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US Credit Cards Market Report 2025

US Credit Cards Market Report 2025

Market Intelligence Reports Credit Cards US

US Credit Cards Market Analysis

The US credit card market reached a significant number of accounts by Q1 2025, though growth patterns vary by generation and face headwinds from economic uncertainty including potential tariff impacts. Looking ahead, AI-driven recommendations are influencing card selection among younger consumers, while issuers anticipate investing in digital card aesthetics and customizable interfaces which can help them gain credit cards market size.

US Credit Cards Market Trends

Consumers are favoring cash back rewards, particularly those in financially strained situations, viewing it as a practical financial tool.

Younger generations, especially Gen Z and Millennials, prefer using credit cards through mobile wallets but still value physical card design as a form of self-expression.

Credit card sign-ups are driven by the need to build credit history, with Gen Z particularly focused on establishing their financial footprint.

Students seek a combination of rewards, lower APRs, and credit-building features, while AI-driven tools for card recommendations are popular for personalized choices.

About The Report

The US Credit Cards Market Report 2025 offers in-depth insights into the Credit Card Market in the US, focusing on consumer behavior, reward preferences, motivations for card sign-ups, and the influence of economic factors like inflation. It explores key areas such as cash back versus points rewards, mobile wallet usage, the importance of physical card design, and AI-driven credit card recommendations. The Credit Cards Market Report surveyed 2,000 internet users aged 18+ in May 2025, covering aspects like credit card usage, redemption habits, attitudes towards fees, and financial situations. Financial institutions, credit card issuers, marketers, and consumer behavior analysts will benefit from this report by gaining a deeper understanding of consumer trends, enabling them to make informed strategic decisions and cater to evolving market demands. Brands can strategize in gaining credit cards market share.

Key Topics Analyzed in the Report

Types of earned rewards
Rewards redemption
Reasons for not owning a credit card
Credit card sign-up motives
Most prioritized credit card features
Behaviors and attitudes toward credit cards

Report Attributes	Details
Published Date	September 2025
Data Range	2019 – 2030
Measurement Metrics	Revenue in US $
Country Focus	United States of America (USA)
Consumer Data	2,000 internet users aged 18+, May 2025
Number of Pages	53
Market Segmentation	Credit Cards, Cash Back Rewards, Rewards Points, Airline Miles, Store Credit, Travel Rewards, and Debit Cards.
Leading Companies	Apple, Chase, Discover, and PayPal

Meet the Expert Behind the Analysis

This report was written by Amr Hamdi. Amr joined Mintel in 2021 with a background in economics and previous work experience at the Federal Reserve. In his role, he leverages consumer research, competitive marketing analysis, and industry trends to provide detailed consumer reports around diverse topics such as banking, fintech, insurance, and investments.

The credit card industry is undergoing rapid change – fueled by renewed economic uncertainty, AI-driven decision-making and shifting consumer priorities.

