December 15, 2022 – Credit card application processes are so streamlined that it can take only a few minutes from the start of an application to the issuance of a fully functional digital card and associated credit line. No other credit product has the same level of convenience. Consumers have more open individual credit card accounts per person than any other financial product, and credit cards are owned by more consumers than almost any other financial product.

This report highlights various credit card data based on consumer research and provides vital insights for financial institutions that issue credit cards or want to issue credit cards. It is based on a study of 2,006 consumers in the U.S. conducted by Aite-Novarica Group from Q3 to Q4 2022.

Clients of Aite-Novarica Group’s Retail Banking & Payments service can download this report and the corresponding charts.