UK credit card statistics

How are Brits using their credit cards?

If used correctly, credit cards can help you to spread out expenses month by month, earn rewards on day-to-day spending and improve your credit score. However, some people are reluctant to use their cards for fear of getting into debt.

We’ve collated the latest statistics on credit card lending, ownership, repayment and spending in the UK. Here’s what we found.

Quick overview

  • As of January 2022, there were 59.9 million credit cards issued to UK residents, this is 4.8 million less than in January 2020 (64.7 million).
  • There were 292 million credit card transactions in January 2022. This is a 48% increase from January 2021.
  • Between 2021 and 2022 contactless payments increased by 80 million.
  • One-fifth (21%) of consumers prefer to use credit cards for expensive items (£100+).
  • The average value of purchases made using a credit card decreased by 9.8% (£6) between January 2020 (£61) and January 2022 (£55).
  • As of February 2022 the average interest rate for credit cards was 18.3%.

Number of credit card accounts

In January 2022, there were 59.9 million credit cards issued to UK residents, an increase of 4.6 million from the previous year. However, between January 2020 to January 2022, there has been a decline of 4.8 million (7.4%) in credit cards issued in the UK.

This is considerably less than the 96.8 million debit cards issued to UK residents in January 2022.

Credit cards Debit cards
January 2022 59.9 million 96.8 million
January 2021 62.8 million 92.2 million
January 2020 64.7 million 97.3 million

Number of credit card transactions

As of January 2022, the volume of credit card transactions has seen an increase of 96 million from the previous year. In January 2021, credit card transaction volumes had dropped by 31% (88 million) since January 2020. Credit card transaction volumes dipped to their lowest point in April 2020.

This could be explained by the national lockdown introduced on 16 March 2020. Levels also dipped in February 2021. Contactless credit card transactions are undoubtedly popular. On average across 2020, contactless credit card transactions accounted for 40% of all credit card transactions. Following this trend, between 2021 and 2022 contactless credit card transactions increased by 80 million.

Our recent survey found that 1 in 5 (21%) Brits would use a credit card for an expensive purchase (100+).

Volume of credit card transactions Contactless credit card transaction
Jan-20 284 million 128 million
Feb-20 275 million 126 million
Mar-20 273 million 108 million
Apr-20 163 million 32 million
May-20 186 million 60 million
Jun-20 227 million 76 million
Jul-20 261 million 106 million
Aug-20 273 million 123 million
Sep-20 281 million 125 million
Oct-20 273 million 122 million
Nov-20 273 million 95 million
Dec-20 291 million 114 million
Jan-21 196 million 71 million
Feb 21 202 million 74 million
Mar 21 257 million 97 million
Apr 21 259 million 116 million
May 21 282 million 133 million
Jun 21 310 million 147 million
Jul 21 313 million 155 million
Aug 21 335 million 160 million
Sep 21 322 million 161 million
Oct 21 319 million 168 million
Nov 21 354 million 174 million
Dec 21 351 million 180 million
Jan 22 292 million 151 million

Credit card lending and repayments, monthly 1993–2022

Gross lending statistics were collected monthly from April 1993 to February 2022 and repayment statistics from January 2010 to February 2022. Throughout the latter period, the 2 statistics follow similar trajectories, with repayments always lower than lending, as expected.

Between February 2019 and February 2022, gross lending saw an decrease of 27%, with repayments increasing by 20%. Compared to the beginning of 2010, when credit card repayment data was first collected, it has increased by 18%, whereas gross lending has increased by an enormous 82%.

