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Credit Card

Credit Card Facts

Date Updated: June 23, 2021

– The first truly universal credit card was introduced by the Diners’ Club in 1950. Unlike with previous versions, these cards could be used at multiple locations.

– The average customer acquisition cost for credit card companies is about $80 — once you factor in marketing and administrative expenses.

– The average American household receives about 6 credit card offers every month.

– In the United States, there are approximately 160 million credit card holders, which is about half of the total population.

– The credit card industry receives nearly 500,000 applications every day.

– The average credit card balance in the U.S. is about $6,375. Americans pay more than $100 billion in credit card interest and fees.

– The United States is responsible for roughly 25 percent of all credit card transactional volume worldwide, but it’s home to more than half of all credit card fraud. This will likely change as stateside merchants increasingly move to the more secure EMV credit card processing.