Key Market Indicators
The number of credit cards in the United Kingdom is projected to reach approximately 67 million units by 2028, up from 65 million units in 2023. This marks an average annual growth rate of 0.6%. Since 2017, the supply of credit cards in the UK has been increasing at an average rate of 0.7% per year. In 2023, the UK ranked eighth globally in terms of the number of credit cards, with Argentina slightly ahead at 65 million units. The top three countries in this ranking were China, Japan, and Brazil. Meanwhile, British credit card transactions are expected to hit around $251 billion by 2028, rising from $237 billion in 2023. This represents an average yearly growth rate of 0.8%. Since 2017, the demand for credit card transactions in the UK has grown at an annual rate of 0.6%. In the global ranking for 2023, the UK was sixth in terms of transaction value, with Australia just ahead at $237 billion. The leading countries in this category were South Korea, Japan, and Canada.