Date Gross Lending Credit Card repayments
30-Apr-93 £2,895,000,000 -
31-May-93 £2,730,000,000 -
30-Jun-93 £3,273,000,000 -
31-Jul-93 £3,106,000,000 -
31-Aug-93 £3,054,000,000 -
30-Sep-93 £3,197,000,000 -
31-Oct-93 £2,920,000,000 -
30-Nov-93 £3,312,000,000 -
31-Dec-93 £3,798,000,000 -
31-Jan-94 £3,008,000,000 -
28-Feb-94 £2,702,000,000 -
31-Mar-94 £3,306,000,000 -
30-Apr-94 £3,086,000,000 -
31-May-94 £3,249,000,000 -
30-Jun-94 £3,577,000,000 -
31-Jul-94 £3,400,000,000 -
31-Aug-94 £3,714,000,000 -
30-Sep-94 £3,547,000,000 -
31-Oct-94 £3,390,000,000 -
30-Nov-94 £3,752,000,000 -
31-Dec-94 £4,309,000,000 -
31-Jan-95 £3,577,000,000 -
28-Feb-95 £3,235,000,000 -
31-Mar-95 £3,821,000,000 -
30-Apr-95 £3,675,000,000 -
31-May-95 £4,153,000,000 -
30-Jun-95 £4,093,000,000 -
31-Jul-95 £4,074,000,000 -
31-Aug-95 £4,115,000,000 -
30-Sep-95 £3,941,000,000 -
31-Oct-95 £4,165,000,000 -
30-Nov-95 £4,189,000,000 -
31-Dec-95 £4,657,000,000 -
31-Jan-96 £4,244,000,000 -
29-Feb-96 £3,795,000,000 -
31-Mar-96 £4,015,000,000 -
30-Apr-96 £4,548,000,000 -
31-May-96 £4,697,000,000 -
30-Jun-96 £4,327,000,000 -
31-Jul-96 £5,062,000,000 -
31-Aug-96 £4,590,000,000 -
30-Sep-96 £4,527,000,000 -
31-Oct-96 £4,926,000,000 -
30-Nov-96 £4,694,000,000 -
31-Dec-96 £5,666,000,000 -
31-Jan-97 £4,545,000,000 -
28-Feb-97 £4,161,000,000 -
31-Mar-97 £4,404,000,000 -
30-Apr-97 £5,166,000,000 -
31-May-97 £4,903,000,000 -
30-Jun-97 £5,098,000,000 -
31-Jul-97 £5,423,000,000 -
31-Aug-97 £4,838,000,000 -
30-Sep-97 £5,105,000,000 -
31-Oct-97 £5,246,000,000 -
30-Nov-97 £4,952,000,000 -
31-Dec-97 £6,415,000,000 -
31-Jan-98 £4,717,000,000 -
28-Feb-98 £4,489,000,000 -
31-Mar-98 £5,305,000,000 -
30-Apr-98 £5,347,000,000 -
31-May-98 £5,230,000,000 -
30-Jun-98 £5,779,000,000 -
31-Jul-98 £5,955,000,000 -
31-Aug-98 £5,403,000,000 -
30-Sep-98 £5,795,000,000 -
31-Oct-98 £5,627,000,000 -
30-Nov-98 £5,931,000,000 -
31-Dec-98 £6,821,000,000 -
31-Jan-99 £5,888,000,000 -
28-Feb-99 £5,762,000,000 -
31-Mar-99 £6,984,000,000 -
30-Apr-99 £6,607,000,000 -
31-May-99 £6,482,000,000 -
30-Jun-99 £7,290,000,000 -
31-Jul-99 £7,374,000,000 -
31-Aug-99 £7,271,000,000 -
30-Sep-99 £7,053,000,000 -
31-Oct-99 £6,823,000,000 -
30-Nov-99 £7,918,000,000 -
31-Dec-99 £8,500,000,000 -
31-Jan-00 £6,953,000,000 -
29-Feb-00 £7,268,000,000 -
31-Mar-00 £7,866,000,000 -
30-Apr-00 £7,155,000,000 -
