On December 27, the CFPB released its biennial report on the state of the U.S. credit card market, finding that the total amount of credit lines, the total number of credit accounts, the total number of enrollments in online services, and the total amount of debt have increased since 2015. The report also found that the overall credit card cost to consumers has “proved largely stable” since 2015. Among other things, the report concludes:

  • The total amount of credit lines has increased steadily since the recession but still remains below the mid-2008 high of $4.4 trillion.
  • Over the last two years, credit card debt averages have increased by more than nine percent.
  • Credit card originations have increased by roughly 50 percent since 2010 but still remain below pre-recession volumes.
  • More than 60 percent of active credit card accounts enroll in online services.

Consumers average fewer credit cards than before the recession, and more consumers are signing up for secured credit cards.