Credit card debt statistics (2025): See the trends

When was the last time you used cash to make a purchase? If you're like most people, it's been a while. The Federal Reserve reported that credit cards are the most common payment method for consumers, and people prefer using credit cards rather than cash or debit cards. However, our reliance on credit cards has caused debt to become even more common. After the national credit card debt surpassed $1 trillion for the first time in 2023, it continued to climb to $1.21 trillion at the end of 2024. We compile ...