31-May-00 £8,558,000,000 -
30-Jun-00 £8,151,000,000 -
31-Jul-00 £8,512,000,000 -
31-Aug-00 £8,595,000,000 -
30-Sep-00 £7,651,000,000 -
31-Oct-00 £8,448,000,000 -
30-Nov-00 £8,537,000,000 -
31-Dec-00 £9,067,000,000 -
31-Jan-01 £8,397,000,000 -
28-Feb-01 £7,517,000,000 -
31-Mar-01 £8,050,000,000 -
30-Apr-01 £8,543,000,000 -
31-May-01 £8,825,000,000 -
30-Jun-01 £8,425,000,000 -
31-Jul-01 £9,210,000,000 -
31-Aug-01 £8,798,000,000 -
30-Sep-01 £7,988,000,000 -
31-Oct-01 £9,290,000,000 -
30-Nov-01 £9,276,000,000 -
31-Dec-01 £10,166,000,000 -
31-Jan-02 £8,899,000,000 -
28-Feb-02 £8,413,000,000 -
31-Mar-02 £8,835,000,000 -
30-Apr-02 £9,920,000,000 -
31-May-02 £10,087,000,000 -
30-Jun-02 £8,936,000,000 -
31-Jul-02 £10,552,000,000 -
31-Aug-02 £9,697,000,000 -
30-Sep-02 £9,804,000,000 -
31-Oct-02 £10,240,000,000 -
30-Nov-02 £9,927,000,000 -
31-Dec-02 £11,750,000,000 -
31-Jan-03 £10,245,000,000 -
28-Feb-03 £8,670,000,000 -
31-Mar-03 £9,570,000,000 -
30-Apr-03 £9,971,000,000 -
31-May-03 £10,021,000,000 -
30-Jun-03 £10,546,000,000 -
31-Jul-03 £11,333,000,000 -
31-Aug-03 £9,997,000,000 -
30-Sep-03 £10,999,000,000 -
31-Oct-03 £10,988,000,000 -
30-Nov-03 £10,176,000,000 -
31-Dec-03 £12,475,000,000 -
31-Jan-04 £10,135,000,000 -
29-Feb-04 £9,806,000,000 -
31-Mar-04 £11,722,000,000 -
30-Apr-04 £10,596,000,000 -
31-May-04 £10,505,000,000 -
30-Jun-04 £11,625,000,000 -
31-Jul-04 £11,452,000,000 -
31-Aug-04 £11,550,000,000 -
30-Sep-04 £11,199,000,000 -
31-Oct-04 £10,663,000,000 -
30-Nov-04 £11,938,000,000 -
31-Dec-04 £12,357,000,000 -
31-Jan-05 £10,710,000,000 -
28-Feb-05 £10,109,000,000 -
31-Mar-05 £11,205,000,000 -
30-Apr-05 £10,346,000,000 -
31-May-05 £11,396,000,000 -
30-Jun-05 £11,147,000,000 -
31-Jul-05 £10,772,000,000 -
31-Aug-05 £11,885,000,000 -
30-Sep-05 £10,925,000,000 -
31-Oct-05 £10,984,000,000 -
30-Nov-05 £11,361,000,000 -
31-Dec-05 £11,603,000,000 -
31-Jan-06 £11,071,000,000 -
28-Feb-06 £9,670,000,000 -
31-Mar-06 £10,523,000,000 -
30-Apr-06 £9,629,000,000 -
31-May-06 £11,172,000,000 -
30-Jun-06 £10,556,000,000 -
31-Jul-06 £10,565,000,000 -
31-Aug-06 £10,624,000,000 -
30-Sep-06 £10,024,000,000 -
31-Oct-06 £10,845,000,000 -
30-Nov-06 £10,780,000,000 -
31-Dec-06 £11,204,000,000 -
31-Jan-07 £10,714,000,000 -
28-Feb-07 £9,148,000,000 -
31-Mar-07 £10,331,000,000 -
30-Apr-07 £10,058,000,000 -
