81% of Americans Have Credit Cards, but They Aren't Distributed Equally

More than 4 in 5 American adults have a credit card, but access isn't equal. Ninety-seven percent of those who earn over $100,000 have a credit card compared to just 46% among those who earn $25,000 or less. The divide also cuts across age and race, with younger and non-white or Asian adults applying more often, but getting less credit than they request.

Choosing the right credit card can improve your odds of approval, come with money-saving perks, and help build your credit score. Tools that match you with the best credit cards based on your credit score can help avoid rejections and maximize rewards.

Credit card ownership statistics by age, income, and race

Credit cards are common -- 81% of American adults have at least one -- but they're not evenly distributed. Here's how credit card ownership breaks down, based on data from the Federal Reserve:

• Income makes the biggest difference. Nearly all adults earning $100,000+ (97%) have a card, compared to just 46% of those making under $25,000. That jumps to 74% of adults that make between $25,000 and $49,999 and 89% of adults who make $50,000 to $99,999.
• Older Americans are more likely to have a credit card. 92% of those 60 and older have a credit card. That drops to 63% among adults under 30.
• White and Asian adults lead in card ownership. 86% of white adults and 89% of Asian adults hold credit cards, versus 69% of Black and 72% of Hispanic adults.
  
  

Those disparities in credit card ownership likely reflect income-based approval requirements by credit card issuers and limited credit-building opportunities among lower-income and younger Americans.

71% of Americans applied for a credit card in 2024, led by younger and lower-earning adults

Credit card demand is high, especially among groups that are more likely to already have one. Seventy-one percent of American adults had applied for a credit card from October 2023 through October 2024, including over 60% of high-income Americans, those over 60 years old, and white and Asian Americans -- all groups in which the vast majority already have a card.

Here's how credit card applications break down by demographic:

• Low earners are applying the most. 80% of adults earning under $25,000 applied for a credit card, as did 77% of those who earn $25,000 to $49,999, compared to 65% of those who earn $100,000 or more.
• Younger adults are driving applications. 77% of Americans aged 18 to 29 submitted applications, more than any other age group.
• Non-white groups are applying at higher rates. Asian (82%), Hispanic (79%), and Black (76%) adults outpace white adults (67%) in credit card applications.
  
  

80% of American adults are confident they would be approved for a credit card, but not all are approved

Most Americans -- some 80% -- are confident that if they applied for a credit card they would be approved, but 18% of applicants get rejected.

• Approval confidence climbs with income. 95% of six-figure earners feel sure they'd qualify, compared to just 52% of those making under $25,000.
• Older adults trust the system more. 90% of those 60+ feel confident in their approval odds -- vs. 71% of adults under 30.
• Credit scores determine rejection rates. Overall, 18% of credit card applicants were rejected in February 2025. That jumps to 61% of applicants with a credit score below 620. The rejection rate drops to 10% or less for applicants with scores 680 or above.
  
  

For many Americans, being approved for a credit card feels likely. But ultimately, credit card issuers care more about credit scores -- not confidence. That means it's important to understand what the best credit card is for the credit score you have.

Tips for picking the best credit card for you

America's credit card landscape is a story of wide ownership but uneven access. Eighty-one percent of adults have a credit card, but ownership differs widely by income, age and race. And application activity is highest among those least likely to be approved.

For those looking to get their first credit card, tools that match you with credit cards that fit your credit score can minimize risk and maximize results, especially in a tightening lending environment.