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UK Credit Card Statistics
Updated July 2025
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Highlights
£1 trillion was spent on UK cards in 2024 (credit cards accounted for around £249 million, 25% of the total).
65% of UK adults (35.3 million) owned a credit card in 2024, more than 3 times as many as had an overdraft (21%).
The average monthly spend on UK credit cards was £372 in March 2025, a 10.2% annual increase.
The average amount owed per active credit card was £1,845 in March 2025 (+4.9% YoY).
The average credit card transaction value is £57 (March 2025).
There are 59 million credit cards in the UK, which equates to 1.3 credit cards per adult.
48.6% of the UK’s 53 million credit card accounts are not paid off each month and incur interest.
The average amount owed per active credit card was £1,845 as of March 2025 (+4.9% YoY).
UK residents spent £22 billion on credit cards in March 2025, a 10.2% annual increase.
5% of UK adults (2.8m) are in persistent credit card debt. This figure rises to 15% for lone parents.
20% of credit card applications are declined, lower than the decline rates of loans (31%) and overdrafts (38%).
50% of outstanding credit card debt is held by Lloyds, Barclays and HSBC.
There were 59 million UK credit cards in issue and 53.4 million active credit card accounts in March 2025. That is 9% fewer credit cards in issue compared to 2020.
In March 2025, 48% credit card balances had outstanding interest to pay at the end of the month, significantly less than the 55% during 2020.
37.7 million credit cards (71% of the total) had outstanding balances at the end of March 2025 (but did not necessarily pay interest).
How many credit cards are there and what proportion pay interest?
UK consumers spent £249 billion on credit card transactions in 2024, 30% more than in 2018.
This figure is set to rise in 2025 as credit card spending was £22 billion in March 2025, 4.5% above the 12-month average.
Outstanding credit card debt was £73.2 billion in March 2025, up 4.5% YoY.
Credit card transactions dropped significantly during the pandemic, from 3.43 billion in 2019 to 3.06 billion in 2020. They have rebounded sharply to 4.5 billion transactions in 2024, the highest on record.
How much is spent on credit cards and per transaction on average?
Employed individuals are twice as likley to own a credit card than unemployed people. 69% of employed individuals hold a credit compared to just 35%% of unemployed people.
Those aged 65-74 were most likely to hold a credit card (78% ownership), and those aged 18-24 had the lowest ownership rate (29%).
Only around half of those renting hold a credit card compared to 8 in 10 homeowners.
As you’d expect, higher income and lower deprivation scores are associated with a higher likelihood of owning a credit card.
Credit card usage amongst UK businesses is also high, according to the latest business finance statistics. They are the most popular form of business finance, with 15% of SMEs reporting the use of business credit cards in 2024.
How does credit card ownership vary by demographics (i.e. age, sex, employment status etc)
The typical amount owed per active credit card was £1,845 as of March 2025 (+4.9% YoY). Despite this, the average spend decreased 3.7% YoY to £735. This suggests people are spending less but paying off even less, likely due to cost-of-living pressures leading to spending cutbacks.
Whilst the average spend per transaction has remained stable at around £55-£57 (between 2018 and 2024), people are using their credit cards more often.
The rise in total spending (£249.44 billion in 2024) is driven by a higher number of transactions, not larger purchases.
How much to people borrow and spend on a credit card on average?
Fraud losses on UK-issued credit cards increased annually by 4% to £572.6 million in 2024.
However, fraud prevention has improved. £1.15 billion in attempted credit card fraud being prevented in 2024 which is a record high. That equates to 67p of every £1 attempted being stopped before a loss occurred.
As APP (Authorised Push Payment) fraud prevention improves, fraudsters are shifting back toward card-based scams, especially remote e-commerce.
£1.15 billion in card fraud was prevented in 2024
50% of outstanding credit card debt is held by Lloyds, Barclays and HSBC.
Lloyds Banking Group is by far the largest credit card issuer with a credit card lending portfolio totalling £15.7 billion in 2024. That equates to 21.9% of the £71.7 billion Total UK Credit Card Debt Outstanding (BOE Sept 2024 figure).
It may be a surprise to see NewDay ranked sixth by market share, as it is relatively unknown. It owns brands that include Aqua, Marbles, Opus, and Fluid, but it also provides credit for retailers like AO, Argos, and John Lewis.
Mastercard and Visa still dominate the card schemes, together accounting for over 95% of all UK debit and credit card payments by value.
What the largest credit card issuers in the UK?
Data Sources
- UK Finance: Card Spending Update (March 2025)
- FICO: UK Credit-Card Market Report (March 2025)
- FCA: Financial Lives 2024 survey
- BOE: Money & Credit, (April 2025)
- UK Finance: Annual Fraud Report (2025)
- UK Banks Financial Reports
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