Banking on Increased Credit Card Use in U.S. Economy

Press Release
Jun 23, 2017
Rockville (MD), June 23, 2017 — Since the Great Recession, consumer credit card payment value has increased at a healthy rate. The growth path ahead will be weighted toward increasing the frequency with which consumers use their cards, found market research firm Packaged Facts in the recent report U.S. Consumer Payments Outlook Through 2020.

During 2012-2016, consumer credit card payment value growth handily outstripped personal consumption expenditure growth. Consumer credit card payment value (the value generated by consumer credit cards, not business credit cards) grew by over 7% annually during 2012-2016, more than double the growth rate for market-based personal consumption expenditure during the same period.

However, active credit card usage penetration (monthly usage) remains below levels seen prior to the Great Recession, influenced by usage declines among subprime borrowers. Putting this in perspective, a net $263 billion was cleaved from consumer subprime borrowers’ credit card lines from 2007-2015, resulting in relatively healthy, i.e. less risky, credit card portfolios.

The downside to maintaining less risky card portfolios going forward is that growing the population of users becomes more difficult. With the general-purpose credit card usage pool growing only slowly since the recession, competitive growth strategies rely on getting more cards into the wallets of existing users, and getting them to use their cards more frequently and for a broader variety of purchases. Credit worthy, high-spending affluent consumers are naturally in the competitive crosshairs.

Through 2020, this competitive landscape will only intensify. Active credit card usage penetration is projected to reach 45% in 2020, which translates to 115 million adults who use their credit cards monthly.

Packaged Facts anticipates market growth will come from increased usage frequency, driven in part by consumer preferences for credit cards when transacting online. As it stands now, among online purchasers, credit cards are the payment instrument of choice, with most adults “usually” paying with a credit card.

Free White Paper Available

Packaged Facts is offering a free white paper that further discusses this and related topics featured in U.S. Consumer Payments Outlook Through 2020.

Find the white paper, Consumer Payments Outlook in the U.S.: Opportunities in Emerging Blends of Old and New - White Paper, at:

About “U.S. Consumer Payments Outlook Through 2020”

Packaged Facts’ U.S. Consumer Payments Outlook Through 2020 provides both trended consumer usage, behavior and attitude analysis on consumer payments and market sizes and forecasts through 2020 for key consumer payments instruments and methods. The report emphasizes 2007-2016 survey trending of consumer payment usage and behavior, segmented by payment instrument and method: credit card, debit card, prepaid card, cash, check, online and mobile payments, and P2P and money transfers, with demographic analysis.

View additional information about U.S. Consumer Payments Outlook Through 2020, including purchase options, the abstract, table of contents, and related reports at Packaged Facts’ website:

More Packaged Facts reports on financial services are available for purchase at:

About Packaged Facts

Packaged Facts, a division of, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, consumer packaged goods, and pet products and services. Packaged Facts also offers a full range of custom research services. Reports can be purchased at our company website and are also available through

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