Credit Card Ownership Statistics

Ownership of credit cards has been increasing drastically in the last few decades because of the certain benefits of owning a credit card and also because it makes it easier to make certain purchases with a small-term debt where you can pay either in installments over time or pay everything next month when you have the funds.

Whatever the reason, the number of people who use credit cards in the United States is high.

And according to Zippia, 83% of Americans own at least one credit card. So what is the reason behind this high number?

In this article, we will look at credit card ownership statistics in the United States based on different criteria and see who uses credit cards the most and the least.


Key Takeaways

  • 57% of all undergraduate students have a credit card.
  • 23% of Gen X and 13% of baby boomers also have credit cards.
  • About 60% of all Americans own a credit card with a cashback. 
  • About 80% of all open credit card accounts belonging to consumers with prime or above credit consumer scores.

Credit Card Ownership Statistics By Age

Even though most people still use debit cards and credit cards do not play a major role in certain age groups, there are still age groups where the credit card is rising in popularity.

According to a report in 2019, 57% of all undergraduate students have a credit card which is about 27% more than in 2013.

Credit Card Ownership Statistics By Age

23% of Gen X and 13% of baby boomers also have credit cards1.

This number is exceptionally lower than undergraduate students, which shows the difference in people’s outlook on credit cards.

More younger people have credit cards compared to older generations. In addition to these statistics, 83% of college grads between the ages of 21 and 29 have credit cards.

In contrast to baby boomers and Gen X, the highest statistics are those between the age of 21 and 29 in terms of credit card ownership. 2

AgePercentage (2019)
Gen Z31%
Gen X32%
Baby Boomers23%
Silent Generation15%

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Credit Card Ownership Statistics By Credit Card Type

There are many different credit card types that Americans choose to go with. However, some credit cards are in the majority of others because of the financial benefits it offers.

About 60% of all Americans own a credit card with a cashback. About 30% own a low-interest credit card, and the rest either own an airline or retail credit card.

While issuing new credit cards, there are also different offers depending on your credit card type, and the most issued credit card benefit was a 0% balance transfer.

People generally use this card to transfer their debts for easy payments. 3

Type of Credit CardPercentage (2019)
Low-Interest 30%
Travel or other Travel Rewards16%

Credit Scores Of Credit Card Owners

Credit Scores Of Credit Card Owners

About 80% of all open credit card accounts belong to consumers with prime or above credit consumer scores. They own one or more credit cards most of the time.

Around 70% of those with subprime or deep subprime credit card scores still have at least one credit card that they are actively using.

However, even though many people with bad credit scores hold credit cards, the majority of people who own credit cards are those with good credit scores, including spending.

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Which is the Most Popular Type of Credit Card?

Consumers prefer credit cards from which they can benefit the most. They like credit cards that offer points bonuses, zero-interest periods, and other similar benefits. According to a survey, cash-back credit cards are the most popular choice among the majority of Americans. 

Credit Card Ownership Statistics

Let us have a look Credit Card Ownership Statistics based on different factors:

Credit Card Ownership Statistics

1. Number of Credit Cards by State

With an average of 4.54 consumers in New Jersey hold the most number of credit card accounts.

2. Number of Credit Cards By Gender

According to a survey, females have higher number of open credit card accounts as compared to men.

  • Female – 4.5
  • Male – 3.6

3. Number of Credit Cards By Income

The income of a person directly influence a card issuer’s decision because a high-income person is more likely to pay the money back to the issuer. Let us have a look at the average credit card holders on the basis of their income:

IncomeAdults with a credit card
People having income less than $25,00056%
People having income between $25,000 to $49,99985%
People having income between $50,000 to $99,00094%
People having income between $100,000 or more98%

4. Number of Credit Cards By Race

ECOA prohibits discrimination on the basis of race or ethinicity, but access to credit differs greatly between different etinicities. Here’s the data on credit card membership on the basis of race: 4

RaceAdults with a credit card

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The Verdict

In conclusion, credit card ownership is an extremely wide phenomenon in the United States, and people of every age own credit cards; just the amount of people from each age group differs.

Millennials are the top credit card users, and the silent generation is the last in the credit card ownership statistics.

Most people choose to own cashback credit cards, and generally, those with good credit scores choose to hold one or more credit cards.


What is the total number of people in the U.S. who owns a credit card?

As per the Census Bureau 183 million Americans own Credit Card.

On average what is the number of credit cards that a person owns?

An average American holds 2-3 credit cards. 5

How many households in America are debt-free?

Less than 25% of households in America are debt-free.

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