Credit Card Statistics

Last Updated on: March 13th, 2023

Here is a collection of some of the most interesting credit card statistics and facts I have stumbled across in my internet travels. These posts cover both the industry and individual banks.

Credit Card Fun Facts

The first credit card was introduced in 1950 by Diners Club, which was originally designed to be used only at restaurants.
The first credit card with a magnetic stripe was introduced in 1969 by Standard Oil and was called the “Oil Card.”
The first universal credit card was introduced by Bank of America in 1976, which could be used at multiple merchants and had a credit limit of up to $300.
The first rewards program on a credit card was introduced in 1984 by American Airlines and its AAdvantage program.
The credit card with the highest annual fee is the American Express Centurion Card, which costs $5,000 per year.
The average credit card debt in the United States is around $5,315 per person, as of 2021.
The first credit card with an embedded microchip for added security was introduced in France in 1986.
The first contactless credit card was introduced in 1997 by Visa in the United Kingdom.
The first mobile payment service using a credit card was introduced by Apple in 2014 with Apple Pay.
The most popular credit card in the United States is the Visa card, followed by Mastercard and American Express.