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[Slashdot] - Number of Credit Cards in US Hits All-time High


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The number of credit cards in America hit an all-time high of 520 million in the third quarter of this year, per the New York Fed's household debt and credit report, released Tuesday. From a report: There was a precipitous plunge of more than 100 million credit cards between 2008 and 2010, but we've now more than made up for that decline. Buy now, pay later companies like Affirm aren't included in this tally -- they're still too small to merit their own line in the report. Household debt now totals more than $15 trillion, of which $800 billion is in credit cards, and another $1.4 trillion is in auto loans. "Issuance to borrowers of all scores returned to, or even surpassed, pre-pandemic levels," wrote Fed researchers on the Liberty Street Economics blog.

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