Amr Hamdi

Senior Analyst – Financial Services

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EXECUTIVE SUMMARY
- What you need to know
- Issuers must shift the rewards narrative when engaging with financially struggling consumers
- Graph 1: lack of credit card redemption, by financial situation, 2025
- Partner with universities to demystify credit and capture prospects from an early age
- Graph 2: reasons for not owning a credit card, by student status, 2025
- While the mobile wallet reigns supreme, young users still want physical cards as an outlet to reflect their style
- Graph 3: mobile wallet preferences and importance of card design, by generation, 2025
- The Apple Card bridges its aesthetic appeal across physical and digital mediums
- Market predictions
- Opportunities
- Women are an addressable market for hotel rewards
- Graph 4: rewards earn from primary credit cards, by gender, 2025
- Graph 5: average number of nights stayed in a hotel/paid accommodation in the past 12 months, by gender, 2024
- Diverging motives highlight the importance of matching card marketing to one’s financial life stage
- Graph 6: top ranked credit card sign-up motives, by self-reported credit score, 2025
MARKET DYNAMICS
- Market context
- Market size and drivers
- Despite growing card openings, the economic fallout from tariffs will likely halt this momentum
- Graph 7: number of credit card accounts, 2020-25
- Credit applications are stabilizing for Gen Zers, while Gen Xers sharply pulled back
- Graph 8: timing of most recent credit card opening, by generation, 2022-25
- While credit card debt is rising, context matters
- Graph 9: total credit card balance, 2020-25
- Delinquency rates keep climbing, and impending economic softening is unlikely to offer relief
- Graph 10: percent of credit card balance 90+ days delinquent, 2022-25
CONSUMER INSIGHTS
- Consumer fast facts
- Type of earned rewards
- Cash back remains the dominant earn standard, while fragmentation defines the rewards space
- Graph 11: rewards earn from primary credit cards, 2025
- Card-exclusive rewards can deepen engagement with young adults
- Graph 12: rewards earn from primary credit cards, by generation, 2025
- Travel rewards serve as a bridge to long-term loyalty
- Graph 13: rewards earn from primary credit cards, by generation, 2025
- Position cash back as a financial buffer for tighter budgets
- Graph 14: rewards earn from primary credit cards, by financial situation, 2025
- Rewards redemption
- The convenience and liquidity of cash back resonates with over half of cardholders
- Graph 15: credit card redemption, 2025
- Students’ redemption preferences open the doors for more lifestyle-aligned rewards
- Graph 16: credit card redemption, by student status, 2025
- Redemption preferences reveal differing mindsets towards value across wealth tiers
- Graph 17: credit card redemption, by household investable assets, 2025
- Amex highlights the experiential side of its Platinum Card with a myriad of travel perks
- Reasons for not owning a credit card
- Highlighting the safety and tangible value of credit cards can entice adoption among non-holders
- Graph 18: reasons for not owning a credit card, 2025
- Leverage debit as an onboarding tool for the incoming wave of young cardholders
- Graph 19: reasons for not owning a credit card, by generation, 2025
- Credit card sign-up motives
- Leading with credit-building value propositions will win over first-time cardholders
- Graph 20: credit card sign-up motives, 2025
- Gen Zers are focused on building their credit footprint; leverage secured cards with tangible rewards to win over their long-term loyalty
- Graph 21: top ranked credit card sign-up motives, by generation, 2025
- Students weigh a diverse trifecta of rewards, progress and cost when opening a new card
- Graph 22: credit card sign-up motives, by student status, 2025
- Prioritized credit card features
- Consumers’ ideal credit card provides a tailored rewards experience and visible progress
- Graph 23: ideal features of a new credit card, 2025
- Periodic forgiveness and flexibility are card features that will resonate with subprime users
- Graph 24: ideal features of a new credit card, by financial situation, 2025
- Customer context must remain top-of-mind to not lose resonance
- Graph 25: ideal features of a new credit card, by financial situation, 2025
- Behaviors and attitudes toward credit cards
- Issuers must illuminate tangible value and not just premium optics
- Graph 26: attitudes toward annual fees, by generation, 2025
- Support-driven outreach remains critical to sustain relationships with revolving users
- Graph 27: attitudes toward credit card debt, by credit users and financial situation, 2025
- AI-driven card recommendations raise the bar for issuers to deliver broad value
- Graph 28: use of generative AI to recommend credit cards, by generation and student status, 2025
- Flexible annual fee payment plans are an unmet need for financially tight and struggling customers
- Graph 29: attitudes toward annual fees, by financial situation, 2025
INNOVATION AND MARKETING STRATEGIES
- Marketing and advertising
- Brands showcase how debit rewards can build early loyalty with young customers – before credit cards enter the picture
- Chase goes all in on highlighting the value of its Sapphire Reserve
- Discover highlights its wide array of card designs across its Student Card for stronger engagement with young prospects
APPENDIX
- Consumer research questions
- Consumer research methodology
- Generations
- Abbreviations and terms

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