31-May-07 £10,895,000,000 -
30-Jun-07 £10,302,000,000 -
31-Jul-07 £11,352,000,000 -
31-Aug-07 £10,861,000,000 -
30-Sep-07 £9,986,000,000 -
31-Oct-07 £11,528,000,000 -
30-Nov-07 £11,336,000,000 -
31-Dec-07 £12,034,000,000 -
31-Jan-08 £11,111,000,000 -
29-Feb-08 £10,433,000,000 -
31-Mar-08 £10,588,000,000 -
30-Apr-08 £10,846,000,000 -
31-May-08 £10,981,000,000 -
30-Jun-08 £11,066,000,000 -
31-Jul-08 £11,445,000,000 -
31-Aug-08 £10,516,000,000 -
30-Sep-08 £11,301,000,000 -
31-Oct-08 £11,019,000,000 -
30-Nov-08 £10,138,000,000 -
31-Dec-08 £12,164,000,000 -
31-Jan-09 £9,660,000,000 -
28-Feb-09 £8,911,000,000 -
31-Mar-09 £10,486,000,000 -
30-Apr-09 £9,840,000,000 -
31-May-09 £9,642,000,000 -
30-Jun-09 £10,484,000,000 -
31-Jul-09 £10,531,000,000 -
31-Aug-09 £9,604,000,000 -
30-Sep-09 £10,407,000,000 -
31-Oct-09 £9,903,000,000 -
30-Nov-09 £10,483,000,000 -
31-Dec-09 £11,425,000,000 -
31-Jan-10 £9,426,000,000 £10,348,000,000
28-Feb-10 £9,617,000,000 £9,680,000,000
31-Mar-10 £11,397,000,000 £11,581,000,000
30-Apr-10 £10,479,000,000 £10,108,000,000
31-May-10 £10,364,000,000 £10,444,000,000
30-Jun-10 £11,339,000,000 £11,120,000,000
31-Jul-10 £11,077,000,000 £11,021,000,000
31-Aug-10 £11,334,000,000 £10,791,000,000
30-Sep-10 £11,026,000,000 £11,043,000,000
31-Oct-10 £10,548,000,000 £10,607,000,000
30-Nov-10 £12,011,000,000 £11,271,000,000
31-Dec-10 £12,295,000,000 £11,147,000,000
31-Jan-11 £10,662,000,000 £11,008,000,000
28-Feb-11 £10,108,000,000 £9,835,000,000
31-Mar-11 £11,418,000,000 £11,162,000,000
30-Apr-11 £10,656,000,000 £9,534,000,000
31-May-11 £11,720,000,000 £11,158,000,000
30-Jun-11 £11,523,000,000 £10,799,000,000
31-Jul-11 £11,305,000,000 £10,654,000,000
31-Aug-11 £12,058,000,000 £11,319,000,000
30-Sep-11 £11,354,000,000 £10,675,000,000
31-Oct-11 £11,277,000,000 £10,909,000,000
30-Nov-11 £11,572,000,000 £10,674,000,000
31-Dec-11 £12,352,000,000 £11,044,000,000
31-Jan-12 £11,232,000,000 £11,495,000,000
29-Feb-12 £10,382,000,000 £10,319,000,000
31-Mar-12 £11,347,000,000 £10,720,000,000
30-Apr-12 £11,255,000,000 £10,467,000,000
31-May-12 £11,783,000,000 £11,116,000,000
30-Jun-12 £11,076,000,000 £9,979,000,000
31-Jul-12 £12,004,000,000 £11,480,000,000
31-Aug-12 £11,645,000,000 £10,813,000,000
30-Sep-12 £11,032,000,000 £9,990,000,000
31-Oct-12 £12,330,000,000 £11,921,000,000
30-Nov-12 £12,137,000,000 £10,734,000,000
