United States Credit Card Market Outlook 2023-2026: Application Rates Soar Above Pandemic Lows

DUBLIN, Jan. 25, 2023 /PRNewswire/ -- The "2023 US Credit Card Market Outlook" report has been added to  ResearchAndMarkets.com's offering.

The 2023 Credit Card Market Outlook report provides comprehensive guidance on trends shaping credit card growth - including co-branded and private label cards, bank issuers, and card networks - and forecasts payment value growth through 2026.

Credit cards have come out of the pandemic stronger than ever: Adoption rates, usage frequency, and payment value have each reached new highs - and continued payment value growth is expected. But a host of challenges await, including usage normalization and the prospect of recession; buy now, pay later competition; and regulatory scrutiny of key revenue streams.

More specifically, the report:

• Trends and forecasts credit card payment value by major payment network, including credit cards, debit cards, consumer credit cards, and small business credit cards.
• Analyzes credit card usage trends by payment network, including standard, signature, small business, and other card types, with demographic analysis - and credit card usage trends by bank issuer, with demographic analysis.
• Analyzes reward card trends, including share of card spend overall and type of reward earned (cash, points, miles).
• Trends co-branded and private label credit card usage by card type/brand, with demographic analysis.
• Trends and analyzes household debt and spending behaviour, including loan delinquencies, the debt service ratio, active credit card users, share of consumer payment volume and value made by payment method, and general-purpose credit card payment value share of consumer expenditures.
• Trends and analyzes important credit card metrics, including account growth rates and application rates, future application intention, outstanding credit card balances, and share of consumers who revolve their credit card balances.
• Identifies and analyzes credit card regulation pain points, including interest, late fees, and merchant fees.
• Analyzes credit card innovation trends, including travel and entertainment portals, expanding credit access; trends in digital payment service usage by Digital wallet, with demographic analysis; and analyzed contactless payment usage for digital wallets and cards, with demographic analysis.

Companies Featured:

• VISA
• AMEX
• Wells Fargo
• TD Bank
• Goldman Sachs
• Synchrony Financial
• American Express
• Delta
• Capital One
• Kohl's
• PayPal
• Venmo
• Zelle
• Apple Pay
• Cash App/Square Cash
• Google Pay

Key Topics Covered:

Chapter 1: Executive Summary

• Scope of Report
• Report Methodology
• Market Overview
• Macro Trends
• Credit Card Industry Drivers
• Credit Card Regulation Trends
• Credit Card Payment Value Trends
• Credit Card Usage Trends by Payment Network and Bank Issuer
• Credit Card Usage Trends by Payment Network
• Credit Card Usage Trends by Bank Issuer
• Rewards, Co-Branded, and Private Label Credit Card Usage Trends
• Credit Card Innovation Trends

Chapter 2: MacroTrends

• Staying Strong: Household Debt and Spending Trends
• Household Debt Balances Above Pre-Pandemic Levels by $2.4 Trillion
• Delinquency Rates on Current Debt Rise
• But Household Debt Service Ratio Remains Well Below Great Recession Levels
• But Spending Remains Robust
• Card-Based Spending Remains Strong
• Travel Spending Passes Pre-Pandemic Levels
• Credit Card Payments Lead the Consumer Payment Charge
• Cards Are More Prevalently Used Than Cash
• Consumers Use Credit Cards for More Than One-Quarter of Their Payments
• Credit Card Dollar Share of Consumer Payments Surpasses Debit
• General-Purpose Credit Cards Pick Up Consumer Spending Share
• Digital Engagement Strengthens
• Online/Remote Payments Share on the Rise
• Alternative Payments: An Increasingly Competitive Threat
• Credit Card Issuers Adopt Payment Flexibility Features to Adapt

Chapter 3: Credit Card Industry Drivers

• Expect Normalization
• U.S. Quarterly Credit Card Account Growth Plateaus
• Credit Card Application Trends Remain Strong
• Application Rates Soar Above Pandemic Lows
• High-Fico Skew
• Future Application Intention Bodes Well for Demand
• Credit Card Balances and Delinquencies Jump in 2022
• The Card Revolver Situation
• Consumer Revolving Behavior
• Credit Card Revolving Behavior: Demographics

Chapter 4: Credit Card Regulation Trends

• Credit Card Interest on the Chopping Block?
• Credit Card Late Fees in the Crosshairs
• Credit Card Competition Act Could Pressure Network Fees
• CFPB Studies the Impact of Card Line Decreases

