How Many Americans Have Credit Cards? Ownership, Balance-Carrying, and Application Rates

Eighty-two percent of American adults had a credit card in 2025, according to the Federal Reserve's Survey of Household Economics and Decisionmaking, down from a high of 84% in 2021. But having a card and paying it off each month are different things: 45% of cardholders carried a balance at least once during the year, meaning nearly half are paying interest on what they owe, adding to overall household debt.

Ownership rates and balance-carrying rates both split sharply by income, age, and race, with lower-income and younger adults less likely to have a card and more likely to carry debt when they do.

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

82% of Americans have a credit card, but ownership is uneven

Credit cards are common, 82% of American adults have at least one, but they're not evenly distributed. Here's how ownership breaks down, based on data from the Federal Reserve:

• Income makes the biggest difference. Nearly all adults earning $100,000 or more (97%) have a credit card, compared to just 46% of those earning under $25,000. That rises to 71% of adults earning $25,000 to $49,999 and 88% of those earning $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, compared to 65% among adults 18 to 29 and 78% among those 30 to 44.
• White and Asian adults lead in card ownership. 87% of white adults and 90% of Asian adults hold credit cards, versus 68% of Black adults and 72% of Hispanic adults. Adults with a disability have a credit card at a rate of 70%, compared to 85% of those without one.
  
  

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.

How often do Americans carry a credit card balance?

Owning a card and paying it off each month are not the same thing. In 2025, 55% of cardholders said they never carry an unpaid balance, according to the Federal Reserve, but 22% carry one most or all of the time, and another 18% carry one some of the time.

• Most cardholders paid their bill last month. 91% of cardholders paid at least the minimum payment on all their cards in the most recent month. Three percent paid less than the minimum on at least one card.
• Frequent balance-carrying is concentrated at lower incomes. 52% of cardholders earning under $25,000 carried a balance at least once in 2025, compared to 37% of those earning $100,000 or more. The gap is similar by race: 72% of Black cardholders carried a balance, compared to 40% of white and 24% of Asian cardholders.
• The share carrying balances has fallen over the past decade. 45% of cardholders carried a balance at least once in 2025, down 12 percentage points from a decade earlier, according to the Federal Reserve.

Cardholders who carry a balance accumulate interest, and the average credit card interest rate, has remained elevated in recent years.

23% of adults applied for a credit card in 2025, and rejection rates fell

About 33% of American adults applied for some form of credit in the 12 months covered by the 2025 Federal Reserve survey. Of those applicants, 71% applied for a credit card, translating to roughly 23% of all adults. Among all applicants, 26% were denied credit of any kind, and 19% were approved for less than they requested.

• Many who wanted credit didn't apply. 11% of non-applicants said they desired credit but chose not to apply. Of those, 59% held back because they expected to be turned down, a sign that perceived rejection risk is keeping some adults out of the credit market entirely.
• Rejection rates fell in early 2026. 12.9% of credit card applicants were rejected in February 2026, according to the Federal Reserve Bank of New York's Survey of Consumer Expectations, down from roughly 21% to 22% throughout most of 2024 and 2025.
• Caution persists despite easier approvals. About 31% of prospective applicants still expected to be turned down as of February 2026, a gap between perceived and actual rejection rates that has remained persistent over time.

The easing in rejections may reflect loosening lender standards or a shift in the applicant pool toward more credit-worthy borrowers. The data does not distinguish between the two. For a look at how much Americans owe on their cards, see average credit card debt in America.

Tips for picking the best credit card

America's credit card landscape is a story of wide ownership but uneven access. Eighty-two percent of adults have a credit card, but ownership rates differ significantly 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.

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