Federal Reserve 2025 household economic data found 33% of US adults applied for credit that year. One third of those applicants were denied or approved for less than requested.

Separate 2024 data from the central bank documents sharp differences in credit card use by household income. Households earning less than $25,000 used credit cards for 17% of payments. Households earning over $150,000 used credit cards for 51% of payments.