Once the undisputed kings of convenience and rewards, credit cards are now fighting to maintain their relevance. They still offer consumers the power to easily acquire goods and services, providing points or cashback for loyalty, but face increasing competition from other payment options and changing consumer preferences.

This report highlights current credit card usage trends and consumer preferences, offering insights for FIs navigating an increasingly competitive landscape based on a study among 4,634 consumers in the U.S., Canada, and the U.K. that Datos Insights conducted in Q1 2024. As credit card issuers and managers strive to maintain relevance, understanding these dynamics is more critical than ever.

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