the previous surveys: Family structure: sociodemographic characteristics of family members Employment and incomes: salary, work characteristics, sector of professional activities for each member Payment instruments and forms of saving: relations with financial institutions, use of payment instruments, savings and investments, expectations toward the future Principal residence, other property and debts: characteristics of property owned, mortgage loans, rents, property expenditures, other debts not in connection with business activity Household expenditures: purchase and sales of goods, average monthly spending on all consumption (food and non-food), perception of the expenditures compared to the past and the future, savings propensity Supplementary pension plans and insurance policies: characteristics of supplementary pension plans owned, life insurance, health insurance, household insurance The questionnaire has also a in-depth focus (annexes) for each professional condition (payroll employees, self-employed worker, family business, working shareholder/partner, pensions and other income sources) and loans (loans for main residence, for other properties than principal residence, for consumer credit, for business purposes). For each section and annex of the questionnaire is released a single file. The Bank of Italy has constructed a set of addictional files concerning to the household and individual incomes, household expenditure and savings, household wealth and about individuals that left the panel household. about 8.150 families and 20.000 individuals. Two-stage stratified random sample Computer-Assisted Personal Interviewing (CAPI)

Key information about Australia Household Debt: % of GDP

• Australia household debt accounted for 116.6 % of the country's Nominal GDP in Mar 2023, compared with the ratio of 118.0 % in the previous quarter.
• Australia household debt to GDP ratio is updated quarterly, available from Jun 1988 to Mar 2023.
• The data reached an all-time high of 129.4 % in Sep 2016 and a record low of 44.2 % in Sep 1988.

CEIC calculates quarterly Household Debt as % of Nominal GDP from quarterly Household Debt and quarterly Nominal GDP. The Australian Bureau of Statistics provides Household Debt in local currency and Nominal GDP in local currency.


Related information about Australia Household Debt: % of GDP

• In the latest reports, Australia Household Debt reached 1,957.6 USD bn in Mar 2023.
• Money Supply M2 in Australia increased 4.1 % YoY in Jun 2023.
• Australia Foreign Exchange Reserves was measured at 37.1 USD bn in Jun 2023.
• The Foreign Exchange Reserves equaled 1.5 Months of Import in May 2023.
• Australia Domestic Credit reached 3,627.0 USD bn in May 2023, representing an increased of 1.9 % YoY.
• The country's Non Performing Loans Ratio stood at 0.8 % in Mar 2023, compared with the ratio of 0.8 % in the previous quarter.