Chapter 5: Credit Card Payment Value Trends

• General-Purpose Credit Card and Debit Card Payment Value Trends
• Credit Card Payment Value Share Holds Steady
• Explosive 2022 Credit Card Growth
• And Record Merchant Fee Revenue
• General-Purpose Credit Card and Debit Card Payment Value Forecast
• Beware Regulation That Can Dampen Future Credit Card Growth
• General-Purpose Card Payment Value by Network: Visa Maintains 50% Share
• General-Purpose Payment Value Trends: Consumer Vs. Commercial
• Consumer Credit Card Payment Value Share Grows
• Visa: Consumer and Commercial Consumer Credit Card Payment Value Leader
• Small Business Credit Card Payment Value Surpasses $750 Billion
• Visa Small Business Credit Cards Increase Lead Over American Express

Chapter 6: Credit Card Usage Trends by Payment Network and Bank Issuer

• General-Purpose Credit Card Usage Trends, by Network
• Trending in the Right Direction
• Standard Cards Types Predominate
• General-Purpose Credit Cards Demographics by Network
• Chase Tops Bank Issuers
• More Than a Quarter of U.S. Adults Have at Least One Chase-Branded Credit Card
• Credit Card Ownership Demographics Among Major Issuers
• Chase, Citibank, and American Express Cardholders Skew Most to Higher Household Incomes
• Who Have a Credit Card in Their Own Name)
• Wells Fargo, Td Bank, and Goldman Sachs Bank Score With Gen Z
• Hispanic and Black Card Ownership is Less Likely - With Exceptions

Chapter 7: Rewards, Co-Branded, and Private Label Credit Card Usage Trends

• Credit Cards Are on a Roll
• Taking a Bite Out of Cash
• Usage Penetration Surpasses Pre-Pandemic Levels
• Half of Credit Card Users Have at Least Three Cards
• Credit Card Rewards Make the World Go Round
• Rewards Cards Generate 90% of General-Purpose Card Spend
• Deep Subprime Scorers Are on the Bandwagon
• New Redemption Innovations
• Sprucing Up Travel and Entertainment Rewards and Perks
• Cash is King
• Cash-Back Cards Also Trump Points and Miles Cards on Adoption
• Cash for Crypto?
• Crypto Cards
• Co-Branded Credit Cards Weather the Storm
• Three in 10 Consumers Have a Co-Branded Credit Card; Department Store Cards Falter
• Department Store and Discount Store Co-Brands Suffer Longer-Term Declines
• Co-Branded Cardholder Demographics
• Synchrony Financial Reports Continued Growth
• American Express Rides Delta Strength
• Capital One Makes Its Moves
• Wells Fargo Keeps Private-Label Credit Card Unit - for Now
• Digital Co-Brands Are the Cards to Beat
• Private-Label Credit Cards Face Continued Challenges
• Top Card? Kohl's Charge
• But Usage Declines Among Top Private-Label Cards Continue
• Five-Year Trend: Target Card Goes Against the Grain
• Private Label Cardholder Demographics
• Retailer Loyalty Programs Increasingly Separate from Private Label Enrollment
• Major Private Label Credit Card Issuers Are Diversifying into Higher-Growth Areas
• Times Are Tough: Victoria's Secret and Kohl's Go Cobrand

Chapter 8: Credit Card Innovation Trends

• The Power of Travel and Entertainment Portals
• American Express: a Pioneer Continues to Innovate
• But the Portal Field is Getting Crowded
• Amex Adds a Twist
• Expanding Credit Access
• BNPL and Credit Cards Lead the Way
• Thin File? There's a Credit Card for You
• Secured Cards Enjoying a Renaissance?
• Seamless Upgrade to Unsecured Card
• No Credit Score, No Problem
• Building Credit as a Family
• Soft Credit History Pulls That Don't Ding Your Credit Score
• Digital Payment Services Gain Traction - Credit Cards Left Behind
• Paypal Stays on Top - But Competitors Are Gaining Ground
• Digital Payment Service User Demographics
• Credit Cards Lag Other Mobile App Funding Methods - But It Varies by App
• Contactless Card Issuance and Adoption
• Contactless Wallet and Card User Demographics
• Appendix
• Market Size and Forecast Methodology
• Definitions

For more information about this report visit https://www.researchandmarkets.com/r/wop7do-us-credit?w=5

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