Spending on U.S. cards to top $10 trillion
Topics: U.S. CARDS TRILLION
At the end of 2018, there were 6.96 billion credit, debit, and prepaid cards in circulation in the U.S. That total is expected to reach 8.02 billion at the end of 2023.
Credit cards accounted for 54.17% of spending on all types of cards, down from 54.37% in 2017. Spending on credit cards is project to account for 54.13% in 2023. Outstanding credit card debt was $1.124 trillion at the end of 2018, an increase of 5.8%. Outstandings are projected to reach $1.435 trillion by the end of 2023.
The average amount of a credit card purchase transaction was $90.73 in 2018, up from $89.88 in 2017. In 2023, the average amount is projected to be