Astounding Card Statistics, Vol. 1

Welcome to the first installation of our continuing blog series, Astounding Card Statistics! Within, you will find some numbers – some disturbing, others soothing – on credit card use, abuse, and more. As a merchant, you can stay informed of all the current industry happenings, and stay alert. Vision Payment Solutions strives to educate its clientele – and arm them with all the information they need in the confusing world of credit cards, so merchants just like you can stay ahead of the curve!

Most popular statistics (according to searches)

  • Average credit card debt per household with credit card debt: $15,799
  • 609.8 million credit cards held by U.S. consumers. (Source: “The Survey of Consumer Payment Choice,” Federal Reserve Bank of Boston, January 2010)
  • Average number of credit cards held by cardholders: 3.5 (Source: “The Survey of Consumer Payment Choice,” Federal Reserve Bank of Boston, January 2010)
  • Average APR on a new credit card offer: 14.89 percent (Source: CreditCards.com Weekly Rate Report, July 20, 2011.)
  • Average APR on a credit card with a balance on it: 13.10 percent, as of May 2011 (Source: Federal Reserve’s G.19 report on consumer credit, released July 2011)
  • Total U.S. revolving debt (98 percent of which consists of credit card debt): $793.1 billion, as of May 2011 (Source: Federal Reserve’s G.19 report on consumer credit, released July 2011)
  • Total U.S. consumer debt: $2.43 trillion, as of May 2011 (Source: Federal Reserve’s G.19 report on consumer credit, released July 2011)
  • U.S. credit card 30-day delinquency rate: 3.3 percent. (Source: Moody’s, May 2011)

Total credit cards in circulation in U.S.
(Through year-end 2010, unless otherwise noted)

  • American Express credit: 48.9 million (Source: AmericanExpress.com)
  • MasterCard credit: 171 million (Source: MasterCard)
  • MasterCard debit: 123 million (Source: MasterCard)
  • Visa credit: 269 million, as of Sept. 30, 2010 (Source: Visa)
  • Visa debit: 397 million, as of Sept. 30, 2010 (Source: Visa)
  • Discover cards: Data Unavailable

Customer satisfaction

(J.D. Power and Associates 2010 Credit Card Satisfaction Study Rankings)

  1. American Express
  2. Discover
  3. US Bank
  4. Wells Fargo
  5. Chase
  6. Barclaycard
  7. Bank of America
  8. Capital One
  9. Citi
  10. HSBC

(Source: J.D. Power and Associates)

Bankruptcy/delinquency

  • U.S. credit card 60-day delinquency rate: 4.27 percent. (Source: Fitch Ratings, April 2010)

Business credit cards

  • Credit cards are now the most common source of financing for America’s small-business owners. (Source: National Small Business Association survey, 2008)
  • 44 percent of small-business owners identified credit cards as a source of financing that their company had used in the previous 12 months – more than any other source of financing, including business earnings. In 1993, only 16 percent of small-businesses owners identified credit cards as a source of funding they had used in the preceding 12 months. (Source: National Small Business Association survey, 2008)