31-Dec-12 £12,884,000,000 £10,916,000,000
31-Jan-13 £11,932,000,000 £10,467,000,000
28-Feb-13 £11,007,000,000 £8,701,000,000
31-Mar-13 £11,709,000,000 £9,643,000,000
30-Apr-13 £12,602,000,000 £9,968,000,000
31-May-13 £12,781,000,000 £10,127,000,000
30-Jun-13 £12,045,000,000 £9,247,000,000
31-Jul-13 £13,797,000,000 £11,433,000,000
31-Aug-13 £12,907,000,000 £10,120,000,000
30-Sep-13 £13,023,000,000 £10,442,000,000
31-Oct-13 £13,113,000,000 £10,866,000,000
30-Nov-13 £13,076,000,000 £9,923,000,000
31-Dec-13 £14,399,000,000 £11,066,000,000
31-Jan-14 £12,934,000,000 £11,220,000,000
28-Feb-14 £11,593,000,000 £9,514,000,000
31-Mar-14 £12,912,000,000 £10,760,000,000
30-Apr-14 £12,754,000,000 £9,979,000,000
31-May-14 £13,073,000,000 £10,565,000,000
30-Jun-14 £13,212,000,000 £10,561,000,000
31-Jul-14 £13,529,000,000 £10,974,000,000
31-Aug-14 £12,764,000,000 £9,986,000,000
30-Sep-14 £13,561,000,000 £11,122,000,000
31-Oct-14 £14,373,000,000 £11,822,000,000
30-Nov-14 £13,889,000,000 £10,775,000,000
31-Dec-14 £16,379,000,000 £12,721,000,000
31-Jan-15 £13,619,000,000 £11,928,000,000
28-Feb-15 £12,759,000,000 £10,589,000,000
31-Mar-15 £14,572,000,000 £12,151,000,000
30-Apr-15 £14,015,000,000 £10,812,000,000
31-May-15 £13,999,000,000 £11,455,000,000
30-Jun-15 £15,208,000,000 £12,150,000,000
31-Jul-15 £15,089,000,000 £12,127,000,000
31-Aug-15 £14,411,000,000 £11,339,000,000
30-Sep-15 £14,856,000,000 £12,074,000,000
31-Oct-15 £14,531,000,000 £11,924,000,000
30-Nov-15 £15,588,000,000 £11,711,000,000
31-Dec-15 £16,257,000,000 £12,327,000,000
31-Jan-16 £14,079,000,000 £11,918,000,000
29-Feb-16 £14,562,000,000 £12,003,000,000
31-Mar-16 £14,976,000,000 £11,917,000,000
30-Apr-16 £14,516,000,000 £11,384,000,000
31-May-16 £15,611,000,000 £12,173,000,000
30-Jun-16 £15,114,000,000 £11,756,000,000
31-Jul-16 £15,014,000,000 £11,794,000,000
31-Aug-16 £16,143,000,000 £12,588,000,000
30-Sep-16 £15,291,000,000 £12,086,000,000
31-Oct-16 £15,630,000,000 £12,486,000,000
30-Nov-16 £16,276,000,000 £11,999,000,000
31-Dec-16 £16,428,000,000 £12,452,000,000
31-Jan-17 £15,911,000,000 £13,363,000,000
28-Feb-17 £14,238,000,000 £11,296,000,000
31-Mar-17 £15,927,000,000 £12,904,000,000
30-Apr-17 £14,974,000,000 £11,068,000,000
31-May-17 £16,899,000,000 £13,404,000,000
30-Jun-17 £16,047,000,000 £12,180,000,000
