Wealth
Americans Paid Record Credit Card Fees of $25B in 2022 💳
![Americans Paid Record Credit Card Fees of $25B in 2022 💳](/_next/image?url=https%3A%2F%2Fcdn.voronoiapp.com%2Fpublic%2Fimages%2Fvoronoi-Americans-Paid-Record-Credit-Card-Fees-of-25B-in-2022--20240510131317.webp&w=3840&q=75)
What we’re showing
Yearly credit card fees charged in the U.S., broken down by annual fees, late fees, and other fees.
Key takeaway
After a dip in the pandemic, credit card fees paid by consumers have resumed their pre-pandemic growth trend.
Context
- It has become common for credit cards to offer more generous rewards, which drives up the average annual fee.
- It was also reported that U.S. credit card debt surpassed $1 trillion for the first time ever in 2022.
Dataset
Year | Late Fee | Annual Fee | Other Fees | USD billions |
---|---|---|---|---|
2015 | 10 | 3 | 4 | |
2016 | 12 | 3 | 4 | |
2017 | 12 | 4 | 4 | |
2018 | 13 | 4 | 4 | |
2019 | 14 | 5 | 4 | |
2020 | 12 | 5 | 3 | |
2021 | 11 | 6 | 4 | |
2022 | 15 | 6 | 4 |
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