2023 US Credit Card Market Outlook

Report Overview

Rewards cards generate 90% of general-purpose card spend, led by cash back cards. Get the full picture. 

Credit cards have come out of the pandemic stronger than ever: Adoption rates, usage frequency, and payment value have each reached new highs—and continued payment value growth is expected. But a host of challenges await, including usage normalization and the prospect of recession; buy now, pay later competition; and regulatory scrutiny of key revenue streams.

Packaged Facts’ 2023 Credit Card Market Outlook report provides comprehensive guidance on trends shaping credit card growth—including co-branded and private label cards, bank issuers, and card networks—and forecasts payment value growth through 2026. More specifically, the report:

• Trends and forecasts credit card payment value by major payment network, including credit cards, debit cards, consumer credit cards, and small business credit cards.
• Analyzes credit card usage trends by payment network, including standard, signature, small business, and other card types, with demographic analysis—and credit card usage trends by bank issuer, with demographic analysis.
• Analyzes reward card trends, including share of card spend overall and type of reward earned (cash, points, miles).
• Trends co-branded and private label credit card usage by card type/brand, with demographic analysis.
• Trends and analyzes household debt and spending behavior, including loan delinquencies, the debt service ratio, active credit card users, share of consumer payment volume and value made by payment method, and general-purpose credit card payment value share of consumer expenditures.
• Trends and analyzes important credit card metrics, including account growth rates and application rates, future application intention, outstanding credit card balances, share of consumers who revolve their credit card balances.
• Identifies and analyzes credit card regulation pain points, including interest, late fees, and merchant fees.
• Analyzes credit card innovation trends, including travel and entertainment portals, expanding credit access; trends digital payment service usage by Digital wallet, with demographic analysis; and analyzed contactless payment usage for digital wallets and cards, with demographic analysis.