Credit cards remain the most prevalent credit product in U.K. consumers’ financial lives, but competition from debit cards, cash, and new payment options such as buy-now-pay-later services is fierce. This report illuminates the paths forward, detailing where credit cards still hold sway and where new opportunities await credit card issuers and managers that are willing to adapt.

This report covers account opening trends associated with major credit cards and store credit cards, outlining consumer adoption rates, financial institution selection drivers, and key preferences of the credit cardholders. It is based on a study among 4,634 consumers in the U.S., Canada, and the U.K. that Datos Insights conducted in Q1 2024.

Clients of Datos Insights’ Retail Banking & Payments service can download this report.