More than **** of consumers in the United States pointed to one clear reason in 2024 why their credit cards had maxed out that year. A survey held by a personal finance firm in October 2024 named inflation as the most likely reason why consumers had reached their credit card spending limit, ahead of emergency expenses. The total credit card debt in the United States was over *** trillion U.S. dollars - up ** billion U.S. dollars between Q2 2024 and Q3 2024. The source adds that people who maxed out their cards were likely to fall into credit card delinquency.
Holders of a credit card who maxed out their credit card or came close since March 2022
Method of interview
Online panel
Supplementary notes
The source phrased the question as follows: "Which, if any, of the following would you say are reasons why you maxed out or almost maxed out your credit card?"
Multiple answers were possible.
The source did not provide additional figures on separate demographics, such as age, income, race, or gender.
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Bankrate. (October 16, 2024). Main reasons listed by U.S. credit card holders in 2024 on why they maxed out, or were about to max out, their cards since March 2022 [Graph]. In Statista. Retrieved July 15, 2025, from https://www.statista.com/statistics/1552958/credit-card-utilization-reasons-in-usa/
Bankrate. "Main reasons listed by U.S. credit card holders in 2024 on why they maxed out, or were about to max out, their cards since March 2022." Chart. October 16, 2024. Statista. Accessed July 15, 2025. https://www.statista.com/statistics/1552958/credit-card-utilization-reasons-in-usa/
Bankrate. (2024). Main reasons listed by U.S. credit card holders in 2024 on why they maxed out, or were about to max out, their cards since March 2022. Statista. Statista Inc.. Accessed: July 15, 2025. https://www.statista.com/statistics/1552958/credit-card-utilization-reasons-in-usa/
Bankrate. "Main Reasons Listed by U.S. Credit Card Holders in 2024 on Why They Maxed Out, or Were about to Max Out, Their Cards since March 2022." Statista, Statista Inc., 16 Oct 2024, https://www.statista.com/statistics/1552958/credit-card-utilization-reasons-in-usa/
Bankrate, Main reasons listed by U.S. credit card holders in 2024 on why they maxed out, or were about to max out, their cards since March 2022 Statista, https://www.statista.com/statistics/1552958/credit-card-utilization-reasons-in-usa/ (last visited July 15, 2025)
Main reasons listed by U.S. credit card holders in 2024 on why they maxed out, or were about to max out, their cards since March 2022 [Graph], Bankrate, October 16, 2024. [Online]. Available: https://www.statista.com/statistics/1552958/credit-card-utilization-reasons-in-usa/