31-Jul-17 £16,611,000,000 £12,959,000,000
31-Aug-17 £16,409,000,000 £12,712,000,000
30-Sep-17 £15,691,000,000 £12,050,000,000
31-Oct-17 £16,624,000,000 £13,242,000,000
30-Nov-17 £17,264,000,000 £12,465,000,000
31-Dec-17 £16,769,000,000 £12,489,000,000
31-Jan-18 £17,227,000,000 £13,962,000,000
28-Feb-18 £15,002,000,000 £11,507,000,000
31-Mar-18 £16,256,000,000 £13,044,000,000
30-Apr-18 £17,104,000,000 £12,617,000,000
31-May-18 £17,831,000,000 £13,615,000,000
30-Jun-18 £17,138,000,000 £12,713,000,000
31-Jul-18 £18,284,000,000 £14,326,000,000
31-Aug-18 £17,756,000,000 £13,578,000,000
30-Sep-18 £16,369,000,000 £12,560,000,000
31-Oct-18 £18,452,000,000 £14,945,000,000
30-Nov-18 £18,393,000,000 £13,300,000,000
31-Dec-18 £18,159,000,000 £13,945,000,000
31-Jan-19 £17,614,000,000 £14,472,000,000
28-Feb-19 £15,756,000,000 £12,244,000,000
31-Mar-19 £17,109,000,000 £13,791,000,000
30-Apr-19 £18,430,000,000 £13,820,000,000
31-May-19 £18,476,000,000 £14,272,000,000
30-Jun-19 £17,196,000,000 £13,022,000,000
31-Jul-19 £19,381,000,000 £15,240,000,000
31-Aug-19 £17,805,000,000 £13,623,000,000
30-Sep-19 £18,024,000,000 £14,044,000,000
31-Oct-19 £18,087,000,000 £14,304,000,000
30-Nov-19 £17,856,000,000 £13,256,000,000
31-Dec-19 £19,730,000,000 £14,611,000,000
31-Jan-20 £18,177,000,000 £14,781,000,000
29-Feb-20 £16,282,000,000 £12,949,000,000
31-Mar-20 £15,067,000,000 £14,002,000,000
30-Apr-20 £9,368,000,000 £10,842,000,000
31-May-20 £10,282,000,000 £9,343,000,000
30-Jun-20 £12,640,000,000 £9,890,000,000
31-Jul-20 £14,637,000,000 £10,936,000,000
31-Aug-20 £14,609,000,000 £11,135,000,000
30-Sep-20 £14,939,000,000 £12,360,000,000
31-Oct-20 £14,465,000,000 £12,207,000,000
30-Nov-20 £14,918,000,000 £12,052,000,000
31-Dec-20 £15,141,000,000 £12,481,000,000
31-Jan-21 £11,609,000,000 £11,362,000,000
28-Feb-21 £11,887,000,000 £9,790,000,000
31-Mar-21 £14,883,000,000 £11,699,000,000
30-Apr-21 £14,861,000,000 £10,857,000,000
31-May-21 £16,213,000,000 £11,834,000,000
30-Jun-21 £17,236,000,000 £12,911,000,000
31-Jul-21 £17,347,000,000 £13,125,000,000
31-Aug-21 £18,440,000,000 £13,624,000,000
30-Sep-21 £18,200,000,000 £13,376,000,000
31-Oct-21 £18,175,000,000 £13,488,000,000
30-Nov-21 £20,395,000,000 £14,278,000,000
31-Dec-21 £18,888,000,000 £14,184,000,000
31-Jan-22 £17,499,000,000 £13,875,000,000
28-Feb-22 £17,156,000,000 £12,269,000,000

Volume and average value of credit card transactions

The average value of transactions stayed fairly level over the year (2021). During this time, the average value of each credit card transaction was £52. The average value per transaction has not reached pre-pandemic levels, when the average transaction value was £61 in January 2020.

Between January 2021 and January 2022 the volume of transactions increased from £198 million per month to £292 million per month. This is a 48% increase in the year.

Year Volume of transactions Average value per transaction
Jan-20 284.02 £61
Feb-20 275.35 £57
Mar-20 273.44 £53
Apr-20 164.04 £53
May-20 186.83 £51
Jun-20 227.72 £53
Jul-20 261.65 £53
Aug-20 273.82 £50
Sep-20 281.55 £50
Oct-20 273.77 £51
Nov-20 273.4 £53
Dec-20 292.16 £50
Jan-21 197.7 £54
Feb-21 202.71 £54
Mar-21 256.97 £55
Apr-21 259.17 £53
May-21 281.72 £53
Jun-21 309.85 £52
Jul-21 312.97 £51
Aug-21 334.79 £51
Sep-21 321.96 £52
Oct-21 318.62 £52
Nov-21 354.22 £53
Dec-21 350.9 £49
Jan-22 292.39 £55

What credit cards are people searching for?

Our data shows that a third of searches (33%) for credit cards on our website are related to credit cards related to bad credit. These could be cards that help with building up your credit score or cards that are most likely to accept applications from people who currently have a low credit score.

Almost 1 in 10 (8%) searches are for travel credit cards. These cards can have a variety of benefits ranging from perks like lounge access, to complimentary travel insurance. Interestingly, only 1 in 20 (4.9%) searches are for credit cards with rewards benefits, which are used by credit card companies to attract new customers to use their services.

Search type Percentage
Bad credit 33.10%
All cards 27.70%
Balance transfers 10.50%
Purchases 9.70%
Travel 8.20%
Rewards 4.90%
Balance transfers purchase 3.60%
Low rate 2.40%

Average outstanding credit card balance

Your outstanding balance is the money you’ve borrowed but are yet to repay. Between January 2021 and January 2022, the average outstanding balance has decreased by 2.1%. Between January 2020 and January 2021, both the average outstanding credit card balance and the number of accounts with outstanding balances increased gradually. At their individual peaks in this time period, the average outstanding credit card balance was £1,829 (January 2020) and there were 38.7 million accounts with outstanding balances (February 2020). As of January 2022, 35.2 million accounts had outstanding balances.

Date Accounts with balances outstanding at the end of the calendar month Average outstanding credit card balance
Jan-20 38.11 million £1.83
Feb-20 38.73 million £1.79
Mar-20 38.146 million £1.74
Apr-20 36.465 million £1.69
May-20 36.067 million £1.66
Jun-20 36.06 million £1.65
Jul-20 36.109 million £1.66
Aug-20 36.1 million £1.67
Sep-20 35.993 million £1.64
Oct-20 35.694 million £1.63
Nov-20 35.617 million £1.63
Dec-20 34.902 million £1.64
Jan-21 33.978 million £1.59
Feb-21 33.732 million £1.57
Mar-21 33.915 million £1.56
Apr-21 33.861 million £1.57
May-21 33.999 million £1.58
Jun-21 34.158 million £1.58
Jul-21 34.213 million £1.58
Aug-21 34.435 million £1.58
Sep-21 34.58 million £1.60
Oct-21 34.723 million £1.59
Nov-21 35.16 million £1.61
Dec-21 35.054 million £1.61
Jan-22 35.231 million £1.56

Credit card rewards in the UK

Credit card companies can offer valuable rewards — cashback, free trips and discounts, among many others. These rewards can be very attractive, with 51.2% of cardholders swiping or tapping just to be rewarded. We have taken a closer look at who is most likely to use these cards, how much they spend on them and what kinds of purchases they make in order to reap the benefits of the cards.

Spending Percentage
Spent on a credit card only for the rewards 51.24%
Has not spent on a credit card only for the rewards 48.76%

Our study of 2,000 Brits in 2020 revealed that cardholders spent an average £1,554.47 each chasing points in the past year, adding up to an estimated £23.9 billion in total. We’re most likely to spend this money on food and drinks (51.7%), but clothing and accessories (47.5%) and household items (40.5%) aren’t far behind.

Credit card purchases for rewards programme Percentage
Clothing/accessories 47.5%
Cosmetics/fragrances 23.9%
Food/drink 51.7%
Household items 40.5%
Literature 15.3%
Music 16.7%
Shoes 25.4%
Techonology/electronics 29.2%

Sources used


Click here for more research. For all media enquiries, please contact:

Matt Mckenna
Head of UK communications
T: +44 20 8191 8806
matt.mckenna@finder.com@MichHutchison/in/matthewmckenna2


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